As a student, the idea of making money can be highly intriguing. However, the process of making money is never easy during the academic years. While some students may offer tuitions to juniors, others may scan other skills—but, does that reap great results? Mostly not!
Fortunately, here’s some good news.
As you try your best to make money as a student, the Government of India also has some great schemes to help you.
Let’s take a look at some of the best Government schemes for students to earn money in India.
Best government schemes for students: 2024
From scholarships to skill development programs, these schemes offer a variety of opportunities for students to earn while they learn. Whether you’re aiming for higher education or exploring entrepreneurship, there’s something of interest for everyone.
1. Seekho aur Kamao yojana
Launched by the Madhya Pradesh government in the year 2021, Seekho aur Kamao yojana is an empowerment scheme aiming to help youngsters (between ages 18-29) acquire new skills and avail employment. The aim of this scheme is to improve the employability of existing workers, school dropouts, etc.
Benefits
The primary benefit of Seekho aur Kamao yojana is that the eligible applicants will get training in various fields. The skills that they acquire from the process can be monetised, helping them earn a living (at least ₹8,000-10,000 every month).
Who can avail?
Now, moving forward to eligibility, you can participate in this scheme if you are:
- between 18-29 years old
- 12th, Polytechnique, ITI, or other diploma pass
- a resident of Madhya Pradesh
2. Berozgari Bhatta Yojana
Have you heard about the Pradhan Mantri Berozgari Bhatta Yojana?
It’s a pretty neat program aimed at helping educated young folks who are currently unemployed.
Here’s the scoop: The government will give a monthly allowance ranging from ₹1000 to ₹2500 to young people across the country who have a degree but haven’t found a job yet. This program is expected to benefit around 20 crore young individuals in our nation. It’s a fantastic initiative because it provides much-needed support to those who are trying to make a living on their own. So, if you’re one of those educated young people looking for work, this scheme could come in handy.
Benefits
The government can feel their pain. You can imagine how painful it is to manage everything and every expense while there is no job or no earnings. This scheme will also encourage people to learn more new skills so that the opportunity will be more for them.
Eligibility for Berozgari Bhatta Yojana
- The applicant must reside in India.
- Age requirements for Pradhan Yojana 2023 applications are 21 to 35 years old.
- The application for the plan must have a 12th-grade diploma and a copy of any graduate or postgraduate transcripts.
Those young people in the nation who are struggling to find employment will be eligible for this program. Under this scheme, a family’s annual income must be ₹ 3 lakhs or less.
3. Prime minister’s special scholarship
The second one, on our list of government schemes, is the PM Scholarship Scheme! It’s a real game-changer for students who wish to earn a few extra bucks while grinding at academics.
So, here’s the scoop: every year, about 5500 lucky students get picked to receive this scholarship. It’s not just about the money – although that’s a big plus!
Under this scheme, boys get ₹2500 per month, while girls receive ₹3000 every month. This adds up to ₹30,000 a year for boys and ₹36,000 a year for girls. Sweet deal, right?
This scheme isn’t just about handing out cash—it’s about showing support and giving recognition to students who are working hard to achieve their dreams.
So, if you’re a student looking to take some of the pressure off, the PM Scholarship Scheme is something you should look into. It’s all about helping you succeed and making sure you have the support you need to reach your goals.
Procedure to apply
- You must be a resident of Jammu and Kashmir or Ladakh.
- You should have graduated from a J&K Board or CBSE-affiliated school in these areas.
- Completed your 10+2 exam.
- Your family income should be less than ₹8 Lakhs per year.
Benefits
Under this scheme, eligible students can receive financial support for their academic and maintenance expenses. For non-medical streams, up to INR 1.25 lakh per annum is allocated for academic fees, payable directly to the institution. Additionally, students receive maintenance charges of INR 1 lakh per annum, directly disbursed to them. A total of 2830 scholarships are available under this category.
