ESSG

The "Educational Study Scheme" provides financial assistance in the form of loans for self-supporting graduate-level courses in professional fields such as Medical, Dental, Engineering, Technology, Pharmacy, Architecture, Nursing, Homeopathy, Veterinary, and similar disciplines.

The "Educational Study Scheme" introduced by the Social Justice and Empowerment Department, Gujarat, aims to support students pursuing undergraduate and postgraduate professional courses by providing affordable education loans. The loan is available for courses accredited by the relevant councils and is applicable for students studying within Gujarat as well as in other states/UTs for select higher education institutions like IIM, IIT, NID, NIFT, IRMA, and TISS. The scheme is being implemented by the Gujarat Unreserved Education and Economical Development Corporation.

• The applicant must be from Gujarat
• The applicant must belong to the unreserved category.
• The applicant must have passed Standard 12 with 60% or more from any school in the state of Gujarat.
• The annual family income limit for state educational loan schemes will remain at ₹6,00,000/- or less.

Note:

• Priority is given to widows and orphans when sanctioning loans under this scheme.
• The loans of those who drop out mid-studies or fail to obtain a degree within the stipulated time frame will be subject to recovery at once and interest subsidy will not be available.

Financial Assistance: A loan of the total tuition fee of the entire course or ₹10,00,000/-, whichever is less, will be provided by the Corporation at a simple interest of 4%.

Collateral:

• For loans of total loan amount of ₹7,50,000/- or less for the entire course, a charge of one and a half times the loan amount will have to be registered on the beneficiary's own or relative's property.
• If the total loan amount for the entire course is more than ₹7,50,000/-, the immovable property of oneself or any other relative equal to that total amount will have to be mortgaged in favor of the Corporation.

Loan repayment:

• In case of total loan up to ₹5,00,000/-, the loan amount along with interest will have to be repaid in equal monthly installments over 5 (five) years, 1 year after completion of studies.
• In case of loan of more than ₹5,00,000/-, the loan amount along with interest will have to be repaid in equal monthly installments over 6 (six) years, starting 1 year after completion of studies.
• The loan amount being repaid will be credited first as interest.
• The borrower can repay the loan even before the specified time limit.