GUEEDC Education Loan

The objective of the Gujarat Unreserved Educational & Economic Development Corporation (GUEEDC) is to promote the overall development of the economically weaker sections of the unreserved community in the state of Gujarat. This includes providing support for education, economic development, and social development through various programs and initiatives.

Under this scheme, eligible students can avail of an education loan of up to Rs.15 lakhs at an interest rate of 4% per annum. The loan can be used for paying the tuition fees, hostel fees, and other academic expenses incurred during the course of study abroad.

Eligibility Criteria For GUEEDC Education Loan For Studies Abroad

• Must have completed 12th with an aggregate more than 60%
• Annual family income must be less than 6 Lakhs 
• Eligible courses: MBBS, Graduation, Post-graduation, PG diploma, or equivalent.
• Must belong to the unreserved category

Under this scheme, eligible students can avail of an education loan of up to Rs.10 lakhs at an interest rate of 4% per annum. The loan can be used for paying the tuition fees, hostel fees, and other academic expenses incurred during study in India.

Eligibility Criteria For GUEEDC Education Loan For Studies In India

• To be eligible for a loan for a course approved by the relevant council, the applicant must have achieved a score of at least 60% in their 12th-grade exams, regardless of which school in Gujarat they attended.
• The applicant must be a resident of Gujarat and must not belong to a reserved category.
• The applicant must provide proof of admission to the course for which they are seeking a loan.
• Applicants who are widows or orphans will be given priority.
• The maximum annual family income limit for state education loan programs is 6.00 lakh or less.

The application process for the GUEEDC education loan scheme, including the education loan for studies in India and studies abroad, can be completed online through the e-SamajKalyan Portal. This online portal is designed to provide a hassle-free and convenient application process for students belonging to economically weaker sections of the unreserved community.

Step 1: To begin the application process, the student must first create an account on the portal by providing their basic information, such as name, date of birth, email address, and mobile number.

Step 2: Once the account is created, the student can log in and access the application form. The application form requires the student to provide detailed information about themselves, their family, their education, and the course for which they are seeking a loan. 

Step 3: Once the student has completed the application form and uploaded all the necessary documents, they can submit their application online. The portal also allows the student to track the status of their application, view any updates or notifications, and communicate with the concerned authorities.

Step 4: After the application is submitted, it will be reviewed by the authorities, and the student will be notified of the loan decision. If the loan is approved, the student will be required to sign an agreement and provide additional documents, such as bank account details and collateral details, if applicable.

• Expert guidance - A financial officer from WeMakeScholars will analyse your profile and will suggest you the best possible options for an education loan.
• Minimal Processing time - We at WeMakeScholars maintain a standard timeline of 21 working days for public banks and 7 working days for private banks for a loan sanction. This is 50% lesser than when you go through banks directly.
• Negotiation support - Your financial officer from WeMakeScholars will negotiate with the lender on your behalf to get you the best education loan deal.
• End-to-end support - We provide students support even in the repayment phase to help them deal with issues such as a sudden increase in the ROI.
• Better Interest rates - As we are partnered with the banks they process your education loans at 0.5 to 2% lower rate of interest when you go through us.
• Free of cost services - We are supported by the IT Ministry under the Digital India Campaign and hence we provide all our services to the students free of cost.
• Digitized application process - The whole education loan process when you go through us is done online unless you are going for a collateralized loan. The online process also saves you from multiple visits to the bank for document submission.
• Tax benefits - We educate students regarding sections 80C and 80E for they to take full advantage of tax exemptions.
• Cashback offer - Students going through us get a cashback of ₹3,000.