Gujarat expands study abroad loan scheme; income limit raised to ₹10 lakh

Gujarat: Major relief for middle-class families: More unreserved category students to benefit from the 'Loan for Study Abroad scheme'

Gandhinagar, August 19

According to the release, under the 'Loan for Study Abroad Scheme' implemented through the Gujarat Unreserved Educational and Economic Development Corporation, the annual family income limit has been increased from ₹6 lakh to ₹10 lakh.

The Department, under the leadership of Minister of Social Justice and Empowerment Pradyuman Vaja and Minister of State Manisha Vakil, has taken this decision to benefit more students. Students who could not earlier avail the scheme due to the income limit will now be eligible for loan assistance to pursue higher education abroad.

For students seeking higher education abroad, an education loan provides financial support for expenses such as tuition fees, accommodation and living costs. Earlier, the annual family income limit under the 'Loan for Study Abroad Scheme' was ₹6 lakh.

The State Government has now increased this limit by ₹4 lakh to ₹10 lakh. As a result, eligible unreserved category students with an annual family income of up to ₹10 lakh will now be able to avail the benefits of the scheme, as per the release.

The State Government says the main objective of this decision is to ensure that meritorious students from middle-income families do not miss the opportunity to pursue higher education abroad due to the income limit. Studying at reputed foreign universities gives students exposure to globally recognised education systems, advanced technology, research and international experience.

This, the state government says can help them build successful careers and, after completing their education, contribute to the development of Gujarat and the country. The increase in the income limit is therefore a key step towards creating greater opportunities for more students and enabling more youth to access global education.

— ANI