West Indian states like Gujarat is famous for their links to foreign roots. Hence, a large number of students from Gujarat state immigrate to study abroad because of this reason, unlike other states of India. As per the fact of the ministry of external affairs, an average number of 48000 students have chosen to go abroad for their higher studies in the past year using different Types of Study VISA, sounds great ? Do you know, there is an available scheme for education loans for study abroad by Gujarat government?
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What is education loan by Gujarat government?
- Gujarat Government Education Loan is a scheme by the state government of Gujarat to promote higher education overseas.
- First, let’s check how many students study abroad from Gujarat. In 2019, 3000+ students applied for Primary Australian Student Visa. Countries like USA, UK, and Canada also receive a huge number of applications for student visas from the student of Gujarat.
- In fact, with this education loan students can get up to INR 15 lakhs with a interest rate of 4%.t
- This education loan offers 100% subsidy to economically backward students with academic Gujarat merit.
- In addition, this education loan allows students to pursue a variety of courses which include, undergraduate, postgraduate, professional courses, and even certification courses.
- Although, the moratorium period of the education loan is during the course and another year after the course completion.
Now, what is the criteria for this education loan?
- The student must be a resident of the state Gujarat.
- The annual income of the student’s family must be less than INR 6 lahks.
- Students can only get an education loan by the Gujarat government when they have received their confirmation letter from any foreign educational institute or University.
- The subsidy for this loan is only offered when the loan amount is more than INR 10 lakhs.
In concussion, if you are from Gujarat and wish to pursue your studies abroad. We would say that you are blessed. Try matching the criteria and live your dream.
Interesting Read: 10 Things to know before studying Abroad!
