Lower-income families supported by PM Vidyalaxmi, PM-USP CSIS
Srinagar, Apr 06: More than 1,700 students in Jammu and Kashmir have received education loans under various Central government schemes during the ongoing financial year, reflecting a steady push to support higher education among economically weaker sections.
Official figures accessed by the news agency—Kashmir News Observer (KNO) reveal that a total of 3,505 loan applications were received from the Union Territory, out of which 1,743 have been sanctioned so far. However, a significant number—1,148 applications—were either withdrawn or closed by applicants, while 66 were rejected. Around 548 cases are still pending with banks for clarification or processing.
The data indicates that students from families earning up to ₹4.5 lakh annually form the largest group of beneficiaries. In this category, 714 loans have been sanctioned out of 1,577 applications, while 557 were withdrawn and 270 remain under process.
In the income bracket of ₹4.5 lakh to ₹8 lakh, as many as 482 students secured loans from a total of 910 applications. Meanwhile, among families earning above ₹8 lakh annually, 547 loans were sanctioned out of 1,018 applications.
Officials said that schemes such as PM Vidyalaxmi, PM-USP CSIS and credit guarantee-based loan initiatives are helping students access higher education without the burden of collateral in many cases. Interest subvention benefits are also being extended to eligible students to ease repayment pressure.
The figures underline that a majority of education loans in J&K are being availed by students from lower-income backgrounds, highlighting an increasing reliance on government-backed financial support to pursue higher and professional education. (KNO)
