Foreign Education Scheme

About This Scheme

The "Foreign Education Scheme" introduced by the Social Justice and Empowerment Department, Gujarat, is designed to support meritorious students from economically weaker sections who wish to pursue higher education abroad. The financial assistance helps cover tuition fees, living expenses, and other educational costs. The repayment structure is flexible, ensuring students can repay the loan after completing their studies. The scheme is being implemented by the Gujarat Unreserved Education and Economical Development Corporation.

Eligibility

1. The applicant must belong to a unreserved category. 1. The applicant must have scored 60% or more in Standard 12. 1. The applicant must have secured admission to an MBBS, graduation, post-graduation, or equivalent diploma course abroad. 1. The applicant’s family's annual income must be ₹6,00,000/- or less.

Benefits

Financial Assistance: A loan of the total tuition fee of the entire course or ₹15,00,000/-, whichever is less, will be provided by the Corporation at a simple interest of 4%. Collateral: - For loans of total loan amount of ₹7,50,000/- or less for the entire course, a charge of one and a half times the loan amount will have to be registered on the beneficiary's own property or that of a relative. - If the total loan amount for the entire course is more than ₹7,50,000/-, the immovable property of oneself or any other relative equal to that total amount will have to be mortgaged in favor of the Corporation. Loan repayment: - In case of total loan up to ₹5,00,000/-, it will have to be repaid in equal monthly installments over 5 (five) years, 1 year after completion of studies. - In case of loan exceeding ₹5,00,000/-, it will have to be repaid in equal monthly installments over 6 (six) years, starting 1 year after completion of studies. - The money from the loan being repaid will continue to be deposited as interest first. - The borrower can repay the loan even before the specified time limit.

How to Apply

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.