Discover the top Government schemes for students in India that offer financial aid, scholarships, and loans to make quality education accessible for all in 2025.
Education is considered the backbone of a nation’s progress, both financially and socially. It plays a significant role in creating a skilled workforce that contributes to the country’s economy and in fostering equality, awareness, and innovation among its citizens. Literate and educated individuals make better and sounder decisions in every aspect of life, and government schemes for students help ensure that every learner gets the chance to reach this stage.
When the nation’s citizens are aware enough to comprehend the bigger picture of national and global affairs, the country has a higher chance of moving up in the global rankings. This, in turn, leads to reduced crime rates and a significant improvement in the overall quality of life of the citizens.
To support this vision, the Government of India has introduced several government schemes for students, to ensure that finances are not a barrier to education. These programmes are designed to give learners a strong push in the right direction and to make quality education accessible for all. Described below are 3 of many such schemes that have made a meaningful impact:
West Bengal Health Scheme Portal: healthscheme.wb.gov.in, Free ₹2 Lakh Cashless Medical Service →1. West Bengal Student Credit Card Scheme
The purpose of this program is to assist students in pursuing secondary, higher secondary, undergraduate, graduate, professional, and other comparable courses at any school, madrasah, college, university, and other associated institutions both inside and outside of India. This loan is also granted to students enrolled in different coaching programs preparing to take competitive exams such as the Engineering, Medical, Law, IAS, IPS, WBCS, and others.
Benefits:
- After interest subsidy or interest discount, the scheme offers a maximum loan amount of ₹10,000,000 at a simple annual interest rate of 4%.
- For loans up to ₹10,000,000, the interest rate is fixed at the time of sanction and is equal to the State Bank of India’s current 3-year MCLR plus 1%.
- The loan is available to students at any time while they are enrolled in classes.
- The loan application must be co-submitted by the parent or legal guardian and the student.
- The terms of the loan will be formally agreed upon by the bank, the student, and their parents or legal guardians.
Margin money:
- 5% over Rs. 4,00,000; 0% up to Rs. 4,00,000.
- Assistance ships and scholarships are included.
- Paid in proportion to the amount released (paid pro rata as disbursements are made).
Eligibility:
- Ten years as a resident of West Bengal and an Indian citizen (self-declaration).
- The applicant must not have crossed the age of 40 at the time of application.
- Applicants should be enrolled in higher education programs within or outside the country in schools, madrasahs, colleges, universities, IITs, IIMs, IISc, IIESTs, ISIs, NLUs, AIIMSs, NITs, XLRI, BITS, SPA, NID, IIFTs, ICFAI Business School, etc. or studying in coaching institutes for various competitive exams such as Engineering, Medical, Law, IAS, IPS, WBCS, SSC, etc.
Note: Following each semester or year, students file their progress reports.
2. Medhashree Scholarship Scheme
The “Medhashree Scholarship Scheme” was initiated by the Chief Minister of West Bengal, Ms Mamta Banerjee, on January 19, 2023. Since the Central Government has decided to withdraw from the scholarship programmes for the OBC (Other Backwards Classes) Community, the West Bengal State Cabinet has authorised this scheme. Students from grades 5 through 8 who belong to underprivileged groups, backwards classes and other minority populations will be granted the scholarship.
This scholarship is put in place to assist students in several West Bengal cities with their academic journeys. Offering financial support to the economically disadvantaged segment of society is the main aim of this fellowship. It will help students get one step ahead in achieving their academic, professional and personal goals.
Benefits:
Under this government scheme for students, the scholarship would give recipients who applied for it, a grant of Rs. 800 per month.
Eligibility:
- Candidates must be West Bengal residents.
- Candidates must be members of the Other Backwards Classes (OBC) and minority groups.
Helpline Number: 1800-120-2130
3. Sikshashree Scheme
The Government of West Bengal merged the existing schemes of Book Grants & Maintenance Grants to offer financial support to the kids of Schedule Castes from the grades 5 through 8, establishing the “Shikshashree Scheme”, during 2014-15.
Earlier, day scholar students from the Scheduled Caste grades 5-8 were eligible for two kinds of grants: first, a book grant, and second, a maintenance grant. These grants were fewer in number and failed to accomplish their intended goal. Additionally, the process of choosing individuals and making payments was laborious and time-consuming.
To help the target group get rid of this issue, a new program called the “Shikshashree Scheme” is being developed, and to offer Schedule Caste (SC) students from grades 5 through 8 high-quality help in a seamless, open, and effective manner.
By combining the previous Book Grant and Maintenance Grant programs, the “Shikshashree Scheme” was developed to help SC day scholars from grades 5-9. It applies to West Bengal day students enrolled in classes 5-8 at all government-run, government-aided, and government-recognised schools in the state.
Objective:
The goal is to reduce the rate of dropouts, particularly among female students, and increase the involvement of SC students studying in grades V through VIII by offering them financial aid.
Benefits:
- Under this government scheme for students, eligible students will receive financial assistance only through their bank accounts. Students from classes 5-7 will get Rs. 750 per annum, while students of class 8 will receive Rs. 800 per annum.
- To increase student involvement in pre-matriculation stages and reduce dropout rates, particularly for female students.
Eligibility:
- The students must be between grades 5-8, and members of the Scheduled Caste.
- The student’s household income should be under Rs 2,50,000 lakh per annum.
- This scholarship is only available to West Bengal day scholars.
- The candidate must be enrolled full-time in either a West Bengal government school, government-aided school, or a government-recognised institution.
- Once granted, the award will remain valid if the student applies again up to class VIII, maintains good behaviour and attendance, and meets all other eligibility requirements.
- For the same period, the applicant should not receive any additional scholarships or stipends. This scholarship must be returned if it is found that the recipient has taken any similar material from another source.
- The candidate must have an account with a nationalised bank that offers fundamental banking services.
- Scholarships for each class will only be offered for a single year. A student would not receive a scholarship for that class for a second year if they had to repeat it. However, if the existing applicant is otherwise qualified, he or she will benefit if they are promoted to the following class later.
Every student can now afford and access education, thanks to these government student programs. They offer the financial support required to pursue academics stress-free, creating possibilities for further education, skill improvement, and better employment prospects. Students can confidently take the first step towards creating a prosperous future by applying for the appropriate program at the appropriate time.
