Medical Commission directs medical colleges to ensure education loans are available for meritorious EWS aspirants

The NMC has instructed medical colleges, including AIIMS Bibinagar and AFMC, to include details of the PM Vidyalaxmi education loan scheme in their brochures to help economically weaker students access collateral-free financial aid for pursuing MBBS.

Hyderabad: To ensure meritorious MBBS aspirants who belong to economically weaker sections have easy access to education loans, the National Medical Commission (NMC) has directed medical colleges to provide information about the availability of such schemes in their prospectus.

The NMC has directed all the All India Institutes of Medical Sciences (AIIMS) in the country, including Bibinagar in the city outskirts, to provide information regarding the availability of education loans under the PM Vidyalaxmi scheme.

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“This facility for meritorious students can be incorporated in the prospectus/admission brochure so that students are made aware of the financial assistance available from banks through the PM Vidyalaxmi scheme,” a recent NMC directive to medical colleges stated.

Similar directives have also been issued by the NMC to colleges such as the Armed Forces Medical College (AFMC), National Institute of Mental Health and Neuro Sciences, Bengaluru, Kasturba Medical College, Manipal, Kasturba Medical College, Mangalore, M. S. Ramaiah Medical College in Bengaluru, and all the ESIC Medical Colleges.”

“All scheduled commercial banks have been advised by RBIS to adopt the Model Education Loan Scheme (MELS), formulated by Indian Banks’ Association (IBA). In order to further enhance the easy and quick availability of education loans for meritorious students of Quality Higher Educational Institutions (QHEIs), the PM Vidyalaxmi scheme enables collateral free, guarantor free education loans by banks through a simple, transparent, student-friendly and digital application process. The details of scheme are available at PM Vidyalaxmi portal (https://pmvidyalaxmi.co.in ),” the NMC directive to medical colleges said.

The NMC in its directive added “All the Medical Colleges/Institutions under the administrative domain of NMC are advised that the information regarding the availability of education loans under PM Vidyalaxmi scheme, for meritorious students may be incorporporated in their prospectus/ admission brochure so that students are made aware about the financial assistance available from banks, through PM Vidyalaxmi scheme”.