Educational Study Scheme offers financial support to students from the unreserved category in Gujarat by providing education loans for professional undergraduate and postgraduate courses at a low interest rate of 4% to help achieve career goals.
Educational Study Scheme - Introduction
Educational Study Scheme helps students pursue their dreams in professional fields like medicine, engineering, pharmacy, and more. This scheme, offered by the Social Justice and Empowerment Department, provides affordable education loans to cover tuition fees for various accredited undergraduate and postgraduate professional courses.
Students can benefit from this loan whether studying within Gujarat or attending select national institutions such as IIT, IIM, NID, NIFT, IRMA, or TISS. Managed by the Gujarat Unreserved Education and Economical Development Corporation, this initiative ensures that financial hurdles do not stand in the way. For example, if a student is pursuing an engineering degree, this scheme can help cover tuition expenses through a low-interest loan.
| Detail | Information |
|---|---|
| Scheme Name | Educational Study Scheme |
| Launched By | Social Justice and Empowerment Department, Gujarat |
| Level | State |
| Beneficiaries | Unreserved category students of Gujarat |
| Benefit Amount | Up to ₹10,00,000/- at 4% simple interest |
| Application Mode | Online at esamajkalyan.gujarat.gov.in |
| Official Website | esamajkalyan.gujarat.gov.in |
Benefits
Financial Assistance: A loan covering the total tuition fee of the course or up to ₹10,00,000/-, whichever is lower, is provided at a simple interest rate of 4% per annum.
Collateral Requirements:
| Loan Amount | Collateral Required |
|---|---|
| Up to ₹7,50,000/- | Charge of 1.5 times the loan amount on the applicant's or relative's property. |
| Above ₹7,50,000/- | Mortgage of immovable property equal to the total loan amount. |
Loan Repayment:
| Amount | Repayment Tenure |
|---|---|
| Up to ₹5,00,000/- | Equal monthly installments over 5 years starting 1 year after graduation. |
| Above ₹5,00,000/- | Equal monthly installments over 6 years starting 1 year after graduation. |
The repayment is credited toward interest first. Early repayment of the loan before the scheduled timeline is allowed without any extra charges.
Eligibility
To be eligible for this scheme, the following criteria must be met:
Required Conditions:
- The applicant must be a resident of Gujarat.
- The applicant must belong to the unreserved category.
- The applicant must have passed Standard 12 with at least 60% marks from a school within Gujarat.
- The total family income should be ₹6,00,000/- or less per annum.
Important Notes:
- Priority is given to widows and orphans during the loan sanctioning process.
- If the applicant drops out or fails to complete the degree on time, the entire loan amount must be repaid immediately, and the interest subsidy will be withdrawn.
Application Process
Online Application
Registration Steps:
STEP 1 - Visit the official website and find the Gujarat Unreserved Education and Economical Development Corporation section.
STEP 2 - Click on Training Assistance for Competitive Examinations and select Apply Now.
STEP 3 - Choose New User and complete the registration.
Application Steps:
STEP 1 - Login using User ID, Password, and Captcha.
STEP 2 - Read the scheme details and confirm the address.
STEP 3 - Upload the documents and submit the application.
STEP 4 - Save the Application Number for future reference and print the form.
Post-Application Procedure: After submitting the application online, print it, sign it, and submit the hard copy along with all supporting documents to the concerned Deputy Director (Non-Reserved Category) or the District Social Welfare Officer via courier, post, or by visiting in person.
Application status can be tracked here or queries can be sent to the department through the contact page.
Documents Required
The following documents should be kept ready for the application:
- School Leaving Certificate or Birth Certificate
- Aadhaar Card
- Ration Card
- Residence Proof
- Annual Family Income Certificate
- Non-Reserved Category Certificate
- IT Return
- Class 10th and 12th Marksheets or Diploma Certificate
- Proof of the period between graduation and application date, if applicable
References
FAQ's
What is the Educational Study Scheme?
Educational Study Scheme is a loan program providing financial aid to students for professional and technical courses at a 4% simple interest rate.
Who is eligible to apply for this scheme?
Students who passed Class 12 with at least 60% marks in Gujarat, belong to the unreserved category, have a family income of ₹6.00 lakhs or less, and have secured admission in an accredited professional course are eligible.
What is the maximum loan amount available under this scheme?
A loan covering the total tuition fee or up to ₹10,00,000/-, whichever is lower, is available.
Which courses are covered under this scheme?
The scheme covers professional courses like Medical, Dental, Engineering, Pharmacy, Architecture, Homeopathy, Veterinary, Physiotherapy, and Nursing. General degrees like BA or BCom are not included.
Can students studying outside Gujarat apply for this loan?
Yes, applications are accepted if admission is secured in national institutions like IIM, IIT, NID, NIFT, IRMA, or TISS.
What is the interest rate charged on the loan?
The loan is provided at a simple interest rate of 4% per annum.
When does the loan repayment start and what is the tenure?
Repayment starts one year after course completion. The tenure is 5 years for loans up to ₹5,00,000/- and 6 years for larger amounts.
Can I repay the loan before the scheduled time?
Yes, the loan can be repaid earlier than the scheduled time without any extra charges.
What happens if I drop out or fail to complete my degree?
The entire loan amount must be repaid immediately, and the interest subsidy will be withdrawn.
Are there any special provisions for widows and orphans?
Yes, widows and orphans receive priority consideration when the department sanctions loans.