Gujarat Allocates Rs 61 Crore in Overseas Education Loans to 465 Students: Minister
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Synopsis
Gujarat has allocated Rs 61 crore in education loans for 465 students from disadvantaged communities, enabling them to pursue overseas education. Minister Bhikhusinh Parmar highlighted the increased loan amounts and the challenges posed by changing immigration policies.
Key Takeaways
- Gujarat disbursed Rs 61 crore for education loans.
- 465 students benefited from the program.
- Loan amount increased to Rs 15 lakh per student.
- Significant number of students pursue education abroad.
- Changing immigration policies may impact future numbers.
Gandhinagar, Feb 27 (NationPress) Gujarat’s dedication to higher education is enabling students from underprivileged communities to pursue studies abroad and forge successful careers, stated Minister of State for Social Justice and Empowerment Bhikhusinh Parmar on Thursday.
He mentioned that a total of Rs 61 crore has been allocated as education loans to 465 students from the developing castes category in Mehsana, Surat, and Banaskantha districts over the past two years.
“These loans, approved under the Foreign Study Loan Scheme, were granted at Rs 15 lakh per student as of December 31, 2024,” he asserted.
The announcement was made in response to an inquiry raised in the Gujarat Assembly.
Providing additional insights, Minister Parmar disclosed that in Mehsana, out of 297 applications, 224 were approved, resulting in 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 awarded under the scheme.
In Banaskantha, 59 out of 84 applications were approved, leading to Rs 7.33 crore being allocated to students.
The minister also emphasized that the loan amount has progressively increased over the years. Initially, in 2001, the scheme offered Rs 5 lakh per student, which was raised to Rs 10 lakh in 2007. Since 2014, the amount has been elevated to Rs 15 lakh, distributed in a single installment to facilitate financial planning for students.
In recent years, Gujarat has witnessed a significant influx of its students pursuing education abroad. On average, around 150,000 students from the state embark on higher education journeys overseas annually.
However, changes in immigration policies across Western nations have introduced uncertainties that could lead to a considerable decline in these figures. Data from the Ministry of External Affairs reveals that in 2017, 48,051 students from Gujarat went abroad for studies.
This number decreased in subsequent years, with 23,156 students in 2018 and 6,383 in 2019. Delhi, Gujarat, and Tamil Nadu each contribute about 8 percent to the overall 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.
