Videsh Abhyas Loan Scheme
The Government provides financial assistance through various corporations and departments to talented and deserving students for higher education abroad. Under this scheme, students pursuing Diploma, Graduate, Postgraduate, Ph.D., and other higher education courses of one year or more (minimum two semesters) can receive educational loans.
Today, we will learn about the Videsh Abhyas Loan Scheme offered by the Gujarat Unreserved Educational and Economic Development Corporation.
Objective of the Videsh Abhyas Loan Scheme
The scheme aims to support talented and skilled students who wish to pursue higher studies abroad after clearing competitive examinations such as IIM, CEPT, JEE, NLU, etc.
The Gujarat Unreserved Educational and Economic Development Corporation provides foreign education loans to students who have scored 60% or more marks in Class 12.
Eligible students can receive loans up to ₹15 lakh at only 4% simple annual interest for higher studies abroad.
Loan repayment starts 12 months after completion of the course.
Eligibility Criteria
Students meeting the following conditions are eligible:
- Must have scored 60% or more marks in Class 12.
- Benefit available only to unreserved category students permanently residing in Gujarat for at least 15 years.
- 60% marks means actual percentage of total marks obtained, not percentile.
- Parents/guardians must mortgage property worth 1.5 times the loan amount as security.
- Annual family income should be below ₹6 lakh.
Loan Amount and Interest
- Maximum Loan Amount: ₹15 lakh
- Interest Rate: 4% simple annual interest
Required Documents
Applicants must submit the following documents:
- School Leaving Certificate
- Residence Proof
- Income Certificate
- Class 10 and 12 Mark Sheets / Diploma Certificate
- Unreserved Category Certificate
- Aadhaar Card and Ration Card
- Proof of study gap (if applicable)
- Clarification from College/University if the course type is unclear
- Graduation/Postgraduation mark sheets and degree certificates
- Parent’s Income Tax Return / Self-declaration
- Fee structure and proof of fee payment
- Property valuation certificate with property photographs
- Property title clearance certificate
- Admission letter from foreign university/college
- English translation of admission letter if not in English
- Consent letter for mortgaging property
- Joint guarantee document for loan repayment
- Copy of bank passbook or cancelled cheque
- Passport
- Disability medical certificate (if applicable)
- Air ticket and study visa
How to Apply Online
Applicants must apply online on the E Samaj Kalyan Portal within 6 months of going abroad for studies.
Official Portal:
E Samaj Kalyan Portal
Step-by-Step Online Application Process
Login – STEP 1
- Open Google and search for Gujarat Government portal or directly open:
E Samaj Kalyan Portal - Select the Gujarat Unreserved Educational and Economic Development Corporation option.
Registration – STEP 2
- First-time users must complete online registration.
- After registration, User ID and Password will be sent via SMS.
- Login using the provided credentials.
- Select “Videsh Abhyas Loan Scheme” from the scheme list.
Online Application – STEP 3
- Fill personal details:
- Name
- Address
- Mobile number
- Upload recent photograph
- Enter present and permanent address details.
- Fill:
- Unreserved category certificate details
- Annual income details
- Course details
- Enter property and bank account details.
- Upload required documents.
- Read and accept the declaration.
- Click “Save Application”.
- Confirm the application.
- After confirmation, an online application number will be generated.
- Save the application number for future reference and print the application if needed.
Process After Online Application
- After approval, applicants must upload additional required documents online and submit printed application with documents to the District Manager’s office within 30 days.
- Once all documents are verified, the loan amount will be transferred directly to the applicant’s bank account through DBT.
- Applicants must submit mortgage documents and five signed cheques in favor of the corporation.
Loan Repayment Process
For Loans up to ₹5 lakh
- Repayment starts 1 year after course completion.
- Loan must be repaid in equal monthly installments within 5 years.
For Loans above ₹5 lakh
- Repayment starts 1 year after course completion.
- Loan must be repaid in equal monthly installments within 6 years.
- Interest payments will be adjusted first.
- Borrowers may repay the loan before the scheduled time limit if desired.
