Videsh Abhyas Loan Sahay Online Form Gujarat | Loans to Students to Study Abroad | Samaj Kalyan Yojana | Foreign Education Load Scheme |
Gujarat Non-Reserved Educational and Economic Development Corporation (GUEEDC) works to understand the plight of non-reserved classes. Recommends to the Government for a solution by understanding the problems of non-reserved classes. After studying various schemes related to social welfare, Bin-Anamat prepares recommendations of welfare schemes for classes. Various welfare schemes are run by the Non-Reserved Class Commission such as Educational Study Scheme Loan, Meal Bill Assistance, Coaching Assistance (Tuition Assistance), JEE, GUJCET, Coaching Assistance for NEET Examination, Training Assistance for Competitive Examination and Foreign Study Loan, etc.
Purpose of Foreign Study Loan
Clean students of non-reserved caste in the state can get good and higher education abroad and the study is implemented by the Government of Gujarat to help the economic situation. “Unreserved Loan” is given by Gujarat Unreserved Educational & Economic Development Corporation.
Eligibility of Foreign Study Loan
- For MBBS after Std-12, Bachelors (valid even if the degree is obtained after Diploma)
- For Master’s Course as well as Post Graduation Diploma or similar course
- Loans up to a total of Rs 15 lakh are available for higher studies abroad for any type of research such as technical, paramedical, professional, etc.
- Those who have 60℅ or more in Std-12 get the benefit of this scheme.
- If that the annual income of to the family is less than Rs. 600000 (six lakhs), it is eligible.
How Much to Get a Study Abroad Loan
Under the Loan For Foreign Study scheme, a total of Rs 15 lakh is available for higher studies abroad at 4% simple interest.
Documents for taking a study abroad study
Bin anamat aayog sets the policy for students to take loans for study abroad. The documents prescribed for taking a loan of a non-reserve scheme are as follows.
- Fixed sample application form
- Certificate of non-reserved class
- Copy of Aadhaar card
- Certificate of income
- Admission letter
- Copy of mark sheet of standard 12 and above studies
- Marksheet of standard 10 and 12
- School Leaving Example (LC)
- Copy of passport
- Visa Copy
- Air Ticket
- Proof of Fees to be paid / paid every year
- Copy of the first page of the applicant’s bank passbook
- Mortgage / burden note and 5 bank checks
- Consent letter for property mortgage as per appendix-3
- Approval of the guarantor and property valuation report and grounds of property as per Appendix-1.
Documents / Bail for Bin-Anamat Loan
- For a loan of Rs. 7.50 lakh or less for the entire course, the applicant student will have to incur a burden on his or her relative’s property for one and a half times the loan amount.
- Each borrower will have to give 5 (five) post dated checks signed in favor of the corporation (for the corporation).
- The total loan amount for the full course is Rs. If it is more than Rs 7.50 lakh, the total amount will have to be mortgaged in favor of one’s own or any other relative’s real estate corporation.
Where to apply for a study abroad loan
To take a foreign study loan operating as a non-reserve loan, the applicant student has to go to the following website and fill the online form before going abroad. After filling up the online form, the required documents have to be uploaded to the website.
Foreign study loan repayment
- Total loan up to Rs. 5.00 lakhs will have to be paid in 5 (five) years in one year after completion of the course.
- In case of loan above Rs. 5.00 lakhs, it has to be repaid in equal monthly installments in 6 (six) years after 1 year of completion of the course.
- The money paid will have to be credited as interest on the first money.
- A student taking a study abroad loan will be able to repay the loan even before the stipulated time limit.