NMC Asks Leading Medical Colleges to Promote PM Vidyalaxmi Scheme for Student Education Loans

In an effort to improve access to affordable medical education, the National Medical Commission (NMC) has directed 50 top medical colleges across India to actively promote the PM Vidyalaxmi Scheme — a government-backed initiative offering collateral-free and guarantor-free education loans for deserving students.

What is PM Vidyalaxmi?

Launched on November 6, 2024, the PM Vidyalaxmi Scheme simplifies the education loan process for students enrolled in Quality Higher Educational Institutions (QHEIs). It features a fully digital, transparent application platform and aligns with the Model Education Loan Scheme (MELS) recommended by the Indian Banks’ Association (IBA) and adopted by Scheduled Commercial Banks under the guidance of the RBI.

Key Highlights:

No collateral or guarantor required

Fully online application process

Aimed at making medical education more accessible and affordable for meritorious students

What NMC Is Asking Colleges To Do:

The NMC’s latest circular requests that premier institutions such as:

AIIMS Delhi, AIIMS Patna, PGIMER Chandigarh, JIPMER Puducherry

Madras Medical College, CMC Vellore, King George’s Medical University, and others across 24 states and UTs

...actively include details about PM Vidyalaxmi in their admission brochures, websites, and student outreach materials.

How to Apply: Eligible students can visit pmvidyalaxmi.co.in to submit their loan applications.

Why It Matters:

The NMC’s push aims to enhance awareness and maximize the adoption of the scheme among medical aspirants, especially those from economically weaker backgrounds, helping them pursue MBBS and other medical degrees without financial hurdles.