4,590 Tamil Nadu Students Avail PM-Vidyalaxmi Loans, Highest In South India

Chennai: A record 4,590 students from Tamil Nadu availed education loans of up to Rs 7.5 lakh under the Pradhan Mantri Vidyalaxmi (PM-Vidyalaxmi) scheme since November last year, making the DMK-ruled state a table-topper among five southern states, Union government data showed on Saturday.

In comparison, Karnataka reported 4,403 beneficiaries, Andhra Pradesh 3,428, Telangana 2,590, and Kerala 2,070, placing Tamil Nadu ahead of its southern counterparts, according to data released by the Ministry of Education.

About PM-Vidyalaxmi Scheme

The PM-Vidyalaxmi scheme, launched by the Ministry in November 2024, is designed to ensure that financial limitations do not obstruct deserving students from accessing quality higher education.

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It offers collateral-free and guarantor-free education loans of up to Rs 7.5 lakh, with a 75 per cent credit guarantee provided by the Centre to encourage participation from lending institutions.

Officials from the Tamil Nadu Higher Education Department attributed the state’s leading position to its consistently high Gross Enrolment Ratio (GER) and a significant youth population.

Tamil Nadu has a youth demographic of approximately 69.37 lakh in the 18–23 age group, a key determinant in the allocation of benefits under the scheme.

Officials said the number of beneficiaries is expected to rise in the coming years as the state intensifies efforts to promote higher education among economically weaker sections.

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A key intervention in this direction has been the career guidance programme initiated by the School Education Department.

The programme supports Class 10 students in transitioning to higher secondary education and motivates Class 12 students, particularly from government schools, to pursue college degrees.

This initiative has had a measurable impact. The GER among government school students in Tamil Nadu has risen from 47 per cent to 74 per cent, a senior official noted.

“Our aim is to achieve a 100 per cent GER in the coming years through a combination of improved access, awareness campaigns, and financial support mechanisms,” the official added.

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