Government set to roll out revamped education loan scheme by October 2024: Here is all you need to know

On July 23, Finance Minister Nirmala Sitharaman announced a new education loan scheme in the 2024 Budget, offering up to Rs 10 lakh in loans for domestic higher education. E-vouchers and a 3% interest subsidy will benefit one lakh students annually. The scheme, expected to launch by October, will require collateral only for amounts exceeding Rs 7.5 lakh.