Himachal opens scope for higher studies abroad

Shimla: Meritorious students from economically weaker sections in Himachal Pradesh can look forward to brighter opportunities for pursuing higher studies abroad.

Despite the state facing significant financial challenges, the government has made a landmark decision to expand the scope of the Dr. Y.S. Parmar ‘Vidyarthi Rin Yojna’.

This initiative now includes funding for overseas education, enabling more youths to access higher education opportunities globally.

This initiative will benefit students aspiring to pursue higher studies in foreign institutions, ensuring that financial limitations do not stand in the way of their educational aspirations.

A detailed SOP will be issued in this regard by the education department shortly, said Chief Minister Sukhwinder Singh Sukhu .

Chief Minister said the state government has launched the Dr. Y.S. Parmar Vidyarthi 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.

“Our government is committed to provide quality education to all youth and with the launch of this scheme, no deserving student in the State will be deprived of higher or professional education due to financial constraints. This decision reflects the state government’s unwavering commitment to making quality education accessible to all, regardless of economic background.

The government has already allocated Rs. 200 crore to support such students under this scheme,” said the Chief Minister. Students from families with an annual income below Rs. four lakh are eligible for the loan, which will cover educational expenses such as tuition fees, boarding, lodging, books and other related costs. Students can avail loans up to Rs. 20 lakh from any scheduled bank in the state.

To address delays in disbursement, the government will maintain a corpus at the district level, overseen by the Deputy Commissioner, to release the first instalment of the loan when immediate payment is needed.

The scheme will cover students pursuing diploma and degree courses in professional and technical education, such as engineering, medicine, management, nursing, pharmacy, law, and more, as well as students from ITIs, Polytechnics, and those pursuing Ph.D. programmes.