Gujarat Government Study Abroad Loan Program 2023 Apply Online 

The government of Gujarat has created a new scheme that will help students to get educational loans in order to successfully take admission in countries which are outside India. Students will be able to get master’s or PhD degrees in foreign countries through the development of the Gujarat government study abroad loan program 2023. The students who are willing to get an education in foreign countries are eligible to apply for the hundred percent subsidy scheme which will offer financial capabilities to the people coming from the economically backward section of society. Students will be able to apply for this prestigious scheme created by the Gujarat government and they will be able to continue their education abroad. 

Objective Of The Scheme

The main objective of the Gujarat government study abroad loan program created by the Gujarat government is to help students who want to pursue education in foreign institutes but are not able to proceed with admission because of the high admission fees. Students will be able to get financial assistance and they will be able to pursue higher education in recognized institutes within India or abroad. The students will be able to easily pay the application fees and also the tuition fees that are applicable to them if they are taking admission to a foreign country and they are permanent residents of Gujarat state. Students will be provided access to education from abroad and they will be able to continue their education without any problem or difficulty. Students will be able to lift the burden of financial help from their families.

Also Read: Digital Gujarat Scholarship

Benefits Of The Scheme

• The scheme also focuses on promoting skill development opportunities among the students so that they can pursue professional courses.
• The students will be motivated through the development of this prestigious scheme and they will be able to continue higher education.
• The students will provide flexible repayment options for the loans that the students have taken under the scheme and the students will not be forced to repay their loan in less time.
• The students will be provided competitive interest rates so that the loans are provided at an affordable rate to all of the students and they do not have a burden of an educational loan.
• The moratorium period will be of more than one year and the loan can be paid according to the comfort level of the students.

Eligibility Criteria

• The applicant must be a permanent resident of Gujarat state.
• The applicant must have completed class 12th education with more than 60% marks from a recognized Institute.
• The annual income of the family must be less than Rs 6 lakh.
• The applicant must have taken admission to a university or college situated abroad and the acceptance letter must be received by the applicant.
• The applicant must belong to the economically backward section of the society. 

Documents Required

• Application form for the loan 
• Birth certificate
• A passport-size photograph
• A copy of the loan application form
• A copy of the loan agreement
• A copy of the Aadhaar card 
• A copy of the visa/visa passed the letter
• Residential proof (Passport/Driving license/Aadhaar card/Ration card/PAN card/Electricity bill/Voters Id card)
• Income proof for the family (income tax returns, property proof, etc.)
• Sanctioned letter authorized by a bank (in KCG format)
• Copy of certified financial statements of financial statements duly certified by Magistrate or TDO
• A copy of the first page of the bank passbook (from which the loan has been taken)
• Copy of class 10 and 12 mark sheets
• A copy of college/university documents
• A copy of free receipts of the institute/university
• Acceptance letter from a university abroad 
• Self-declaration certificate for no other scheme benefits taken by the candidate (in KCG format)
• Interest Calculation Sheet

Interest Rates

• The selected candidates will receive a scholarship loan of INR 15,00,000 at a 4% interest rate under the Gujarat government education loan scheme. 
• Under the subsidy scheme, applicants can receive a maximum of INR 10,00,000 as a loan. If the applicant has taken a loan amount exceeding this, interest will only be charged on the INR 10,00,000 and the remaining amount will be paid by the applicant. 
• The total interest on the education loan up to INR 10,00,000 will be deposited in the applicant’s bank loan account, according to the bank interest rate set by RBI. No other charges will be applicable.

Contact Details

• 990903938 
• Email- isel.kcg@gmail.com between 10:30 am to 6:00 pm

Also Check: Gujarat Digital Seva Setu Yojana

Gujarat Government Study Abroad Loan Program Application Process

• You will first have to visit the Gujarat Government website of the scheme by clicking on the link given here 

• The home page will open on your screen 
• A lot of information will open on your screen 
• You have to click on the option called Online Registration Form for Interest Subsidy Scheme on Education Loan

• The application form will open on your screen and you have to fill out all of the important details.
• Click on the register button to register yourself.
• Download the print of the application form/acknowledgment receipt.
• Send the application form along with the self-attested copies of the required documents either directly or by post to the below-mentioned address:
  • Knowledge Consortium Of Gujarat (KCG)
  • Pragna Puram Campus, 
  • Opposite PRL Between Govt. Girls Polytechnic and L.D College of Engineering, Navrangpura, Ahmedabad, Gujarat – 380015

Scheduled Bank List  

• You will first have to visit the official website of the scheme by clicking on the link given here 
• The home page will open on your screen 
• A lot of information will open on your screen 
• You have to click on the option called Scheduled Bank List

• The list of banks will open on your screen and you can check the list accordingly.

Renewal Application

• You will first have to visit the official website of the scheme by clicking on the link given here 
• The home page will open on your screen 
• A lot of information will open on your screen 
• You have to click on the option called First Renewal of Interest Subsidy Scheme

• The PDF of their renewal will open on your screen and you can check the renewal application accordingly.

List of Approved & Reject Applications

• You will first have to visit the official website of the scheme by clicking on the link given here 
• The home page will open on your screen 
• A lot of information will open on your screen 
• You have to click on the option called List of Approved & Reject Applications

• The list will open on your screen according to the different years and now you can check the list according to your specified year.

Gujarat Government Study Abroad Loan Program 2023 FAQs