The National Medical Commission (NMC) has issued a public notice advising 50 premier medical institutions across India to prominently feature details of the Model Education Loan Scheme (MELS) and the PM Vidyalaxmi scheme in their prospectuses and admission brochures. This directive aims to ensure that meritorious students are fully aware of the simplified and accessible financial assistance options available for their higher education. This public notice was issued on June 15, 2025 and published on June 16, 2025.
The move comes as the Reserve Bank of India (RBI) has already advised all Scheduled Commercial Banks to adopt the Model Education Loan Scheme (MELS), a framework formulated by the Indian Banks’ Association (IBA). Complementing this, the PM Vidyalaxmi scheme, launched on November 6, 2024, seeks to further enhance the swift availability of education loans for students enrolling in Quality Higher Educational Institutions (QHEIs).
A key highlight of the PM Vidyalaxmi scheme is its student-friendly approach, offering collateral-free and guarantor-free education loans through a simple, transparent, and digital application process.
The NMC’s directive specifically targets 50 medical colleges and institutions identified in an Annexure, which are under the administrative purview of the Commission. These institutions are now advised to incorporate information about these loan schemes into their official admission materials.
This initiative is expected to significantly ease the financial burden on deserving students aspiring for medical education, promoting greater access to quality higher education by simplifying the loan application process and removing traditional barriers like collateral and guarantors.