For MBBS/BDS or Equivalent Medical Streams, students can receive enhanced financial assistance. The academic fee support reaches up to INR 3 lakh per annum and is paid to the institution. Considering non-medical streams, maintenance charges of INR 1 lakh per annum are provided to the students. A total of 100 scholarships are available for medical stream students.
This scheme aims to alleviate the financial burden on students pursuing higher education and ensures equitable access to quality education across various streams.
4. Bihar free laptop scheme
The Bihar government’s initiative, the Bihar Free Laptop Yojana, is a commendable effort to empower students and promote digital literacy. Under this scheme, students who have successfully passed their 10th and 12th-grade exams are eligible to receive free laptops worth ₹25,000 each.
The primary goal of this program is to provide support to students as they pursue their academic endeavours and equip them with the necessary digital skills for the modern world. By offering free laptops, the government aims to bridge the digital divide and ensure that every student has access to technology for educational purposes.
The scheme also aims to distribute over 30 lakh laptops, thereby reaching a large number of students across the state. Eligibility extends to students in government schools, including those studying in both regular and private mediums. Additionally, graduates of the Kushal Yuva program, which focuses on skill development, are also eligible to receive laptops under this scheme.
Benefits
Overall, the Bihar Free Laptop Yojana is a significant step towards promoting education and digital inclusion among students in the state. By providing them with access to technology, the government is empowering the youth to excel academically and thrive in an increasingly digital world.
To qualify for the Bihar free laptop yojana, students must meet certain eligibility criteria.
The first criterion is that the student’s family income should be less than 3 lakhs per annum.
Moving further, to avail of the scheme benefits, SC/ST students must achieve a minimum of 75% in 10th or 12th standard exams, and general category students must achieve at least 85% marks in these exams. This criterion ensures that the laptops are allocated to deserving students who have worked hard and done well in exams.
5. Stand-up India
Stand-up India is a flagship initiative launched by the Government of India to promote entrepreneurship among women, Scheduled Castes (SCs), and Scheduled Tribes (STs). The primary objective of the Stand Up India scheme is to empower these underprivileged sections of society by facilitating bank loans to set up greenfield enterprises.
Benefits of the stand-up India scheme
Stand-up India Scheme facilitates bank loans between Rs 10 lakh and Rs 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise.
Here’s a detailed overview of the stand-up India scheme
- Stand-up India primarily targets women, SCs, and STs who aspire to become entrepreneurs and start their ventures.
- Stand-up India supports ventures across various sectors, including manufacturing, services, and trading activities
- The interest rates for Stand-up India loans are competitive and affordable, making it easier for entrepreneurs to manage their repayments and sustain their enterprises.
6. Saksham scholarship scheme
The AICTE Saksham Scheme is like a helping hand for specially-abled students across India who are pursuing degree-level courses. It’s open to all these amazing students who are enrolled in full-time degree programs at AICTE-approved institutions. What’s awesome about this scheme is that it provides a scholarship amount of ₹50,000 per year for up to 3 years of study.
Imagine that – getting some extra financial support every year to help you focus on your studies and reach your goals! The main goal of this initiative is to empower specially-abled students and give them the assistance they need to succeed in their educational journey.
So, if you’re a specially-abled student dreaming of pursuing your degree, this scheme is here to support you every step of the way. It’s all about making sure that nothing holds you back from achieving your dreams, and with the AICTE Saksham Scheme, you’ll have the financial aid you need to make it happen.
Benefits
Every specially-abled student who qualifies will receive ₹50,000 each year of their studies as a lump sum. This money can be used for various expenses like college fees, buying computers, books, stationery, software, equipment, and more. It’s a great way to support students in their educational journey. It’s important to note that this grant doesn’t cover additional expenses like hostel charges or medical fees.
Eligibility
Now you need to understand the eligibility before you apply for this scheme-
- For first-year admitted students, a maximum of 4 years for a degree and 3 years for a diploma.
