The amount under the 'Perunthalaivar Kamarajar Education Assistance scheme' was handed over to managements of colleges where the students are doing their courses, a release from Directorate of Higher Education said.
Government has this year earmarked Rs 40 crore as subsidy.
Already in the first batch of beneficiaries government had disbursed Rs 26.56 crore, benefitting 642 medical and 4905 engineering students this year.
The government had totally disbursed Rs 39.99 crore under the scheme, with the disbursement of the amount today covering totally 7426 students in the two courses,it said.