Vidya Lakshmi Education Loan
The Ministry of Education, the Indian Banks Association, and the Ministry of Finance collaborated to create Vidya Lakshmi, an educational portal.
Its purpose is to serve as a conduit for education loans between students and banks. Students can use the site, which is run by NSDL e-Governance Infrastructure Limited, to apply for and monitor education loan applications from the various banks that have participated with the initiative.
This makes it easy for students to view loan data, apply for various educational loan schemes through the one-stop portal, and track the status of their loan application. The portal is open to the public and may be accessed from any computer, anywhere and at any time.
Vidya Lakshmi Portal’s Features
The following are the features of Vidya Lakshmi Portal
**Using the platform, you may apply for student loans from a variety of banks.
You don’t have to fill out many application forms to get a student loan.
You may learn about the various educational loan programmes offered by banks.
Your loan application may be quickly downloaded by banks.
Banks can use the platform to upload loan processing status.
Banks can be contacted through email if you have any complaints or questions about your educational loan.
It may be linked to the National Scholarship Portal for government scholarship information and applications.**
Eligibility Criteria
The following are the requirements for obtaining an educational loan through the portal
The IBA Model Education Loan Scheme must be used to get an education loan.
The annual income of the parents should not exceed Rs.4.5 lakh .
Students should attend NAAC and NBA approved institutions, national institutions, or Centrally Funded Technical Institutions.
Professional institutions that are not accredited by the NAAC or the NBA must obtain authorisation from the appropriate regulating agency.
Registration Procedure
To access the Vidya Lakshmi site, you must first create an account. You can accomplish this by following the steps given below -
Vidya Lakshmi’s official web page link https://www.vidyalakshmi.co.in/
Select ‘Register’ from the drop-down menu.
Enter basic information such as your name, phone number, and email address.
Accept the terms and conditions by clicking the ‘Submit’ button.
A link to activate your account will be emailed to the email address you supplied.
To activate your account, you must click the link supplied to your email.
Check the application status
You may check the progress of your application after it has been filed by going to the ‘Application Status’ option on the home page.
