Educational Loan Scheme (GBCDC)
₹15 lakh education loan · 3.5–4% interest · backward class Gujarat
The Gujarat Backward Classes Development Corporation (GBCDC) offers education loans of up to ₹15 lakh at concessional interest rates to students from socially and educationally backward communities pursuing approved professional courses like engineering, medical, MBA, or MCA. The interest rate is 4% per annum for male students and 3.5% for female students. Apply online through the GBCDC portal at gbcdconline.gujarat.gov.in.
About This Scheme
The Gujarat Backward Classes Development Corporation (GBCDC) offers education loans of up to ₹15 lakh at concessional interest rates to students from socially and educationally backward communities pursuing approved professional courses like engineering, medical, MBA, or MCA. The interest rate is 4% per annum for male students and 3.5% for female students. Apply online through the GBCDC portal at gbcdconline.gujarat.gov.in.
Full official description
The scheme "Educational Loan Scheme" is implemented by the Gujarat Backward Classes Development Corporation (GBCDC) under the Social Justice and Empowerment Department, Government of Gujarat. The scheme aims to provide financial support for higher technical and professional education to students belonging to belonging to socially and educationally backward classes. Under this scheme, loans are provided at concessional interest rates to eligible students pursuing approved graduate and postgraduate professional & technical courses in fields such as engineering, medical, MBA, MCA, etc.
Benefits
- Maximum loan of up to ₹15 lakh
- 4% interest per annum for male students; 3.5% for female students
- Covers admission fees, tuition, and accommodation/food expenses
- 90% of loan funded by National Corporation; 5% by State Government; 5% by beneficiary
- Repayment in 60 equal monthly installments (5 years)
💡 Why Startups Should Care
With 90% funded by the National Corporation and just 4% interest, this scheme makes graduate and postgraduate professional education genuinely accessible for backward class families in Gujarat.
Who Can Apply (Eligibility)
- Must be a resident of Gujarat and belong to a socially and educationally backward class
- Annual family income must not exceed ₹3 lakh (priority given to families with income up to ₹1.5 lakh)
- Must have scored at least 50% marks in Class 12 or the qualifying examination
- Must be admitted through a recognized entrance examination to eligible courses: MBA/MCA (AICTE-recognized), B.E/B.Tech (IIT or AICTE-recognized), Medical/allied education (MCI-recognized), or Hotel Management Diploma
- Students admitted under management quota are not eligible
Exclusions
- Not eligible if admitted under management quota
- Applicants with ATKT (backlog subjects) may face restrictions
How to Apply
- Visit gbcdconline.gujarat.gov.in — Gujarat Backwards Caste Development Corporation portal.
- Click "Apply Now" and select this Educational Loan Scheme.
- Submit identity proof, caste certificate, income certificate, and Class 12 marksheet.
- Provide admission letter from a government-approved institution.
- Submit the application and track status.
Frequently Asked Questions
What is the purpose of this scheme?
This scheme provides financial support to socially and educationally backward class students to pursue graduate and postgraduate professional and technical education.
Who is eligible to apply under this scheme?
The applicant should belong to a socially and educationally backward class.
Is there any preference given based on family income?
Yes, preference is given if the applicant’s family income is up to ₹1,50,000 per annum.
What is the minimum percentage required in academics to apply under this scheme?
The applicant must have secured at least 50% marks in Class 12 or the qualifying examination.
What kind of admission process is required for eligibility under this scheme?
The student must have secured admission through a recognized entrance examination conducted by the Central/State Government or through a selection process with at least 50% marks in the qualifying examination.
Are there specific courses covered under this scheme?
Yes, this scheme covers MBA, MCA, graduate-level engineering, medical education, and hospitality management courses.
Does this scheme cover engineering courses from all institutions?
Only engineering courses conducted by IITs or other institutions recognised by AICTE are covered.
Is medical education included in this scheme?
Yes, medical education, including Ayurvedic, Homoeopathic, and Unani courses recognised by the Medical Council of India, is covered.
Is hospitality management covered under this scheme?
Yes, diploma courses in hospitality management recognized by the National Council of Hotel Management are included.
What expenses are covered under this scheme?
This scheme covers admission fees, tuition fees, accommodation, and food expenses.
Does this scheme deduct any other financial assistance before sanctioning?
Yes, the loan amount is sanctioned after deducting any amount received under the Mukhyamantri Yuva Swavalamban Yojana.
Will fees be paid if the student has failed or has ATKT?
No, if the student has failed or has ATKT, the fee for the second semester will not be paid.
Ready to apply?
Visit the official government portal to apply for this scheme.
Apply on myScheme.gov.inDocuments Required
- Identity proof
- Caste certificate
- Income certificate
- Class 12 marksheet / qualifying examination marksheet
- Admission letter from a government-approved institution