The COVID-19 has affected the economic sphere of the country. The pandemic has affected the financial aspect of people. With millions of joblessness across the nations, the COVID-19 has shattered many dreams of studying in international universities. The students have been reconsidering their arrangements for staying and studying in international universities. Not all students have chosen to give up their plans; some are still stuck with ideas of getting admission in international universities. Many students and residents of Gujarat have decided to continue with their plan of studying in universities abroad. Gujarat Unreserved Educational and Economical Development Corporation (GUEEDC) receives around 1182 online application for sanctioning loans to study in international universities. The majority of the applicants have decided to study in the US, Canada and Australia. Gujarat Unreserved Educational and Economical Development Corporation (GUEEDC) have allocated 1900 of a total loan for the current financial year.
What is GUEEDC?
The government of Gujarat had established Gujarat Unreserved Educational and Economical Development Corporation (GUEEDC) in 2017 to help out the people in providing credits and loans for several goals. The organization provides financial loans to the unreserved sections of the people who are economically weaker than the other class. Gujarat Unreserved Educational and Economical Development Corporation (GUEEDC) provides loans for education along with training oneself for the competitive examination. The organization also provides loans for people who wish to study abroad. It provides help schemes to the unreserved section of the people whose annual income is Rs 4.5 lakh to Rs 6 lakh. The organization provides loans for up to Rs 15 lakh for the beneficiary.
The Pro-Vice-Chancellor of Gujarat University who is currently serving as one of the members in GUEEDC, Jagdish Bhavsar has said that it was important to provide financial opportunities. The financial prospects will help in providing better scope that comes first and foremost during the pandemic.
List of some applicants
Vivek Ginoya had graduated in 2015 from G K Bharad Institute of Engineering at Kastubadham. The respective college is in Tramba, Rajkot. Currently, he is working as a consultant engineer at private construction. He has applied for the Master’s degree in Project Management. He is waiting for his loan to get sanctioned. Gujarat Unreserved Educational and Economical Development Corporation (GUEEDC) is clearing his loan for his study at Perth in Australia. The fee of his course is Rs 10 lakh that he has to pay in the month of November. He has got his admission confirmed in the month of June. After paying his fees, he will get his DOE certificate. He said that Australia would provide a better scope for civil engineer. His father runs a small business of footwear in Rajkot and the younger brother is studying engineering. The business has been in the loss due to the COVID-19/ coronavirus.
Another student, Richa Bhatt had completed her Pharmacy in 2019. She aspires to study abroad and has paid her fees in the month of July. Her initial expense was Rs 10 lakh, but the amount increased due to the addition of health insurance during the pandemic. Even if, she would decide to withdraw her seat at this hour, the money could not be refunded.
Ritu Malani has applied for the Master’s Course in Applied Computer Science. She wants to study in Halifax, Canada. She had graduated in Computer Science from Swami Atmanand College, Surat in 2019 and currently, working in Information Technology (IT) in Vesu. She has applied for a loan in Gujarat Unreserved Educational and Economical Development Corporation (GUEEDC). The total cost of the course is Rs 20 lakh.
Mili Javia has applied for two years of Master’s course in Technology, management. She has to pay an annual fee of Rs 50 lakh for the course. The course would start in the month of January 2021. She has been expecting financial assistance of Rs 15 lakh from Gujarat Unreserved Educational and Economical Development Corporation (GUEEDC).
Revised notification of GUEEDC
The respective person can transact the financial loans for Graduation, Post- Graduation, MBBS Course. The applicants must have at least 60 per cent in Grade 12.
GUEEDC provides financial assistance of an amount of Rs 15 lakh at an annual interest of 4 per cent. The yearly income of the family must be up to 6 lakh.
The Former Minister of State for Education, Nanubhai Vanani stated that the COVID-19 couldn’t shatter the hopes of the student who wanted to study abroad. He is also ahead of Samast Patidar Samaaj Surat Sarkari Yojana Margdarshak Kendra. Even though many parents have opposed the decision, some students have decided to stick by the rules.
Did COVID-19 affect the choice of places to study abroad?
It is estimated that almost 91 per cent of the students have a strong desire to study abroad. Before the advent of the pandemic, the majority of the students wanted to study in the UK, Canada and Australia. Now, the students have changed their plans and want to carry out their studies in New Zealand, Germany, Ireland, South Korea and Singapore. The ‘iSchoolConnect’ has conducted a survey of 5000 college students who wish to study abroad. Most of the students have preferred to study in the countries where COVID-19 is under control. The CEO of ‘SchoolConnect InC, Ashish Fernando has said that the COVID-19 might not have shattered the plans to study abroad but it had affected the choice of destination.
Contrary to this, another education consultancy platform, ‘Edvoy’ surveyed about 4000 of the Indian students. They asked if the students would wish to study in the UK, the US, Canada and Ireland. Most of the students have answered that they are willing to study in the US after January 2021. Around 35 per cent of the students have planned to study in Canada. Almost 42 per cent of the students aspire to study in the UK. They have welcomed the new mode of education that requires face to face learning along with online learning.
The advent of COVID-19 may have delayed the plans to study abroad. It has not affected the plans of destination. The students have changed their areas of studies and several new courses have been introduced in various parts of the countries. The new method of education has approached the students.