WWW.VIDYALAKSHMI.CO.IN

Those who think that pursuing higher education is difficult due to lack of funds have to start thinking again. With the collaboration of Department of Financial services in Finance Ministry, Ministry of Human Resource and Development, Department of Higher Education and Indian Bank Association, Indian government has introduced a new portal called WWW.VIDYALAKSHMI.CO.IN  which would help you to get education loans in fast and steady manner.

5 banks including SBI, IDBI, Canara Bank, Union Bank of India and Bank of India integrated their systems with the above mentioned portal. If we all remember correctly then our finance minister Mr. Arun Jaitley proposed to set up an IT based student financial aid authority to administer and monitor the scholarship as well as education loan under PRADHAN MANTRI VIDYA LAKSHMI KARYAKARAM (PMVLK).This portal is the first baby steps towards achieving this objective.

As per the govt. report 13 banks has already registered for 22 educational loans scheme and 5 banks whose names are mentioned above integrated their systems to the portal. It means students who are applying for educational loan through VIDYALAKSHMI has to fill up one common form. Also, students will have a facility to apply in multiple banks at one time. It will also have facility for bank to download student’s loan application.

Apart from all above mentioned things students can also check the status of their loan processing. They can also share their grievance and query related to the loan. This website will also link students to National Scholarship Portal for information about all government scholarship schemes.

We at Questeach believe that it’s a wonderful step by Government of India. It will save lot of time and energy on parent’s or student’s part. This will also create a sense of security amongst students that getting education loan is not that tough. Banks also knows now where to focus on if they want to achieve their annual education loan targets. This will also help students to understand the intricacies behind the loan amount dispersion.

It’s a sign of a new change and we would like to see this change to not change forever.