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Best Schemes for Students in India

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Best Schemes for Students in India

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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. 

Best Schemes for Students in India

Here is the list of best schemes for students

Bihar Free Laptop Yojana

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. 

Eligibility Criteria 

  • The student must have completed their 10th or 12th grade.
  • The student must be a permanent resident of Bihar. 
  • Students who have completed or are currently completing training under the Kushal Yuva Program are eligible to get a free laptop under this scheme. 
  • Students must have received their education from a government school. 

Prerana Scheme for SC/ST Students for Higher Education

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.

Eligibility Criteria 

  • Colleges or universities should be qualified for scholarship programs and can get financial support.
  • A certain institute or university authorised by AICTE departments should have been in operation for at least 10 years.
  • The institute or university must have at least 50 students from the SC/ST category for three consecutive years.

Prime Minister’s Special Scholarship Scheme (PMSSS)

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.

Eligibility Criteria 

  • Students must be residing in the J&K and Ladakh Union Territories.
  • Students must have graduated from the J&K Board or CBSE-affiliated schools in the UTs of J&K and Ladakh. 
  • Students must have completed the 10+2 exam. 
  • Students must have a family income of less than ₹8 Lakhs per year.

Samriddhi Scheme for SC/ST Students

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. 

Eligibility Criteria

  • The candidate must belong to the SC/ST caste.
  • The applicant must be enrolled in or a graduate of an AICTE-approved college or university.
  • A minimum of five years should have passed since the institution or university was opened.
  • There should be at least 50 candidates that fall into the SC/ST caste group.
  • The candidate must have worked at the Institute for the previous three years.
  • Educational institutions should follow the regulations of the Indian government's scheduled caste or tribal sub-plan.

Saksham Scholarship Scheme

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.

Eligibility Criteria 

  • The scholarship is solely available to disabled students.
  • A 40% disability level is the minimum acceptable level.
  • The family's combined annual income must be less than ₹8 Lakhs.
  • The students must have enrolled in the first year of a technical diploma or degree program at an Indian institution recognised by the AICTE.

National Apprenticeship Promotion Scheme (NAPS)

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:

  • Sharing 25% of the authorised stipend with the employers, up to a maximum of ₹1,500 per apprentice per month.
  •  A maximum of ₹7,500 per apprentice will be shared for the expense of the fundamental training.

Eligibility Criteria

  • The applicant must have reached the age of 14 and complies with all other provisions of the 1961 Apprentices Act.
  • Each apprentice must create an account on the site.
  • It is mandatory to have an Aadhaar card. 
  • The applicant must meet the minimum age, educational, and physical requirements. 

Post-Matric Scholarship Scheme for Minorities

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.

Eligibility Criteria 

  • Students from 11th grade to PhD level are eligible. 
  • Students from minority communities who received at least 50% in their prior exam or an equal grade are eligible to apply for this grant.
  • Their family's total annual income should be less than ₹2 Lakhs.

Summing it up

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. 

Frequently Asked Questions

1. Which scheme gives the best return?

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. 

2. Which is the best scheme in India?

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.

3. What is Pradhan Mantri new scheme for students?

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).

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