Education Loans at 1% under the H.P. Mukhyamantri Vidyarthi Protsahan Yojana

The Himachal Pradesh Mukhyamantri Vidyarthi Protsahan Yojana (MMVPY) is an initiative of the Government of Himachal Pradesh to help underprivileged students pursue higher education. The aim of this scheme is to provide education loans to underprivileged students at the rate of one percent. This will enable them to pursue higher and professional studies from the financial year 2023-2024. The State Government has proposed 200 crores under this scheme. MMVPY is basically an education loan scheme that offers financial assistance to students from economically disadvantaged families. All eligible poor students whose family income is less than ₹ 4 lakh per annum from all sources will be able to avail benefits under this scheme through financial institutions or banks. Under this scheme, students of Himachal Pradesh can avail up to ₹ 20 lakh through financial institutions or banks at a nominal interest rate of 1%. 

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This scheme provides financial assistance to students who want to pursue diploma and degrees in professional and technical education in the following fields:

  • Engineering
  • Medical
  • Para-medical
  • Management
  • Nursing
  • Law
  • Polytechnic
  • PhD Programme
  • Pharmacy
  • ITIs
  • General Nursing and Midwifery (GNM) Courses

Applicants can use the education loan to pay for their higher education expenses, such as tuition fees, hostel accommodation, study materials, and other allied expenses associated with the education. 

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The scheme was announced on April 10, 2023, and is still in the implementation phase. The state government is expected to launch the official website soon. Interested students and applicants are advised to visit the website of the Higher Education Department of Himachal Pradesh to remain updated about the student loan for education programme. The State Cabinet has given its nod.

What is Himachal Pradesh Mukhyamantri Vidyarthi Protsahan Yojana?

Himachal Pradesh Chief Minister, Sukhwinder Singh Sukhu, announced the Mukhyamantri Vidyarthi Protsahan Yojana on 10th April 2023. The State Government has brought up this scheme to ensure that no youth in the state is deprived of professional education due to lack of financial resources. 

The main aim of introducing this scheme is to reduce the dropout rate and encourage students to pursue higher education, especially in professional and technical courses. 

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The government has allocated ₹ 200 crore for this initiative, which will provide education loans to students pursuing higher education at an interest rate of 1%. While this loan could have been offered interest-free, the Chief Minister stated that charging a small interest rate will help instill a sense of responsibility in the students.

Himachal Pradesh Mukhyamantri Vidyarthi Protsahan Yojana – Highlights

Particulars Details
Name of the Scheme Himachal Pradesh Mukhyamantri Vidyarthi Protsahan Yojana
Scheme Type Students benefiting educational loan
Provider Education Department, Himachal Pradesh
Beneficiary  Underprivileged Students of Himachal Pradesh
Objective Financial Assistance to Poor Children to Pursue Higher Education
Benefit Up to ₹ 20 lakh at 1% interest rate 
Helpline Number 01772656621

Himachal Pradesh Mukhyamantri Vidyarthi Protsahan Yojana – Eligibility 

To be eligible for the Himachal Pradesh MMVPY, students must meet the following eligibility criteria:

  • Applicants must be a resident of Himachal Pradesh.
  • Upper age limit of the beneficiary is 28 years
  • They must have passed Class 12 with at least 60% marks to pursue a diploma or degree course in professional and technical education
  • Applicants must be admitted to a recognized university or institution in India for a full-time undergraduate or postgraduate course.
  • Annual family income of the students must be less than ₹ 4 lakh.

Note:- This scheme is not applicable to the students who are pursuing their studies through correspondence or online programmes are not eligible.

Himachal Pradesh Mukhyamantri Vidyarthi Protsahan Yojana – Benefits

The HP Mukhyamantri Vidyarthi Protsahan Yojana offers numerous benefits to eligible students. Under the MMVPY, eligible students can avail education loans up to ₹ 20 lakh through financial institutions or banks at a nominal interest rate of 1%. The loan can be used to cover the following expenses:

  • Tuition fees
  • Hostel fees
  • Books and stationery
  • Other allied educational expenses

Additionally, the Himachal Pradesh government has announced a subsidy of ₹ 25,000 for 20,000 meritorious girl students to purchase electric scooters. This is applicable to female applicants who are above 18 years of age and pursuing their studies in government institutions. This scheme is intended to encourage both girl students to pursue higher education and to help Himachal Pradesh become a Green State by promoting the use of electric vehicles. The Green State seeks to connect the moral and practical concerns of the environmental movement.

