6% Interest Subsidy on Loans taken through Banks for Study Abroad
The scheme aims to reduce financial stress for ST students pursuing foreign education by providing up to ₹1,50,000 subsidy on interest for 3 years.
About This Scheme
The “6% Interest Subsidy on Loans taken through Banks for Study Abroad” scheme was launched by the Tribal Development Department, Government of Gujarat. The scheme aims to support Scheduled Tribe (ST) students pursuing higher education abroad by reducing their financial burden. Under this scheme, beneficiaries receive an interest subsidy on education loans with a maximum subsidy for three years.
Benefits
Interest subsidy of 6% per annum on loans taken through banks for foreign education.
Maximum subsidy of ₹1,50,000 for 3 years.
Applicable on loans up to ₹25,00,000.
Eligibility Criteria
The applicant must be a resident of Gujarat’s tribal areas.
The applicant must belong to the Scheduled Tribe category.
The applicant must have passed Higher Secondary Certificate (HSC) or equivalent examination.
The applicant must have secured admission in a recognized foreign university for higher studies.
Application Process
Apply Offline
Step 1: The interested applicant should visit (during office hours) at the office of the Project Administrator, Gujarat Tribal Development Corporation, Gandhinagar, and all tribal district offices and request a hard copy of the prescribed format of the application form from the staff exclusively entrusted to issue and collect filled-in applications.
Step 2: In the application form, fill in all the mandatory fields, and attach copies of all the mandatory documents (self-attestted, if required).
Step 3: Submit the duly filled and signed application form along with the documents to the office of the Tribal District Sponsorship Administrator.
Step 4: Request a receipt or acknowledgment from the office of the Tribal District Sponsorship Administrator. to whom the application has been submitted. Ensure that the receipt contains essential details such as the date and time of submission, and a unique identification number (if applicable).
Official Source: View on myScheme.gov.in
Benefits
Interest subsidy of 6% per annum on loans taken through banks for foreign education.
Maximum subsidy of ₹1,50,000 for 3 years.
Applicable on loans up to ₹25,00,000.
Application Process
Apply Offline
Step 1: The interested applicant should visit (during office hours) at the office of the Project Administrator, Gujarat Tribal Development Corporation, Gandhinagar, and all tribal district offices and request a hard copy of the prescribed format of the application form from the staff exclusively entrusted to issue and collect filled-in applications.
Step 2: In the application form, fill in all the mandatory fields, and attach copies of all the mandatory documents (self-attestted, if required).
Step 3: Submit the duly filled and signed application form along with the documents to the office of the Tribal District Sponsorship Administrator.
Step 4: Request a receipt or acknowledgment from the office of the Tribal District Sponsorship Administrator. to whom the application has been submitted. Ensure that the receipt contains essential details such as the date and time of submission, and a unique identification number (if applicable).
References & Official Links
Scheme Details
| Full Name | 6% Interest Subsidy on Loans taken through Banks for Study Abroad |
| Short Title | 6ISLBSA |
| Level | State |
| Scheme For | Individual |
| Categories | Banking,Financial Services and Insurance, Education & Learning |
| States | Gujarat |
| Gender | All |
| Caste/Category | ST |
| Area | Both |
| Source | myScheme.gov.in ↗ |