- For second students, a maximum of 3 years for a degree and 2 years for a Diploma.
7. Samriddhi scheme for SC/ST students
This scheme is all about giving a boost to SC/ST students. The main idea? To encourage them to become entrepreneurs and chase their dreams! The government is eager to help these students kickstart their businesses or pursue their passions in life.
And guess what? As part of this scheme, SC/ST students can get financial assistance of up to ₹20 lakh. It’s no wonder this scheme is a hit among students looking to earn some extra cash and make their mark in the world!
This initiative is popular because it’s all about giving students the support they need to turn their ideas into reality. With this financial aid, SC/ST students can break down barriers and set off on their entrepreneurial journey with confidence.
Not only does this scheme help individual students, but it also plays a big role in uplifting entire communities. By promoting entrepreneurship, the government is paving the way for a brighter, more prosperous future for everyone.
So, if you’re a student from the SC/ST community with big dreams and ambitions, this scheme is here to lend a helping hand. It’s your ticket to turning your ideas into success stories and making a positive impact on the world.
Benefits
the scheme promotes inclusivity and diversity in the business world by encouraging participation from underrepresented groups. It creates a level playing field where SC/ST students can compete on merit and talent, regardless of their background.
Furthermore, the scheme offers mentorship and guidance to help students navigate the complexities of starting and running a business. This support network enhances their chances of success and equips them with the necessary skills and knowledge to thrive in the competitive market landscape.
Overall, the scheme empowers SC/ST students to pursue their entrepreneurial dreams, create employment opportunities, and drive positive change in society, ultimately leading to their personal and professional growth.
Eligibility
- Students should be in the final year of his/ her degree/ diploma course.
- Students should have a registered company/ start-up in his/her name.
- AICTE approved Institutes / AICTE approved University Departments.
- Institute/University Departments must be in existence for at least ten years.
8. National Apprenticeship Promotion Scheme (NAPS)
This initiative represents a fresh endeavour by the Government of India aimed at offering financial assistance to establishments willing to engage in apprenticeship training.
Apprenticeship training plays a vital role in bridging the gap between theoretical knowledge and practical skills, equipping individuals with hands-on experience essential for their professional growth. Recognizing the significance of this form of training, the government has introduced this scheme to encourage more organizations to participate in apprenticeship programs.
The scheme operates on the principle of providing financial support to establishments willing to take on apprentices. This support serves as an incentive for organizations to actively engage in training activities, thereby enhancing the overall quality of the workforce.
Benefits
This scheme offers basic training and includes sharing 25% of the prescribed stipend (up to ₹1500/month) with employers and sharing basic training costs (up to ₹7,500/apprentice).
Eligibility
- Trainees passed out from ITI courses
- Trainees under “dual-learning mode of training” from ITIs
- Trainees who have completed PMKVY/MES courses
In summary, the various government schemes for students to earn money are like a supportive safety net, offering a range of opportunities to help students financially and boost their personal and professional growth. From scholarships like the Prime Minister’s Special Scholarship Scheme to initiatives promoting entrepreneurship such as Stand Up India, these programs are designed to empower students and provide avenues for financial stability.
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Final words from Dive
While, schemes such as the Atal Pension Yojana and the Bihar Free Laptop Scheme ensure that students have access to resources that can support them beyond their academic years, initiatives such as the Saksham Scholarship Scheme and the Samriddhi Scheme for SC/ST Students provide specific assistance to differently-abled individuals and students from marginalised backgrounds.
And that’s not all. The National Apprenticeship Promotion Scheme (NAPS), Bihar free laptop scheme, and a bunch of other schemes try to ensure that students are empowered in India. However, the empowerment always goes beyond hand-holding.
As a student, one must take responsibility for their finances and try to upskill themselves to be a better fit in the ever-competitive employment market. Plus, it’s also crucial to train oneself in financial-education and the importance of mindful-savings, which Dive Money offers.
