Gandhinagar, September 22 (Daily Kiran) : Students from middle-class families in Gujarat now have a more accessible path to pursue higher education abroad, thanks to a recent policy change. Under the leadership of Chief Minister Bhupendra Patel, the Gujarat government has raised the annual income limit for families applying for foreign study loans to ₹10 lakh, up from the previous limit of ₹6 lakh.
This scheme allows students from the unreserved category who have completed their 12th grade to avail study loans of up to ₹15 lakh for education overseas. The increase in the income limit means that a greater number of families can now benefit from this initiative.
One beneficiary, Praveen Bhai, shared that his son is currently studying for a master’s degree in Brisbane, Australia. With one year of studies completed and another remaining, the family received ₹15 lakh in loan assistance under this program. They are committed to repaying the loan in regular installments.
Moulik Rawal, director of Aspire Square Private Limited, noted that the application process for students wishing to take advantage of this scheme is relatively straightforward. Students need to submit the required documents before applying for the loan.
According to A.K. Joshi, managing director of the Gujarat Unreserved Educational and Economic Development Corporation, this scheme was launched in the 2018-19 fiscal year. Since then, over 16,607 students have benefited from it.
To date, the Gujarat government has disbursed approximately ₹2,450 crore in loan assistance for studying abroad. The increase in the income limit aims to extend the program’s benefits to a larger pool of aspiring students. This financial aid could significantly alleviate the costs associated with higher education for those planning to study in countries like the UK, Australia, Canada, and the USA. With the new income limit in place, the number of potential beneficiaries is expected to rise.
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