7 Government Schemes in India Providing Financial Aid for Students

As of 2023, approximately 250 million Indians are 25 years or younger. That means there will likely be an increase in high-skill labor to support the rapidly growing Indian economy. Educating this young population is an excellent way to invest in the nation’s future sustainable growth and development. To enable this, the current administration has rolled out government schemes to support students financially.

So, if you are a student, don’t be surprised that you can be busy with your academics but still benefit from these government schemes. These schemes include;

1. Bihar Free Laptop Yojana

Under the Bihar Free Laptop Yojana program, the government provides free laptops worth approximately ₹25,000 to every student who has passed the 10th and 12th grade examinations. This scheme aims to support the learners as they transition to the next level and continue to pursue their academic goals. It’s also a way to ensure this generation is digitally savvy.

Who qualifies for the Bihar Free Laptop Yojana? All SC/ST students must achieve a minimum of 75% while general category students must get 85%. Note that the program targets all students in government schools, whether in regular or private mediums. Remember, Kushal Yuva program graduates may also be eligible for these laptops.

2. Prerana Scheme for Higher Education

The Prerana Scheme for Higher Education is a government scholarship scheme for SC/ST students. It intends to offer financial support to learning institutions ready to go the extra mile to help and prepare SC/ST learners for the GPAT, CAT, GATE, CMAT, and GRE examinations.

This government scheme aims to support aspirant SC/ST children pursuing higher education through admission examinations such as TOEFL, CAT, GATE, IELTS, and GRE. Note that all AICTE-approved institutions with a minimum of 50 SC/ST students on roll within the past three years and relevant infrastructure are eligible for financial support from this government program.

The institution must also comply with the requirements of the Tribal Sub Plan and Scheduled Caste Sub Plan of the Government of India. The scheme is expected to run for two years, which means pre-trial and final year of the student’s graduation.

3. Prime Minister’s Special Scholarship Scheme

Launched in 2011, the PMSSS is a scholarship program provided by AICTE to offer financial support for students from Jammu, Kashmir, and Ladakh regions. It aims to help students from these regions pursue their undergraduate studies in higher learning institutions outside the mapped Union Territories (UT).

Only students who have passed grade 12 from the Jammu-Kashmir board or the CBSE board in Jammu can apply for the scholarship. There are also various courses available under the PMSSS. So the candidates can pick their desired courses from the professional, medical, and general streams under this scholarship program.

Before submitting applications for PMSSS, students should comply with the set requirements. If the applicant doesn’t comply with the following criteria, they may not benefit from this scholarship program.

  • The applicant must be a permanent resident of the Jammu, Kashmir, and Ladakh regions.
  • Applicants eligible for national tests like JEE, NEET, and CLAT may also qualify for the PMSSS.
  • The applicant must pass grade 12 from J&K and CBSE-affiliated learning institutions in the aforementioned territories.
  • The applicant’s family’s annual income shouldn’t be over Rs 8 lakh.
  • The applicant must meet the age requirements set by the learning institution they want to enroll in.

Under this scholarship scheme, about 2830 scholarships will be provided. Each scholarship will cover up to 1 lakh rupees of maintenance costs and up to 1.25 lakh rupees as academic fees, which will be paid to the learning institution the student is enrolled in.

4. Samriddhi Scheme for SC/ST Students

This government sponsorship program offers financial help to SC/ST students who intend to start businesses. It offers up to ₹20 Lakhs and aims to help such learners design, launch, and run their start-ups successfully.

You must have a registered company or start-up to qualify for this government scheme. The scheme focuses majorly on the non-technological entrepreneurship model. That’s why the applicants must set up a retail outlet following a thorough training process that the franchisor will fully fund. Other eligibility requirements include;

  • The applicant must be from the SC/ST caste.
  • The candidate must graduate or enroll in an AICTE-approved university or college.
  • At least five years should have passed since the higher learning institution was opened.
  • The applicant should have worked at the facility for three consecutive years.

The higher learning institution must comply with the regulations of the government’s caste or tribal sub-plan.

5. Saksham Scholarship Scheme

This is one of India’s top government schemes for students to earn money or financial support. It is designed to provide financial support for specially-abled students across the country who are pursuing degree-level courses. Providing up to ₹50,000 annually for up to 3 years of study, this program is open to all specially-abled students enrolled in AICTE-approved learning institutions.

6. National Apprenticeship Promotion Scheme

Widely known as NAPS, this government scheme is intended to promote apprenticeship among Indian students. It offers financial support or incentives to employers who hire apprentices and provides basic training. It also includes sharing 25% of the recommended stipend (up to ₹1500 monthly) with the employers and sharing training costs of up to ₹7,500 per apprentice.

7. Post-Matric Scholarship Program for Minorities

This government program helps students from minority areas or communities to pay for post-secondary learning activities. The program is based on financial need and merit. To qualify for this financial support, the applicant should have passed the 10th and 12th-grade examinations with at least 50% and belong to a community classified as minority.

Final Thoughts

Many government schemes exist for students to get financial support in India. These are initiatives intended to encourage higher education, bridge the skill gap, and invest in the future of the nation’s growth. Be sure to check the eligibility requirements before submitting your application.

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