Foreign Study Loan Scheme (GUEEDC)

Description
The scheme provides financial loan assistance to students from the unreserved category to pursue higher education abroad. Loans up to ₹15 lakh are granted at simple interest of 4% per annum , with flexible repayment options. Security and repayment conditions depend on the loan amount. This scheme aims to support meritorious, economically weaker students for global education opportunities.

Exclusions
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Benefits
• Loan Amount: Up to ₹15.00 lakh
• Interest Rate: Simple interest at 4% per annum
• Collateral:
• Up to ₹7.50 lakh: Property valued at 1.5 times the loan amount
• Above ₹7.50 lakh: Property equal to the loan amount
• Loan Repayment:
• Up to ₹5 lakh: repay in 5 years after 1-year moratorium
• Above ₹5 lakh: repay in 6 years after 1-year moratorium
• Borrower can pre-pay without penalty

Eligibility Criteria
1. The applicant must be a **citizen of India** and a **resident of Gujarat.**1. The applicant must belong to the **Unreserved category**.1. The applicant must have passed **Class 12 with 60% or more marks**.1. The applicant must be seeking admission to **MBBS, Master’s, PG Diploma, or equivalent programs abroad.**1. The applicant’s annual family income must be **₹6.00 lakh or less.**

Application Process
Step 1: Visit the Official Website: https://gueedc.gujarat.gov.in
Click on “Register” and fill in your basic details such as name, email, mobile number, and create a password.
Login to Your Account.
From the dashboard, select the “Foreign Study Loan” sche…
Online

Visit the Official Website: https://gueedc.gujarat.gov.in
Click on “Register” and fill in your basic details such as name, email, mobile number, and create a password.
Login to Your Account.
From the dashboard, select the “Foreign Study Loan” scheme .
Fill the Online Application Form.
Upload Required Documents.
Submit the Application.
Save or note down your unique application ID for future reference.
Print the Application Form.
Submit the signed hard copy and original documents for verification at the GUEEDC office or as directed.

Required Documents
• Class 12 Marksheet (60% or above)
• Unreserved category proof
• Income certificate (₹6 lakh or less)
• Admission letter to foreign university
• Collateral documents (immovable property details):
• For up to ₹7.5 lakh: property worth 1.5 times of loan amount
• Above ₹7.5 lakh: property worth 100% of loan amount
• Post-dated cheques (5 nos.) in favor of Corporation
• Identity proof (Aadhaar/Voter ID/Passport)
• Passport copy and visa (once issued)
• Bank passbook or cancelled cheque

Frequently Asked Questions
Q: Who is eligible for this loan?
A: Students from unreserved category with **60%+ in Class 12** and **annual income ≤ ₹6 lakh.**

Q: What courses are covered under this scheme?
A: MBBS, Master&#39;s degrees, PG diplomas, or equivalent programs abroad.

Q: What is the maximum loan amount available?
A: ₹15 lakh.

Q: What is the rate of interest?
A: Simple interest at **4%** per annum.

Q: Is there any collateral required?
A: **Yes.** Property must be mortgaged—1.5× value for loans ≤ ₹7.5 lakh, 1× for higher amounts.

Q: When does the repayment start?
A: One year after course completion.

Q: How long is the repayment period?
A: **5 years** for loans ≤ ₹5 lakh, and **6 years** for loans &gt; ₹5 lakh.

Q: Can I repay the loan early?
A: **Yes,** prepayment is allowed without penalty.

Q: Do I need to submit post-dated cheques?
A: **Yes,** five post-dated cheques in favor of the Corporation.

Q: Where do I apply?
A: **Visit the Official Website:** [**https://gueedc.gujarat.gov.in**](https://gueedc.gujarat.gov.in)