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Himachal Pradesh Mukhyamantri Vidyarthi Protsahan Yojana – Professional Courses

This scheme offers a wide variety of professional courses including others.

They are as follows:

  • Engineering
  • Medical
  • Para-medical
  • Management
  • Nursing
  • Law
  • Polytechnic
  • PhD Programme
  • Pharmacy
  • ITIs
  • General Nursing and Midwifery (GNM) Courses 

Himachal Pradesh Mukhyamantri Vidyarthi Protsahan Yojana – Application Process (Offline)

Interested students can apply for the MMVPY online or offline. The online application process is available on the website of the Himachal Pradesh Higher Education Department. The offline application form can be obtained from the offices of the Director of Higher Education in all districts of the state. 

The application process for the Himachal Pradesh Mukhyamantri Vidyarthi Protsahan Yojana is as follows:

  • Students must download the application form from the website of the Himachal Pradesh Government.
  • The completed application form must be submitted to the concerned district education office along with the required documents. Applicants must fill the application form with required details, scan the documents and send it to the Director of Higher Education.
  • The last date for submission of applications is usually the end of the month of July. However, any changes in the submission date is at the discretion of the loan provider. 

Himachal Pradesh Mukhyamantri Vidyarthi Protsahan Yojana – Documents Required

The following documents are required to apply for the HP Mukhyamantri Vidyarthi Protsahan Yojana:

  • Passport size photo
  • Aadhaar card of the applicant
  • Student’s identity proof 
  • Income proof
  • Mark sheet of the previous qualifying examination 
  • Student’s admission letter to the college or university
  • Bank details
  • Proof of Residence (Any of these)
    • Electricity Bill
    • Driving License
    • Voter ID Card 
  • Age Proof (Any of these)
    • Birth Certificate
    • Driving License
    • PAN Card 

Selection Process

The selection of candidates under the MMVPY is done on the basis of merit and financial need. The selection committee will consider the following factors:

  • Marks obtained in Class 12
  • Academic Performance
  • Financial Need

Loan Disbursal

  • The loan amount will be disbursed to the students in installments. 
  • The first installment will be released after the student is admitted to the university or institution. 
  • The remaining installments will be released on a monthly or quarterly basis, subject to the student maintaining a satisfactory academic performance.
  • To prevent any delay, a corpus will be maintained at the level of Deputy Commissioner (DC).
  • DC will be authorised to release the first installment of fees to institutions concerned in the cases where banks take time to process disbursement. Later, this money will be reimbursed by the bank to the DC.


The loan amount could be repaid by the student within a period of 10 years. The repayment will begin after the student completes his/her education.

Also Read : SHRESHTA Education Programme : Empowering Meritorious SC Students in Targeted Areas

Helpline Number

Address: Directorate of Higher Education,

Himachal Pradesh, 171001

Toll-free number: +91 177 2656621

Fax: 2811247

PBX: +91 177 2653575, 2653386


Himachal Pradesh Mukhyamantri Vidyarthi Protsahan Yojana – FAQs

Can I apply for the Himachal Pradesh MMVPY if I am already enrolled in a higher education institution?

Yes, the students of Himachal Pradesh can apply under the Himachal Pradesh MMVPY even if they are already enrolled in a higher education institution.

Can I apply for the HP MMVPY if I am studying in a private college?

Yes, the students of Himachal Pradesh can apply under the Himachal Pradesh Mukhyamantri Vidyarthi Protsahan Yojana even if they are studying in a private college. However, the college must be recognized by the Himachal Pradesh government.

What is the interest rate on the loan provided under the Himachal Pradesh Mukhyamantri Vidyarthi Protsahan Yojana?

The interest rate on the loan provided under the Himachal Pradesh MMVPY is 1%.

Where can an interested applicant apply for the Himachal Pradesh Mukhyamantri Vidyarthi Protsahan Yojana?

The application form can be downloaded from the website of the Himachal Pradesh Higher Education Department. The completed application form along with the required documents can be submitted to the following authorities:

  • At the college or university where the student is admitted
  • At the district office of the Himachal Pradesh Higher Education Department


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