The Gujarat-Loan for Study Abroad (SEBC) as it is known is a scheme that the Gujarat government has instituted to assist students from the Socially and Economically Backward Classes to study abroad. Get detailed information regarding its salient characteristics, requirements for the borrower, steps for applying for this form of credit and advantages of this loan scheme.
Introduction
Thinking about traveling overseas, aspiring for academic success on the international level? If you are a Socially and Economically Backward Class (SEBC) students of Gujarat then there is an exclusive scholarship waiting for you – Gujarat-Loan for Study Abroad. This is a subsidy program supported by this government that assist you to finance your academic goals and enhance your learning and development.
The Gujarat government has make a commendable move to start sponsoring education loan for students belonging to the SEBC category who are interested to join foreign universities. This scholarship scheme will enable students from the Gujarat fulfil their passion of studying at foreign universities and colleges. The Gujarat-Loan for Study Abroad(SEBC) encloses travels charge, accommodations, tuition fees among other expenditures hence the students get to seek quality education easily.
Understanding the Gujarat-Loan for Study Abroad (SEBC)
The Gujarat-Loan for Study Abroad or popularly known as SEBC is a financial assistance given to those students belonging to the Gujarat region only who are from the underprivileged section of society. Intending to provide cheap credit facilities, the scheme’s primary objective is to tackle the financial conditions so as to make the students to embark on studies abroad.
Key Features of the Gujarat-Loan for Study Abroad (SEBC)
- Maximum Loan Amount: A sum of up to INR 15,00,000 with an interest being 4% per annum
- Eligibility: The students of SEBC who have got admitted to a foreign university or college
- Expenses Covered: Acquisition of knowledge, books, food, transport, shelters, and other incidental charges
- Interest Rate: 4%
- Moratorium Period: Course duration + 12000WK
Benefits of the Gujarat-Loan for Study Abroad (SEBC)
- Financial Assistance: The scheme offers you important funding to assist you make ends meet so that you can finance your education overseas.
- Global Exposure: It is a way of learning that can expand your periphery as well experience the world in a different perspective.
- Career Opportunities: A foreign degree helps you in your job hunt and provide you with new opportunities to look forward to.
- Personal Growth: Travelling to another country for education helps in growth, culture and experiencing life on one’s own.
Eligibility Criteria
To be eligible for the Gujarat-Loan for Study Abroad (SEBC), you must meet the following criteria:
- SEBC Category: Only SEBC category as defined by the Gujarat government with regard to socially and economically backward class certificates.
- Permanent Resident: Finally, for the purpose of this papers analysis, one must be a permanent resident of the Gujarat state.
- Academic Merit: You must have had an admission to an accredited foreign university or college as a student.
- Income Limit: There Is certain restrictions on the income level of the family in which they are to be placed, as determined by the government.
Application Process
To apply for the Gujarat-Loan for Study Abroad (SEBC), you will need to submit the following documents::
- Visit the Official Website: First of all, refer to the official website of the Gujarat government focused on the loan scheme.
- Fill in Required Details: The entire process is to fill an online application form with the need personal, academic, and financial information.
- Download the Application Form: On the completion of the application form, a person may download and print a copy of the application form, and the acknowledgment receipt.
- Prepare Required Documents:
- Submit the Application: Append all the screened documents and self-attested photocopies of the documents required to be attached along with the Application Form on the same to:
Knowledge Consortium of Gujarat
Pragna Puram Campus,
Opposite PRL Between Govt. Girls Polytechnic and L. D College of Engineering,
Ahmedabad, are two of the oldest institutes for technical education in India.
The Navrangpura campus of Cornaglia Group of Institutions is located in Ahmadabad, Gujarat, India, with the postal code of 380015.
- Contact for Assistance: For any further clarification or during the completion of the Application or Registration or Admission process you can contact the helpline number 990903938 or E-mail ISel. kcg@gmail. Have a chat at www.lsi com between 10:30 AM and 6:00 PM.
- By following these steps, you will avoid any mistakes and stress while applying for the Gujarat-Loan for Study Abra(formerly known as SEBC).
Required Documents
To apply for the Gujarat-Loan for Study Abroad (SEBC), students need to submit the following documents:
- Application form for the loan
- Birth certificate
- A passport-size photograph
- Copy of loan application form
- Copy of acceptance letter from a college/university abroad
- Proof of Gujarat domicile
- Mark sheets of Class 10 and 12
- Income certificate of the family
- Caste certificate (for EBC and SEBC students)
- Proof of admission to a foreign university/college
Participating Banks
The SEBC can be availed by the students of Gujarat by applying for the Gujarat-Loan for Study Abroad through any of the banks enlisted on the official website. The list comprises of most of the public and private sector banks in order to cover as many student as possible.
Loan Amount and Interest Rates Almost all the loan advertising commonly covered the loan amount or available funds and interest rates that came with the loan.
The maximum loan amount that may be availed by individuals under the Gujarat-Loan for Study Abroad (SEBC) scheme may differ according to the duration of the course, the living expense in the country of study and so on. The rate of interest charged on the loan is usually low and may be cleared at a lower or concessionary rate for the deserving students.
Repayment Terms
The term used in repaying the loan offers some flexibility where there is a grace period after which one is expected to repay the loan; this convenience comes in handy to allow one to first complete his/her learning and look for a job. Of course, the specifics of when and how the loan is to be repaid, as well as the number and amount of the monthly payments, and the interest rate are all spelled out in the contract.
FAQs
Q: What is the Loan limit sanctioned in Gujarat-Loan for Study Abroad (SEBC) scheme?
A: The max amount of the loan can be different and depends on the length of the course, cost of living, etc, and eligibility.
Q: What is the rate that the loan attracts?
A: Similar to the interest rate on other types of loan; it is comparatively reasonable and can be as low as concessionary rate for those qualified as a student.
Q: How long do you’ll take to repay the loan, this is the repayment schedule of the loan.
A: Repaying can be done after grace period which depends on the loan amount and various other factors and the repayment period usually starts soon after this period only.
Q: Can I apply for the loan if am not a SEBC category?
A: No the scheme is meant only for the student belonging to the Socially and Economically Backward Class (SEBC) category.
Q: What materials should I enclose with my application?
A: Lastly, the following documents will be required: admission letter, income proof, identity proof, residency proof and any other document that may be deemed necessary.
Conclusion
This paper focuses on the Gujarat-Loan for Study Abroad (SEBC) as a chance for the students from the low sociodemographic status in Gujarat to continue the education further. Being a financial aid to the students, the scheme enables students to fulfill their dreams of attaining education and yield positive results on their overall personality. For any SEBC student who probably wants to pursue a foreign degree, the Gujarat-Loan for Study Abroad scheme is worth considering.
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