Gujarat Govt Education Loan Abroad – GUEEDC Study Abroad Loan Documents, Eligibility

Gujarat Govt Education Loan Abroad: Here is a wonderful opportunity for Gujarat students who are willing to pursue their higher studies. The State Government of Gujarat offers different education loan schemes to pursue higher education in abroad countries. They can avail a maximum of 15 lakhs loan amount at a starting interest rate of 4%.

Keep reading to know other details about Gujarat Govt Education Loan Abroad schemes.

Foreign Studies Loan by Government of Gujarat

The Gujarat state government is interested in providing education loans to students to pursue higher studies in foreign countries. The long-term loan benefits cover tuition fees, food bills, interest subsidies and other expenses.

This education loan scheme aims to offer financial assistance to students from the banks to pursue Masters, MPhil, and Ph.D. courses abroad. These student education loan schemes provide 100% subsidy to economically backward students in Gujarat.

Highlights of Gujarat Study Abroad Loan Program

Features of Gujarat Government Abroad Student Loan

The main objective of the Gujarat State Government Education Loan Abroad is to provide all the educational needs of the students. The main features of the loan schemes are along the lines:

• Financial Support: The primary aim of the Gujarat Govt Study Abroad Loan is to offer financial help to students who want to pursue higher education from recognised universities in foreign or India. The scheme covers all the basic needs of students to complete their education.
• Access to Education: The scheme aims to promote equal access to education by offering loans to economically weaker students. It helps students who may not have sufficient amount to pursue higher education in abroad.
• Skill Development: The scheme focuses mainly on promoting skill development among students by supporting their professional/ technical courses. It encourages students to acquire the necessary skills and knowledge needed to get jobs in various sections, thereby enhancing their employability and contributing to the overall development of the Gujarat state.

• Encouraging Meritorious Students: GUEEDC Foreign Education Loan aims to recognize and support meritorious students who are good at academics. It offers the loan at lower interest rates to those who have secured admission from a reputed institution.

Key Benefits of Gujarat Govt Education Loan

The following are the benefits of foreign education loans by the Gujarat government.

• Moratorium Period: The Gujarat state government education loan scheme offers a moratorium period. After the period of moratorium is completed, the interest on the outstanding loan amount is paid by the students.
• Competitive Interest Rates: The schemes offer loans at highly competitive interest rates, making it affordable for students and families to finance their educational needs.
• Flexible Repayment Options: The loan repayment process is flexible. Students have a grace period after completing their education before they begin repaying the loan, allowing them to secure employment and settle into their careers.

Gujarat Govt Education Loan Abroad Eligibility Conditions

These are the eligibility conditions to avail of the Gujarat Government Study Abroad Loan for studying master’s, PhD and M.Phil courses.

• The student should be a permanent resident of Gujarat and have valid address proof.
• They must have completed class 12 with at least 60% marks from a Higher Secondary Examination Board of Gujarat or the Central Board.
• The family’s annual income should be less than INR 6 lakhs.
• The students must have taken admission from a recognised university or college abroad.
• Meritorious students of all social and economic backgrounds are eligible to apply.
• No collateral, guarantee or margin money is to be paid by the student under this scheme.

Needed Documents for GUEEDC Study Abroad Loan

The applicants are needed to submit these documents while applying for the Gujarat Govt Education Loan Abroad scheme.

• Education loan application form
• Birth certificate
• A passport-size photograph
• A copy of loan agreement
• Aadhaar card
• Visa/visa passed letter
• Residential proof (Passport/Driving license/Aadhaar card/Ration card/PAN card/Electricity bill/Voters ID card)
• Income proof for the family (income tax returns, property proof, etc.)
• Sanctioned letter authorized by bank (in KCG format)
• Bank passbook
• Copy of class 10 and 12 mark sheets
• A copy of college/university documents
• A copy of free receipts of institute/university
• Acceptance letter from a university abroad
• Self-declaration certificate for no other scheme benefits taken by the candidate (in KCG format)
• Interest Calculation Sheet

ROI for Gujarat Govt Education Loan For Abroad Studies

• The selected students will get a scholarship loan of INR 15,00,000 at 4% interest rate under the Gujarat Government Student Loan scheme.
• Under the subsidy scheme, the candidates can get a maximum of INR 10,00,000 as a loan. If the applicant has taken a loan amount amount exceeding this, the interest will only be charged on the 10 lakhs and the remaining amount should be paid by the applicant.
• The total interest on the education loan up to INR 10,00,000 will be deposited in the student’s bank loan account, as per the bank interest rate set by EBI.

Application Process For GUEEDC Study Abroad Education Loan

This is a simple process to apply for a Gujarat State Govt Student Loan.

• Go to the official portal of Gujarat Unreserved Educational & Economical Development Corporation.
• Fill in the required details and submit.
• Download the print of the application form/acknowledgement receipt.
• Send the application form along with the self-attested copies of the required documents either directly or by post to the address below.

Address:

Knowledge Consortium Of Gujarat (KCG)

Pragna Puram Campus,

Opposite PRL Between Govt. Girls Polytechnic and L.D College of Engineering, Navrangpura, Ahmedabad, Gujarat – 380015

FAQs on Gujarat Govt Education Loan Abroad

1. Which Bank is best for education loans abroad?

The best banks for abroad studies education loans are Axis Bank, NDFC Credila, SBI and so on.

2. Who is eligible for a Gujarat government education loan for studying abroad?

The students must have passed the 12th class with a minimum aggregate of 60% from the Higher Secondary Examination Board of Gujarat or the central board. And their family’s annual income should be less than INR 6 lakhs.

3. How can I get an education loan from the government in Gujarat?

Eligible students have to apply for the GUEEDC Foreign Education Loan and submit the needed documents.

4. What is the interest rate for Gujarat Government education loans?

The interest rate for Gujarat government education loans is 4%.

Conclusion

Expect that the data shared here regarding Gujarat Govt Education Loan Abroad is useful for the students. Get in contact with our site to know more related posts like NBFC Education Loan for Abroad Studies and Non-Collateral Education Loan for Abroad.

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