New Delhi- The Union Cabinet has approved a new scheme, PM Vidyalaxmi, to provide financial assistance to meritorious students from economically disadvantaged backgrounds seeking higher education in top institutions nationwide. The scheme will offer collateral-free and guarantee-free loans, aiming to remove financial barriers to pursuing higher education.

Students across the country have lauded the scheme, praising its potential to alleviate financial burdens and open up opportunities for those who might not otherwise be able to afford higher education.

Ayushi Singh, a student at Jamia Millia Islamia, hailed the scheme as a "significant step toward women's empowerment," emphasizing its potential to encourage families to educate their daughters. She highlighted the substantial loan amount of up to Rs 7.5 lakh, stating that it would significantly expand career options for students.

Sahil Alam, another student at Jamia Millia Islamia, stressed the scheme's impact on middle-class families, stating that it would provide critical support for students who struggle to afford education due to financial hardship. He commended the government's focus on economically disadvantaged students.

Himang Dwivedi, also a student at Jamia Millia Islamia, echoed these sentiments, highlighting the scheme's focus on girls and students from economically weaker sections. He believes that the Rs 7.5 lakh loan amount will be invaluable in assisting students in affording the high tuition fees of private institutions.

Kushaal Kumar Sharma, a student from Ramanujan College, praised the Rs 7.5 lakh loan amount, calling it "a major relief for students who cannot afford higher studies." He emphasized the importance of education and lauded the scheme as a positive initiative.

The PM Vidyalaxmi scheme aims to empower students from all backgrounds to pursue higher education, fostering a more educated and empowered future for India's youth.