Education in India has always been a challenge. To tackle this, the central government has launched various schemes that provide financial help for student education.
Let’s talk about different schemes for students.
Here is the list of best schemes for students
Under this scheme, the Bihar government offers free laptops to students who have passed their 10th and 12th-grade exams. This program aims to support students as they pursue their academic goals and make them digitally savvy.
This is one of the scholarship schemes for SC/ST students, intended to provide financial assistance to institutions that are prepared to make additional efforts to help and prepare SC/ST students for the GPAT, GATE, CAT, CMAT, and GRE exams. The scheme's main goal is to support aspirant SC/ST kids who want to pursue higher education through admissions tests like CAT, TOEFL, IELTS, GRE, and GATE.
The Prime Minister's Special Scholarship Scheme (PMSSS) was launched in 2011. This is one of the most effective schemes for students that was introduced to provide financing to 5,000 deserving students each year to study in private and government educational institutions across the country. The PM Scholarship Scheme aims to develop capabilities in J&K youth, educate, enable, and empower them to compete in normal courses, and improve and enhance job opportunities for J&K students.
In addition to other grants, the PMSSS-selected students may get a scholarship worth up to ₹3 Lakhs annually.
The main goal of this program is to support SC/ST students who want to start their own businesses or startups after completing their formal education or in their last year of study. The government provides financial assistance of ₹20 Lakhs.
The Ministry of Human Resource Development (MHRD) created the Saksham Scholarship Scheme, which is carried out through the All India Council for Technical Education (AICTE). The program is specifically designed for disabled students to support and motivate them to pursue technical education. This scheme offers impaired students the chance to continue their education and get ready for a prosperous future.
Selected students get financial aid of ₹50,000 each year, of which ₹30,000 is used to repay tuition fees and ₹20,000 is used for incidentals annually.
The Government of India introduced NAPS in August 2016 to encourage apprenticeship throughout the nation by offering financial, technological, and advocacy assistance.
The plan consists of the following two elements:
In June 2006, the Prime Minister unveiled the New 15-Point Program for the Welfare of Minorities. It stipulates the implementation of a post-matric scholarship program for deserving students from minority populations.
The program's goal is to offer deserving minority students from economically disadvantaged areas scholarships in order to improve their access to higher education, raise their rate of completion of higher education, and improve their employability. This award offers financial aid, notably for courses from the 11th grade to the doctoral level.
Students, especially in the minority section, comprise over 19.3% of the country’s population. Most of them are unable to get any form of education for multiple reasons, and to support their education, these schemes play a crucial role in the development of their future.
The government has launched several schemes to provide financial assistance to students, including Prime Minister’s Special Scholarship Scheme (PMSSS), Post-Matric Scholarship Scheme for Minorities, Prerana Scheme for SC/ST Students for Higher Education, etc. You may check for benefits offered by these schemes by doing thorough research. This will help to identify the scheme with the best returns.
Several schemes are available in the market, each with its own set of features & benefits. In order to find the best investment alternative, you may do a comparison between these schemes according to their interest rates, tenures, returns, etc. By doing so, you will be able to find an option as per your requirements.
The last scheme from the PM's office is Prime Minister’s Scholarship Scheme (PMSS)
The ‘Prime Minister’s Scholarship Scheme (PMSS)’ aims to encourage technical and post-graduate education for the widows and wards of the deceased/ex-service personnel of Armed Forces. The scheme is funded out of National Defence Fund administered by Prime Minister’s Office. Scholarships are available for education at various technical institutions (medical, dental, veterinary, engineering, MBA, MCA and other equivalent technical institutions having AICTE/UGC approval).