Foreign Education Loan Scheme Gujarat Detail
Foreign Education Loan Scheme Gujarat: Gujarat Non-Reserved Educational and Economic Development Corporation (GUEEDC) works to understand the plight of non-reserved classes. Recommends to the Government for solution by understanding the problems of non-reserved class. After studying various schemes related to social welfare, Bin-Anamat prepares recommendations of welfare schemes for classes. Various welfare schemes are run by the Non-Reserved Class Commission such as Educational Study Scheme Loan, Meal Bill Assistance, Coaching Assistance (Tuition Assistance), JEE, GUJCET, Coaching Assistance for NEET Examination, Training Assistance for Competitive Examination and Foreign Study Loan etc.
The Purpose of Foreign Education Loan Scheme Gujarat
Clean students of non-reserved caste in the state can get good and higher education abroad and the study is implemented by the Government of Gujarat for the purpose of helping the economic situation. “Unreserved Loan” is given by Gujarat Unreserved Educational & Economic Development Corporation.
Scheme Name | Eligibility for Foreign Education Loan Scheme Gujarat |
State | Gujarat |
Launched By: | Government of Gujarat |
Status | Active |
Official Website | Click Here |
Eligibility for Foreign Education Loan Scheme Gujarat
- For MBBS after Std-12, Bachelors (valid even if degree is obtained after Diploma)
- For Master’s Course as well as Post Graduation Diploma or similar course
- Loans up to a total limit of Rs 15 lakh are available for higher studies abroad for any type of research such as technical, paramedical, professional etc.
- Those who have 60℅ or more in Std-12 get the benefit of this scheme.
- If the annual income of the family is less than Rs. 600000 (six lakhs), it is eligible.
Required Documents for Foreign Education Loan Scheme Gujarat
Bin anamat aayog sets the policy for students to take loans for study abroad. The documents prescribed for taking loan of non-reserve scheme are as follows.
- Prescribed sample application form
- Certificate of non-reserved class
- Copy of Aadhaar card
- Certificate of income
- Admission letter
- Copy of marksheet of standard-12 and above studies
- Marksheet of standard – 10 and 12
- School Leaving Example (LC)
- Copy of passport
- Visa Copy
- Air Ticket
- Proof of Fees to be paid / paid every year
- Copy of first page of applicant’s bank passbook
- Mortgage / burden note and 5 bank checks
- Consent letter for property mortgage as per appendix-3
- Approval of the guarantor as per appendix-1 and property valuation report and grounds of property.
Read Also: Divyang Lagn Sahay Yojana Gujarat
Foreign Education Loan Scheme Gujarat Standards
A total of Rs. For non-reserved class students for higher studies abroad for post-graduate as well as post-graduation diploma or other equivalent course after Std. 13.00 lakh foreign study loan will be provided by the corporation.
- Eligibility Criteria: 90% or more in Std-12.
- Interest rate: Simple interest at 5% per annum.
- Income limit: Annual income limit of the family is less than Rs. 4.00 lakhs.
How much loan is available in Foreign Education Loan Scheme Gujarat
Under the Loan For Foreign Study scheme, a total of Rs 15 lakh is available for higher studies abroad at 4% simple interest.
Documents / Bail for Foreign Education Loan Scheme Gujarat
- For a loan of Rs. 7.50 lakh or less for the entire course, the applicant student will have to incur a burden on his or her relative’s property at a cost of one and a half times the loan amount.
- Each borrower will have to give 5 (five) post dated checks signed in favor of the corporation (for the corporation).
- The total loan amount for the full course is Rs. If it is more than Rs 7.50 lakh, the total amount will have to be mortgaged in favor of one’s own or any other relative’s real estate corporation.
Where to Apply for Foreign Education Loan Scheme Gujarat
In order to take a foreign study loan operating as a non-reserve loan, the applicant student has to go to the following website and fill the online form before going abroad. After filling up the online form, the required documents have to be uploaded on the website.
Read Also: Mukhyamantri Bal Seva Yojana Gujarat
Foreign Education Loan Scheme Gujarat Repayment
- Total loan up to Rs. 5.00 lakhs will have to be paid in 5 (five) years in one year after completion of the course.
- In case of loan above Rs. 5.00 lakhs, it has to be paid in equal monthly installments in 6 (six) years after 1 year of completion of the course.
- The money paid will have to be credited as interest on the first money.
- A student taking a study abroad loan will be able to repay the loan even before the stipulated time limit.
How to Apply | Click Here |
Official Website | Click Here |