Himachal Pradesh Dr YS Parmar Vidyarthi Rin Yojana

Scheme Introduction: A Brief Overview

The Dr. Y.S. Parmar Vidyarthi Rin Yojna is an education loan support scheme started by the Government of Himachal Pradesh in the financial year 2023-24. It was introduced with a clear purpose, to make sure that no student in the state has to give up higher education due to financial problems.

Under this scheme, eligible Himachali students can take an education loan at a highly subsidized interest rate of 1% through scheduled banks in Himachal Pradesh. The scheme mainly supports students pursuing professional, technical, and higher education courses such as Engineering, Medical, Management, Law, Nursing, ITI, Polytechnic, and even Postgraduate and Ph.D programs, provided the institution is recognized.

While the earlier guidelines focused on study within India and income up to ₹4 lakh, the updated provisions have expanded the scope, now covering students from low and middle-income families (up to ₹12 lakh) and allowing study abroad as well (as per latest updates).

Students looking for other education loan and scholarship schemes in Himachal Pradesh can also check the Himachal Pradesh Technical Education Scholarship Scheme and Himachal Pradesh Mukhya Mantri Mahila Sashaktikaran Yojana, which provide financial assistance to eligible students for better educational opportunities and overall empowerment.

Overall, the scheme acts as a financial bridge, helping students manage education costs without heavy interest burden during their study period.

Scheme Benefits

• Interest Subsidy Support
  • The scheme reduces the financial burden during the moratorium period (course duration + 1 year).
  • During this period, the student is required to pay only 1% interest.
  • The remaining interest is covered by the Government, making the loan more affordable.
  • After the moratorium period ends, the loan continues under normal bank terms with regular repayment.
• Loan Amount & Coverage
  • Up to ₹20 lakh loan
  • Includes tuition, study materials, and accommodation costs
• Course Coverage
  • The scheme supports a wide range of courses from recognized institutions approved by bodies like AICTE, UGC, NMC, etc.
• Eligible Courses Include:
  • Engineering & Technology
  • Medical & Para-Medical
  • Management, Pharmacy & Nursing
  • Law
  • ITI / Polytechnic
  • Post Graduation (PG)
• Study Location Flexibility
  • Loan is available for studies in India and abroad
  • For overseas education, only recognized institutions are eligible.

Eligibility Requirements

• Must be a bonafide resident of Himachal Pradesh
• Must have secured admission for full time course only in a recognized institution (India or abroad)
• Family income should be up to ₹12 lakh per annum
• Maximum age limit: 28 years at the time of admission/registration
• Must be pursuing a professional, technical, or higher education course
• The applicant must have secured at least 60% marks in the previous qualifying examination, and admission should be merit-based.
• The student must be enrolled in a full-time course; distance or online courses are not eligible under this scheme.
• The applicant should not be availing an education loan under any other State or Central Government scheme.

Required Documents

• Bonafide Himachali (Domicile) Certificate
• Aadhaar Card
• Admission Letter from Institution
• Academic Certificates
• Performance/Satisfactory certificate from Institution(required every year during course continuation)
• Income Certificate (issued by Executive Magistrate of concerned Tehsil/Sub-Division)
• Bank Loan Documents

Steps to Apply

Current Steps to Apply (Until Online Portal is Live)

• The process is designed to avoid delays, especially at the time of admission:
• Visit the DHE Official Website, and on the homepage go to Downloads Section and download the scheme Guidelines and Application Form (Annexure-II)
• Fill in the prescribed application form and get it checked for eligibility as per scheme guidelines from the Head of Institution/Registrar of University
• Scan the application form along with all required documents and submit through e-mail to DHE at [email protected]
• DHE will evaluate the documents for eligibility under the scheme guidelines within two working days
• If eligible, DHE will recommend the case to the concerned bank branch, DC and applicant
• If applicant has opted for corpus fund, the concerned DC will release the first installment of fee/funds within 24 hours in the bank account of the institution
• The bank will sanction the loan within 7 working days if satisfied with the documents
• Education loan is released to the applicant in installments as per scheme guidelines
• If loan is not sanctioned, the applicant must reimburse the corpus fund amount within 3 months

This ensures that your admission is not at risk due to financial delays.

Subsidy Process Overview

• UCO Bank (Main Branch, Shimla) acts as the nodal bank
• Banks submit subsidy claims twice a year (April & October)
• The government verifies and transfers the subsidy amount directly to your loan account
• The subsidy process is handled internally by the system.

Important Conditions

• You must continue your course and perform satisfactorily
• Every year, you need to submit a performance certificate from your institution
• If you leave the course midway, you may have to refund the subsidy amount
• If false documents are submitted → strict recovery + legal action
• A student can avail this subsidy only once in their lifetime
• The scheme covers loans disbursed from 1st April 2023 onwards
• Bank will claim interest subsidy after six months of loan sanction

Note: No collateral is required for loans up to ₹7.5 lakh, while loans above this limit are subject to bank norms.

Relevant Links

• The Official Website of Directorate of Higher Education Shimla, Government of Himachal Pradesh, India
• Official PDF - Dr. Y.S. Parmar Vidyarthi Rin Yojna (Himachal Pradesh)
• Updated Guidelines (2024) - Dr. Y.S. Parmar Vidyarthi Rin Yojna (Himachal Pradesh)
• Official Himachal Pradesh Dr YS Parmar Vidyarthi Rin Yojana Application Form (Annexure-II)

Contact Information

• Contact Information
  • Directorate of Higher Education, Himachal Pradesh, Shimla-1
  • Tel: 2653120, 2656622 | Fax: 2812882
  • Email: [email protected] & [email protected]
• For Grievances:
  • Grievance Officer: Branch Officer of Scholarship at DHE
  • Email: [email protected]
  • Landline: 0177-2656622