Himachal Pradesh Government has expanded the Dr YS Parmar Vidyarthi Rin Yojna to provide financial support for students seeking higher education abroad. The decision marks a significant step in empowering meritorious students from economically weaker sections by removing financial barriers to global education opportunities. The Education Department will soon issue a detailed Standard Operating Procedure (SOP) to outline the specifics of the scheme’s extension.

Chief Minister Sukhvinder Singh Sukhu on Sunday announced that the expanded scheme, introduced in the financial year 2023-24, will now include students aiming to study overseas. The scheme offers educational loans to eligible bona fide Himachali students at a highly subsidized interest rate of just one percent.

“Our government is determined to provide quality education to every deserving youth. With this expanded scheme, no student in Himachal Pradesh will be denied the opportunity for higher education, whether in India or abroad, due to financial constraints,” said the Chief Minister.

To ensure adequate financial support, the Government has earmarked Rs 200 crore for this scheme. Students whose families earn less than Rs four lakh annually are eligible to apply for the loan, which can cover up to Rs 20 lakh. The funds will help pay for expenses such as tuition fees, lodging, books, and other education-related costs. Students can apply for loans from any scheduled bank in the State.

To avoid delays in disbursements, a district-level corpus fund will be maintained and managed by the Deputy Commissioner to ensure immediate release of the first installment of loans when required.

The scheme caters to students pursuing professional and technical courses such as engineering, medical, management, pharmacy, law, nursing, and more. It also covers diploma programs, ITIs, Polytechnics, and PhD programs. Eligibility criteria require students to have a minimum of 60 percent marks in their previous class and be under 28 years of age at the time of admission.

In order to streamline the scheme’s implementation and address any irregularities, a grievance redressal officer will be appointed to resolve concerns raised by students. “This initiative ensures that our youth can realize their dreams without financial burdens holding them back,” the Chief Minister added.