Rs 61 crore disbursed to 465 Gujarat students for overseas education loans: Minister
Gandhinagar, Feb 27 (IANS) Gujarat’s commitment to higher education is helping students from disadvantaged communities pursue studies abroad and shape bright careers, said Minister of State for Social Justice and Empowerment Bhikhusinh Parmar on Thursday.
He said a total of Rs 61 crore has been provided as education loans to 465 students from the developing castes category in Mehsana, Surat, and Banaskantha districts over the past two years.
“These loans, sanctioned under the Foreign Study Loan Scheme, were disbursed at Rs 15 lakh per student as of December 31, 2024,” he claimed.
The announcement came in response to a question raised in the Gujarat Assembly.
Providing further details, Minister Parmar revealed that in Mehsana, out of 297 applications, 224 were approved, leading to a total disbursement of Rs 27.14 crore in education loans. In Surat, 182 out of 284 applications were sanctioned, with Rs 26.57 crore granted under the scheme.
Meanwhile, Banaskantha saw the approval of 59 out of 84 applications, resulting in Rs 7.33 crore being distributed to students.
The minister also highlighted that the loan amount has gradually increased over the years. Initially, in 2001, the scheme provided Rs 5 lakh per student, which was increased to Rs 10 lakh in 2007. Since 2014, the amount has been raised to Rs 15 lakh, and it is now disbursed in a single installment to ease financial planning for students.
In recent years, Gujarat has seen a substantial number of its students pursuing education overseas. On average, approximately 150,000 students from the state embark on higher education journeys abroad annually.
However, shifts in immigration policies across Western nations have introduced uncertainties, potentially leading to a significant decline in these numbers. Data from the Ministry of External Affairs indicates that in 2017, 48,051 students from Gujarat went abroad for studies.
This figure saw a decrease in subsequent years, with 23,156 students in 2018 and 6,383 in 2019. Delhi, Gujarat, and Tamil Nadu each contribute approximately 8 per cent to the total number of Indian students traveling abroad for higher education.
The migration of Gujaratis for education and other opportunities has occurred in phases, influenced by factors such as land-holding patterns and economic prospects.
–IANS
janvi/dan
