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Education & Learning; Social welfare & Empowerment

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.

Authority

State/ UT

Region

Gujarat

Status

Verified 2026

Updated

March 2026

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.**

Required Paperwork

  • Aadhaar Card
  • PAN Card
  • Income Certificate
  • Residence Proof (Domicile)

Common Questions

Who is eligible for this loan?

Students from unreserved category with 60%+ in Class 12 and annual income ≤ ₹6 lakh.

What courses are covered under this scheme?

MBBS, Master's degrees, PG diplomas, or equivalent programs abroad.

What is the maximum loan amount available?

₹15 lakh.

What is the rate of interest?

Simple interest at 4% per annum.

Is there any collateral required?

Yes. Property must be mortgaged—1.5× value for loans ≤ ₹7.5 lakh, 1× for higher amounts.

When does the repayment start?

One year after course completion.

How long is the repayment period?

5 years for loans ≤ ₹5 lakh, and 6 years for loans > ₹5 lakh.

Can I repay the loan early?

Yes, prepayment is allowed without penalty.

Do I need to submit post-dated cheques?

Yes, five post-dated cheques in favor of the Corporation.

Where do I apply?

Visit the Official Website: https://gueedc.gujarat.gov.in