Vidya Lakshmi Portal: Main Features

Vidya Lakshmi Portal: Main Features

Question: Not being able to pursue higher education on account of lack of funds is a major obstacle for students in India. A web based portal was recently launched for students to access education loans more easily. Discuss its main features.

Vidya Lakshmi portal was announced on Independence Day for benefiting students seeking information about education loans

- The portal is one of its kind providing a single window for students to access information about educational loans and also apply for the same to banks and for government scholarships

The portal encompasses the following features

- Information about Educational Loan Schemes of Banks;

- Common Educational Loan Application Form for Students;

- Facility to apply to multiple Banks for Educational Loans;

- Facility for Banks to download Students’ Loan Applications;

- Facility for Banks to upload loan processing status;

- Facility for Students to email grievances/queries relating to Educational

- Loans to Banks;

- Dashboard facility for Students to view status of their loan application and

- Linkage to National Scholarship Portal for information and application for Government Scholarships.

Facts and Stats

- Portal is being developed and maintained by NSDL e-governance Infrastructure Limited under: Department of Financial Services, Ministry of FInance

- Department of Higher Education, HRD Ministry

- IBA/ Indian Banks Association

- 13 banks have registered 22 educational loan schemes under the portal and 5 banks including SBI, IDBI, Bank of India, Union Bank and Canara Bank