Pocket Money is Good, But Salary Sounds Better!
Remember those days in school when ₹20 in your tiffin box pocket felt like winning the lottery? You bought samosas for the whole gang and still had change for a mango bite. Fast forward to college, and suddenly, life costs more…Netflix subscriptions, project fees, overpriced coffee, and the occasional pizza to remind yourself that you’re alive.
Now, what if I told you that the Government…yes, the same one you blame for potholes – actually has your back when it comes to money? From scholarships to startup grants, there are official government schemes for students to earn money. And the best part? You don’t need to sell your kidney or your dignity on shady online apps.
This blog is your cheat sheet to these schemes…how to earn, save, invest, borrow, spend, and protect money, all while still worrying about your next semester exams.
Why Students Need to Think About Earning Early
Before we jump into the schemes, let’s get real. Why should students even bother earning when their main job is to study?
- Financial Independence: No more begging for pocket money.
- Skill Development: Real work means real skills (and LinkedIn bragging rights).
- Confidence Boost: Money earned feels different from money gifted.
- Future-Ready: The earlier you manage money, the better adult you’ll be.
As one famous quote goes:
“Don’t just study to earn degrees, study to earn freedom.”
Government Schemes in India for Students
Let’s start with home turf—India. Our government has actually rolled out some amazing opportunities. Sadly, many students either don’t know about them or assume they’re “too complicated.” Let me break it down like chai and pakoras—easy to digest.
1. National Apprenticeship Promotion Scheme (NAPS)
- What is it?
A scheme where students get paid while they train with real companies. - Who can apply?
Anyone over 14 years, including ITI students, undergraduates, or diploma holders. - Earnings:
Stipend support of 25% of prescribed stipend (up to ₹1,500 per month). - Bonus:
Industry experience + certificate + some extra cash for those samosas.
2. Skill India Mission
- What is it?
Initiative under Pradhan Mantri Kaushal Vikas Yojana (PMKVY) to make students job-ready. - Earnings:
Stipends during training, plus higher salaries when you actually land a job. - Example:
Radhika, a student from Jaipur, took a short digital marketing course under PMKVY, and within 3 months, she was freelancing online and making more than her cousin working in a call center.
3. National Scheme of Incentive to Girls for Secondary Education
- For whom?
All girl students who pass class 8 and enroll in secondary school. - Money part:
A fixed deposit of ₹3,000 is made in her name, which she gets at 18. - Moral of the story:
If you’re a girl student—this is literally money waiting for you.
4. Start-up India Seed Fund Scheme
- What is it?
Government grants and funds for students with startup ideas. - How much?
Up to ₹20 lakh for prototype development, and up to ₹50 lakh for market entry. - Case study:
Two IIT Delhi students pitched a health-tech idea and got seed funding. Today, their app is valued in crores.
5. National Scholarship Portal (NSP)
- Why it matters?
Tons of scholarships—from merit-based to means-based. - Money angle:
Monthly allowance + tuition support. - Pro tip:
Even if you think you’re “not poor enough,” apply—you’d be surprised at the number of middle-class students benefiting.
6. Earn While You Learn Scheme (Some States Like Goa)
- Model:
State-specific initiatives where students work part-time in universities and government departments. - Earnings:
₹50–100 per hour. Might sound small, but hey, combine it with free Wi-Fi, and you’re winning.
2: Global Government Programs Students Can Learn From
Even if you’re based in India, it helps to know what students abroad are doing—it inspires and opens doors.
USA: Federal Work-Study (FWS) Program
- How it works:
Students work part-time (on-campus/off-campus) and earn while studying. - Average pay: $7–15/hour.
- Lesson for Indian students:
Side hustles + studies = win-win.
UK: Student Finance England & Apprenticeships
- Finance help:
Tuition + living support. - Apprenticeship model:
Students work with companies, earn salaries, and avoid big student loans.
Germany: “Mini-Jobs” & Free Education
- Students can earn up to €520/month tax-free.
- Plus, free higher education = double savings.
3: How Students Can Actually Benefit
Okay, now that we’ve listed schemes, let’s get practical.
Tips to Maximize Government Schemes
- Do Your Homework (Outside Class): Spend one Sunday exploring National Scholarship Portal.
- Keep Documents Ready: Aadhaar, income certificate, marksheets—don’t wait till the last date.
- Apply Everywhere: Scholarships are not exclusive. You can combine state, central, and private.
- Use Tech Tools:
- Buddy4Study – scholarship updates
- DigiLocker – for safe document storage
- Umang App – government services in one place
4: Beyond Money – Skills & Networking
Here’s the twist: government schemes are not just about free money. They’re about building your future.
- Internships through NAPS → Future Jobs
- Startup Grants → Networking with Investors
- Scholarships → International Exposure
Think of it this way: These schemes are cheat codes for adulting.
5: Money Management for Student Earners
Earning is step one. Managing is step two.
- Save: Start a zero-balance student savings account.
- Invest: Even ₹500 in SIP (Systematic Investment Plan) can grow.
- Borrow Smart: Education loans under government subsidy = low interest.
- Spend Wisely: Track with apps like Walnut or Jupiter.
- Protect: Don’t fall for scams promising “double returns.” If it looks too good to be true—it usually is.
6: Common Myths Busted
- “Government schemes are only for poor students.”
– Wrong. Many are merit-based or skill-based. - “Too much paperwork, forget it.”
– Most schemes are online now—3 clicks away. - “You can’t earn decent money as a student.”
– Tell that to students earning ₹10–20k/month freelancing after PMKVY training.
Don’t Just Dream, Apply!”
Government schemes for students to earn money aren’t just about free cash—they’re stepping stones to independence, skills, and a better future. If you’re reading this, the only thing stopping you from grabbing these opportunities is… well, you not applying.
So, here’s your homework (yes, one last assignment):
- Bookmark the National Scholarship Portal.
- Explore Skill India programs.
- Talk to your college about state-level Earn While You Learn options.
- Share this blog with friends (don’t be that guy who eats the whole pizza alone).
If you found this guide useful, hit subscribe to TheMoneyWagon.com, drop a comment with your questions, and share this with every student WhatsApp group you’re in. Because hey—money may not buy happiness, but it sure buys better Wi-Fi.
