The National Medical Commission (NMC) has issued a directive to 50 premier medical institutions across India to include information about the PM Vidyalaxmi Education Loan Scheme in their prospectuses and admission brochures. The move aims to raise awareness among medical aspirants about the availability of collateral-free, guarantor-free education loans for pursuing higher medical education.
The scheme, launched on November 6, 2024, is based on the Model Education Loan Scheme (MELS) developed by the Indian Banks’ Association (IBA) and endorsed by the Reserve Bank of India (RBI). It enables easy, transparent, and digital access to loans for students of Quality Higher Educational Institutions (QHEIs).
According to the NMC, students can apply for these loans through a student-friendly online portal, with full details available on the PM Vidyalaxmi website.
The 50 identified institutions include leading names such as:
- AIIMS branches in Delhi, Bhopal, Bhubaneswar, Jodhpur, Raipur, Patna, Rajkot, Nagpur, and others
- PGIMER Chandigarh, JIPMER Puducherry, NIMHANS Bengaluru
- VMMC & Safdarjung Hospital, Maulana Azad Medical College, Lady Hardinge, UCMS, all in Delhi
- CMC Vellore & Ludhiana, Madras Medical College, Sawai Man Singh Medical College, Kasturba Medical Colleges (Manipal & Mangalore)
- ESIC Medical Colleges in Faridabad, Chennai, Bengaluru
- King George’s Medical University, SGPGIMS Lucknow, UPUMS Etawah, and many more
“All institutions listed under the administrative scope of NMC are advised to prominently display information about the PM Vidyalaxmi scheme in their admission materials, ensuring that deserving and meritorious students are aware of financial aid options available through scheduled commercial banks,” the NMC said in its official notification.