Gandhinagar: Over the past five years, the number of general category students availing state govt loans to study abroad has risen by 168%, while the total loan amount disbursed under the scheme has seen a 173% surge.

The Gujarat Unreserved Educational and Economical Development Corporation (GUEEDC), established to assist students from unreserved categories, has so far disbursed loans worth Rs 2,182 crore to 14,993 students pursuing higher education abroad. The loans are provided at a simple interest rate of 4%, with each student eligible for up to Rs 15 lakh.

When the ‘Overseas Study Loan Scheme‘ was introduced in 2018-19, only 223 students benefitted. In 2024-25, this number increased to 3,950, and in the current financial year (2025-26), 387 students have already received loan approvals as of July 7, according to GUEEDC officials.

“Earlier, Canada was the most preferred destination among students, particularly for business administration courses. But due to recent changes in immigration policies, students are now opting for other countries,” said a GUEEDC official.

Sources within the corporation added that courses in artificial intelligence and mechanical engineering are drawing students to Germany and other European countries, while Russia, Georgia, Kyrgyzstan, and the Philippines are popular choices for medical education.

To be eligible for the loan, students must have secured at least 60% marks in Class 12 or an equivalent recognised course. The scheme covers diploma, undergraduate, postgraduate, postgraduate diploma, PhD, and other courses of at least one year or two semesters.

The annual income limit for applicants is set at Rs 6 lakh, and a maximum of two members from the same family can avail benefits under the scheme.