Pradhan Mantri Uchchatar Shiksha Protsahan Yojana
The Pradhan Mantri Uchchatar Shiksha Protsahan Yojana offers interest subsidies on education loans for economically weaker students.
Benefits
Beneficiaries receive a full interest subsidy on education loans during the moratorium period, applicable for loans up to ₹10 lakhs. The scheme covers loans without requiring collateral for amounts up to ₹7.5 lakhs.
Who can apply
- Household income ≤ ₹4,50,000/year
- For: student
- not income tax payer
- poor household
This scheme is available to students from economically weaker sections with a family income of up to ₹4.5 lakhs per annum. Applicants must not be income tax payers and should be enrolled in professional or technical courses at accredited institutions. Those receiving other government scholarships or who discontinue their courses are not eligible.
How to apply
Interested applicants can apply through the designated banks participating in the scheme.
- Visit the official website of Canara Bank or the Ministry of Education.
- Check the eligibility criteria and required documents.
- Approach a scheduled bank or regional rural bank to apply for an education loan under the IBA Model Education Loan Scheme.
- Submit the necessary documents including identity proof, income proof, and proof of admission.
- Complete the loan application form as per the bank's requirements.
Documents required
- Identity proof i.e Aadhaar Card
- PAN Card
- Income proof (Issued by Competent Authority)
- Educational Certificates
- Proof of admission to the course
- Bank account details
- Any other documents, as required
Frequently asked questions
Who qualifies as an economically weaker section under this scheme?
Students whose family income is up to ₹4.5 lakhs per annum from all sources are considered economically weaker under this scheme.
Can I apply for this scheme if I am already receiving another scholarship?
No, students who are availing any other Central or State Government scholarship or fee reimbursement are not eligible for this scheme.
What happens if I discontinue my course?
If a student discontinues their course midstream or is expelled, they will not be eligible for the interest subsidy.
Is there a limit on the loan amount for which the subsidy is applicable?
Yes, the interest subsidy is applicable for loans up to ₹10 lakhs, and no collateral is required for loans up to ₹7.5 lakhs.
What documents are required to apply for the scheme?
Applicants need to provide identity proof, income proof, educational certificates, proof of admission, and bank account details, among other documents.
Key terms explained
- EWS (Economically Weaker Section)
- A category for people below a defined income level who don’t fall under SC/ST/OBC, eligible for certain benefits and reservations.
Source: myScheme (myscheme.gov.in) archived page via gov_myscheme dataset. Facts last verified on 2026-06-07.