The National Medical Commission (NMC) has issued a public notice advising 50 leading medical colleges and institutions across India to actively promote the PM Vidyalaxmi Scheme, a government initiative designed to facilitate collateral-free, guarantor-free education loans for meritorious students pursuing medical education.
In its latest circular, the NMC noted that all Scheduled Commercial Banks have been advised by the Reserve Bank of India to adopt the Model Education Loan Scheme (MELS) formulated by the Indian Banks' Association (IBA). To further streamline access, the PM Vidyalaxmi scheme was officially launched on November 6, 2024, providing a simplified, transparent, and digital loan application process for students enrolled in Quality Higher Educational Institutions (QHEIs).
The commission has shared a list of 50 premier medical institutions, including AIIMS branches, state-run colleges, and private universities, urging their deans and principals to include information about the PM Vidyalaxmi scheme in their admission brochures and prospectuses. This move aims to raise awareness among eligible students about available financial assistance and ensure wider adoption of the scheme.
Students can apply for loans through the official PM Vidyalaxmi portal, pmvidyalaxmi.co.in.
Institutions on the list include AIIMS Delhi, AIIMS Patna, JIPMER Puducherry, PGIMER Chandigarh, Madras Medical College, CMC Vellore, King George's Medical University, and others across 24 states and union territories.
