Foreign Study Loan Scheme (GUEEDC)
Loan scheme offering up to ₹15 lakh at 4% simple interest to unreserved category students for MBBS, PG, or equivalent courses abroad with flexible collateral and repayment conditions.
What you get
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
Who can apply
- 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.
Who cannot apply
How to apply
Online
- Visit the Official Website: https://gueedc.gujarat.gov.in1. Click on “Register” and fill in your basic details such as name, email, mobile number, and create a password.1. Login to Your Account.1. From the dashboard, select the “Foreign Study Loan” scheme .1. Fill the Online Application Form.
- Upload Required Documents.
- Submit the Application.
- Save or note down your unique application ID for future reference.1. Print the Application Form.
- Submit the signed hard copy and original documents for verification at the GUEEDC office or as directed.
Documents to carry
- 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
Details
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.