Gujarat approves Rs 2181 Cr foreign study loans for 15K students

Gandhinagar, Gujarat — Giving wings to the dreams of thousands of bright students from Gujarat, the state government’s ambitious Foreign Study Loan Scheme has emerged as a powerful tool for enabling higher education abroad. Under this initiative, 14,993 non-reserved category students have received loan approvals totaling ₹2,182.43 crore, offering them a chance to pursue their academic goals globally.

Launched in 2018 by the Gujarat Unreserved Educational and Economical Development Corporation (GUEEDC) under the Social Justice and Empowerment Department, this scheme is being actively implemented under the leadership of Chief Minister Bhupendra Patel and Minister Bhanuben Babariya.

The scheme is specifically targeted at students from non-reserved categories who often fall outside the purview of conventional welfare policies. It provides a loan of up to ₹15 lakh at just 4% simple annual interest for students pursuing higher education abroad for courses with a duration of at least one year or two semesters.

“This scheme is not just about financial aid; it’s about empowering the youth from underrepresented communities to achieve global excellence. We are committed to ensuring that no dream goes unfulfilled due to lack of funds,” said a senior official from the Social Justice and Empowerment Department.

To be eligible, students must have secured 60% or more marks in Class 12 or an equivalent recognized course. The annual family income limit is ₹6 lakh, and a maximum of two students from the same family can avail the benefit. The scheme covers all fields including diploma, graduate, postgraduate, and doctoral studies abroad.

The repayment structure is student-friendly. For loans up to ₹5 lakh, repayment begins one year after completion of studies, in equal monthly installments over five years. For loans exceeding ₹5 lakh, repayment tenure is extended to six years after the initial one-year grace period.

Several students have already leveraged this opportunity to pursue professional and academic excellence in countries like the US, UK, Canada, Australia, and Germany. The scheme is a crucial part of the government’s broader push to foster inclusive and equitable development.

“Many students have shared that this scheme was the turning point in their careers,” said the GUEEDC spokesperson. “It has made foreign education accessible to families who once thought it was beyond their reach.”