Gujarat Government’s Study Abroad Loan Program

Gujarat Government Education Loan Scheme – The Government of Gujarat has taken a remarkable initiative to introduce education loans for students to study abroad. It is a financial aid program for students from Gujarat who want to study in foreign land for their undergraduate, graduate, diploma, or professional degrees. The program provides a 100% subsidy to economically backward students in Gujarat, helping them achieve their dreams of pursuing higher education. These loans cover various expenses such as tuition fees, accommodation, travel, and other related costs.

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This article will highlight the important aspects of the Gujarat government education loan scheme.

State  Gujarat
Launched By Government of Gujarat 
Loan Provider Participating/Member Banks and Financial Institutions*
Maximum Loan Amount Guaranteed Up to INR 15,00,000 at 4% interest rate
Registration link 
Application Timeline Always Open

*Students can find the list of participating banks under the scheme towards the end of this article in the ‘Scheduled Bank List’ section.

Gujarat Government’s Study Abroad Loan Program: Objectives

The Gujarat State Education Loan Scheme aims to facilitate higher education opportunities, promote skill development, and empower students, ultimately contributing to the socio-economic growth of the state. The main objectives of the Gujarat government education loan scheme are:

  • Financial Support: The primary objective of the Gujarat State Education Loan Scheme is to provide financial assistance to students who wish to pursue higher education in recognized institutions abroad. The scheme aims to bridge the gap between the cost of education and the financial resources available to students, enabling them to pursue the courses of their choice without any financial constraints.
  • Access to Education: The scheme aims to promote equal access to education by providing loans to students from economically weaker sections of society. It helps students who may not have sufficient funds to pursue higher education by offering them affordable loans with favourable terms and conditions.
  • Skill Development: The scheme focuses on promoting skill development among students by supporting their pursuit of professional and technical courses. It encourages students to acquire the necessary skills and knowledge required for employment in various sectors, thereby enhancing their employability and contributing to the overall development of the state.
  • Encouraging Meritorious Students: The Gujarat State Education Loan Scheme aims to recognize and support meritorious students who have excelled academically. It provides education loans at such as lower interest rates for students who have secured admissions to reputed institutions or have achieved exceptional academic performance.

Gujarat Government’s Study Abroad Loan Program: Key Benefits

The following are the key benefits of foreign education loans by the Government of India:

  • Flexible Repayment Options: The loan repayment process is designed to be flexible, taking into account the financial circumstances of the borrowers. After completing their education, students have a period of time before they must start repaying their loans. This grace period allows them to find a job and get settled in their career.
  • Competitive Interest Rates: The education loan scheme offers loans at highly competitive interest rates, making it affordable for students and their families to finance their international education.
  • Moratorium Period: The Gujarat Government’s education loan scheme provides a moratorium period (i.e. course period plus one year). After the period of moratorium is over, students must pay the interest on the remaining/outstanding loan amount.
Gujarat Government’s Study Abroad Loan Program Details

Gujarat Government’s Study Abroad Loan Program: Eligibility Criteria 

To avail of the education loan scheme for studying abroad, students must meet certain eligibility criteria. These may include:

1. Domicile Requirements: The applicants must be permanent residents of Gujarat and hold valid proof of residence.

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2. Educational Criteria: The applicants must have passed Class 12 with 60% or more percentiles from Higher Secondary Examination Board of Gujarat or the Central Board.

3. Income Limit: The annual family income should be less than INR 6,00,000.

4. Admission Status Criteria: The candidates must have taken admission to a university/college abroad (Acceptance letter from a college/ university abroad).

Important Note:

  • Applicants who have taken the benefit of the Central Government/State Government education loan subsidy scheme or any other scholarship scheme are not eligible for this scheme.

5. Background/Category of Applicant: Meritorious students from all social and economic backgrounds are eligible to apply.

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6. Collateral Required: No collateral, guarantee or margin money is required to be paid by the students under this scheme

Gujarat Government’s Study Abroad Loan Program: Interest Rate

  • Candidates can avail of 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.

Gujarat Government’s Study Abroad Loan Program: Documents Required

The applicants are required to submit the following documents while applying for the Gujarat government education loan scheme:

  • Application form for the loan 
  • Birth certificate
  • A passport-size photograph
  • Copy of loan application form
  • Copy of loan agreement
  • Copy of Aadhaar card 
  • Copy of visa/visa passed 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 bank (in KCG format)
  • Copy of certified financial statements of financial statements duly certified by Magistrate or TDO
  • Copy of first page of bank passbook (from which the loan has been taken)
  • Copy of class 10 and 12 marksheets
  • Copy of college/university documents
  • Copy of free receipts of 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

Format for Required Documents:

Gujarat Government’s Study Abroad Loan Program: Scheduled Bank List  

Interested candidates can apply for a foreign education loan in any of the banks mentioned in the following list:

Bank Associated with Gujarat Loan Scheme

Gujarat Government’s Study Abroad Loan Program: Application Process

To apply for the loan scheme under the government of Gujarat, the applicants must follow the below steps:

Step 1: Visit the official website.

Step 2: Fill in the required details and submit.

Step 3: Download the print of the application form/acknowledgement receipt.

Step 4: 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

Gujarat Government’s Study Abroad Loan Program: Contact Details

If the applicants have questions or require support while filling out the application form or encounter any other problems, they can contact the helpline number – 990903938 or email at – between 10:30 AM to 6:00 PM (Note – Office will be closed on public holidays).

Gujarat Government’s Study Abroad Loan Program: FAQs

What are the eligibility criteria for the Gujarat Government's Study Abroad Loan Program?

To be eligible for the Gujarat Government's Study Abroad Loan Program, students must have obtained admission to a foreign university or college and fulfill the specified academic requirements.

What is the rate of interest for the study abroad loans offered by the Gujarat government?

The Gujarat government education loan scheme is offered at an interest rate of 4%.

What expenses does the study abroad loan cover?

The study abroad loan provided by the Gujarat Government covers various study-related expenses including tuition fees, equipment and books, travel expenses, living expenses, and other necessary costs associated with studying abroad.

What is the minimum percentage required to apply for an abroad education loan by the Indian government?

The minimum percentage required to apply for an education loan from Governmemt of India differs as per the eligibility criteria set under different schemes.

Do student loans pay for study abroad?

The university-mandated tuition charge is covered by student loans. Additionally, it covers the whole cost of the course as well as international economy-class airfare. The typical methods of paying for higher education overseas include loans, scholarships, and savings.


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