GujaratEducation & LearningBanking,Financial Services and Insurance

Foreign Study Loan

About This Scheme

The scheme "Foreign Study Loan" implemented by the Gujarat Unreserved Educational and Economical Development Corporation (GUEEDC), Social Justice and Empowerment Department, Government of Gujarat, provides financial assistance to students from non-reserved categories pursuing higher studies abroad. The scheme provides overseas study loans of up to ₹15,00,000/- for specific courses, including Bachelor of Medicine, Bachelor of Surgery, post-graduation courses (valid even if obtained after diploma), post-graduation diploma, and equivalent courses after Class 12th. To be eligible, the applicant must have scored 60% or more in Class 12 and belong to a family with an annual income of ₹6,00,000/- or less. The loan carries simple interest at the rate of 4% per annum with repayment terms varying based on the loan amount.

Eligibility

- The applicant must belong to the non-reserved category. - The applicant must be pursuing higher studies abroad. - The applicant must be enrolled in Bachelor of Medicine, Bachelor of Surgery, post-graduation courses (valid even if obtained after diploma), post-graduation diploma, or equivalent courses after Class 12th. - The applicant must have scored 60% or more in Class 12th. - The applicant must belong to a family with an annual income of ₹6,00,000/- or less.

Benefits

Loan Amount: Up to ₹15,00,000/- for overseas study. Interest Rate: Simple interest at 4% per annum. Repayment Grace Period: 1 year after completion of study before repayment begins. Flexible Repayment: Borrower can repay the loan before the stipulated time limit. Repayment Schedule - For loans up to ₹5,00,000/-: Equal monthly installments over 5 years. - For loans above ₹5,00,000/-: Equal monthly installments over 6 years.

How to Apply

Online

See official source for details

Where This Comes From

This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.