In a major step towards making quality education accessible to all, the Himachal Pradesh government has expanded the scope of Dr. Y.S. Parmar Vidyarthi Rin Yojna to include overseas education. This expansion aims to support meritorious students from economically weaker sections who aspire to pursue higher studies in foreign institutions, ensuring that financial barriers do not stand in the way of their educational ambitions.
Announcing the decision, Chief Minister Sukhvinder Singh Sukhu emphasized the government’s commitment to providing equal educational opportunities to all students. He highlighted that Dr. Y.S. Parmar Vidyarthi Rin Yojna, launched in the financial year 2023-24, offers loans at a minimal interest rate of just one percent to eligible bonafide Himachali students. “We believe that no deserving student should miss out on higher or professional education due to financial constraints,” the Chief Minister said, adding that the expansion of the scheme to include overseas education reaffirms the government’s dedication to empowering the youth.
Under this scheme, the state government has allocated Rs. 200 crore to support students pursuing education abroad. The loan covers essential educational expenses, including tuition fees, boarding, lodging, books, and other related costs. Students from families with an annual income below Rs. 4 lakh can apply for loans of up to Rs. 20 lakh through any scheduled bank in the state. To streamline the process and avoid delays in disbursement, a special corpus will be maintained at the district level, overseen by the Deputy Commissioner, to release the first instalment when immediate payments are required.
The expanded scheme is designed to benefit students enrolled in professional and technical courses such as engineering, medicine, management, nursing, pharmacy, law, and more. It also extends to students pursuing diploma programs, ITI courses, polytechnic education, and Ph.D. programs. Eligible students must have secured a minimum of 60 percent in their previous class and be under 28 years of age at the time of admission.
To ensure transparency and effective implementation of the scheme, the government will appoint a grievance redressal officer to address any concerns raised by students. A detailed Standard Operating Procedure (SOP) will soon be issued by the education department to provide clarity on the operational aspects of the scheme.
Chief Minister Sukhu emphasized that this initiative is a significant step towards ensuring that talented students from economically weaker backgrounds can fulfill their potential and realize their dreams, whether in India or abroad. He expressed hope that the expansion of Dr. Y.S. Parmar Vidyarthi Rin Yojna will inspire more students to aim higher and pursue advanced studies without worrying about financial constraints.
