Gujarat loan for study abroad: Annual family income limit of unreserved students increased to Rs 10 lakh

The Gujarat government has raised the income limit for unreserved category students applying for a loan to study abroad from Rs 6 lakh to Rs 10 lakh, according to a government statement released on Wednesday. The 'Loan for Study Abroad Scheme' is run by the Social Justice and Empowerment Department of Gujarat through the Gujarat Unreserved Educational and Economic Development Corporation (GUEEDC).

The program offers study loans up to Rs 15,00,000 for certain courses, such as bachelor of medicine, bachelor of surgery, post-graduation courses (including post-graduation diplomas after a diploma), and other courses after Class XII. To be eligible, students must have scored more than 60 percent in their Class XII exams. The loan comes with simple interest at 4 percent per annum, and repayment terms depend on the loan amount.

This move will allow more eligible unreserved category students with an annual family income of up to Rs 10 lakh to benefit from the scheme. The increased income limit aims to ensure that meritorious students from middle-income families have the opportunity to pursue higher education abroad, without being restricted by income levels.

Studying at renowned foreign universities offers students exposure to globally recognized education systems, advanced technology, research, and international experience. This exposure can equip them with the skills needed for successful careers, enabling them to contribute to the development of Gujarat and the country after completing their education.

The government views the income limit increase as a significant step toward providing greater opportunities for more students to access global education.