2182 Crore Sanctioned to Support Non-Reserved Students
Gujarat’s Social Justice and Empowerment Department has approved ₹2182.43 crore in educational loans under the Foreign Study Loan Scheme for 14,993 non-reserved category students. This scheme has been active since 2018, empowering students from underprivileged backgrounds to pursue higher education abroad.
Loan Details and Eligibility
Eligible students can avail loans of up to ₹15 lakh at a nominal 4% annual interest rate. The scheme covers students applying for foreign study programs lasting at least one year or two academic semesters.
To qualify, students must have scored a minimum of 60% in Class 12 or equivalent programs. Loans are offered for diploma, undergraduate, postgraduate, postgraduate diplomas, PhD, and other longer-term programs.
Eligibility Criteria at a Glance
- Student must belong to non-reserved category
- Minimum 60% marks in Class 12 or equivalent
- Annual family income should not exceed ₹6 lakh
- Maximum two students per family can avail the benefit
Repayment Terms
Loan Amount ≤ ₹5 lakh: Repayment starts 1 year after course completion in 5 equal annual instalments.
Loan Amount > ₹5 lakh: Repayment starts 1 year after course completion in 6 equal annual instalments.
This initiative ensures that financial limitations do not obstruct bright students from gaining global academic exposure. The program is implemented through the Gujarat Non-Reserved Educational and Economic Development Corporation.
Empowering the Future
Led by the vision of Chief Minister Shri Bhupendra Patel and guidance of Social Justice and Empowerment Minister Smt. Bhanuben Babariya, the scheme is part of Gujarat’s mission to extend equitable educational access to all sections of society.
Stay tuned to gpsc-ojas.com/news for more updates on Gujarat’s youth-centric educational policies and scholarship schemes.
