Vijayawada Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Thursday released Rs 45.53 crore under Jagananna Videshi Vidya Deevena benefiting 357 students who got admission in top-ranking 50 universities abroad for higher studies.

The amount will be directly credited into the bank accounts of beneficiaries’ mothers.

Releasing the amount from his camp office at Tadepalli near here, he said that the scheme is a boon to meritorious SC, ST, BC, minority and EBC students who want to study abroad but are facing financial difficulties.

Under Videshi Vidya Deevena, being implemented in full transparency, the government will extend financial assistance to all eligible students in saturation method, he said, adding that students can apply for assistance in full confidence.

“Parents of such students should not fall into debt trap. For this reason, the government is handholding all eligible students at every step from paying airfare and visa charges to completing their courses in top 50 universities abroad as per the QS (Quacquarelli Symonds) World University and Times Higher Education rankings,” he said.

Total fees up to Rs 1.25 crore to SC, ST, BC and minority students and up to Rs 1crore to EBC students would be reimbursed, he said, adding this will help students pursue academic careers in 21 faculties in 320 educational institutions abroad.

Listing out the fees in top colleges abroad, he said that one has to pay Rs 1.32 crore for pursuing MBA in Booth School of Business, Chicago University, Rs 1.02 crore for MS course in University of Manchester, Rs 1.16 crore for MBA in Tepper School of Business, Carnegie Mellon University, Rs 1.13 crore for MBA in London Business School and Rs 1.11 crore for MS in Columbia University. The fees vary from Rs 61 lakh to Rs 2.06 crore for pursuing MBA and MS courses in other universities abroad.

“I thought unless our students are supported with financial assistance to pursue higher education in these top colleges and universities, they can’t become leaders,” he said, stating this is the idea behind implementation of the scheme. This will help the aspirants become global leaders so that they can become CEOs of top companies in the world, Reddy said.

During the TDP rule, SC, ST, BC and minority students got only Rs 15 lakh while EBC students received Rs 10 lakh as financial assistance while they are now receiving up to Rs 1.25 crore.