Chief Minister Sarbananda Sonowal launched the Assam Abhinandan Education Loan Subsidy Scheme at the Srimanta Sankardev International Auditorium on 26 December 2019 in the presence of Finance Minister Himanta Biswa Sarma, Education Minister Siddharth Bhattacharya, several senior officials of the State Finance Department, and bank officials.

The objective of this scheme is to provide a loan subsidy of up to Rs 50,000 on education loans to students pursuing higher education from good institutions. The Abhinandan Education Loan Subsidy Scheme has been started with the Housing Scheme. Under this scheme, the Government of Assam will provide a one-time subsidy on loans to all students pursuing higher education on education loans. Under the Abhinandan Scheme all major banks, all commercial banks such as Federal Bank and HDFC are included.

In this scheme, the state government will provide subsidy to the family of those students who has taken an education loan of more than Rs 1 lakh. Students getting an education on an education loan can subscribe to this scheme online or offline. Here in this article, you will be given detailed information about the application process, eligibility criteria.

Benefits of Assam Abhinandan Scheme

• A subsidy of Rs 50,000 will be provided to students by the Government of Assam on education loans up to Rs 1 lakh

• In this scheme, all the applicant students can apply for the subsidy by paying 25% of their loans.

• Under this scheme, the subsidy can be obtained only on loans taken from commercial banks like Federal Bank and HDFC and regional rural banks like Assam Rural Regional Bank.

• In this scheme, all students have to get financial help by encouraging students on education loans

Eligibility

• It is mandatory for the student to be a permanent resident of the state of Assam.

• The student must have taken a loan from a commercial or rural bank, otherwise, he cannot avail of the benefit of the scheme.

• The bank has been recognized by the Reserve Bank of India.

• The benefit of this scheme can be availed only as a subsidy on education loans.

• It is mandatory for the student’s parents to have an education loan of more than Rs 1 lakh.