Loan scheme to now include overseas studies

Kullu: To empower meritorious students from economically weaker sections, the state govt has decided to expand the scope of the Y S Parmar Vidyarthi Rin Yojna, which will now also provide loans for overseas education at minimal interest rate.
A detailed SOP will be issued in this regard by the education department shortly, an official statement stated on Sunday.
In the statement, chief minister Sukhvinder Singh Sukhu stated that the state govt launched Rin Yojna from the financial year 2023-24 to support the eligible meritorious students of economically weaker sections. The scheme provides educational loans at an interest rate of just one per cent to eligible bona-fide Himachali students.
“The govt has allocated Rs 200 crore to support such students under this scheme,” said the chief minister in the statement.
Students from families with an annual income below Rs 4 lakh are eligible for the loan up to Rs 20 lakh from any scheduled bank in the state. To address delays in disbursement, the govt will maintain a corpus at the district level, overseen by the deputy commissioner, to release the first installment of the loan when immediate payment is needed.