Short Description:
The Government of Assam’s Abhinandan Education Loan Subsidy Scheme offers a one-time grant of ₹50,000 on existing education loans to eligible students pursuing higher education. This scheme aims to reduce the financial burden on students and encourage education loan uptake. The subsidy is available to permanent residents of Assam who have already repaid at least 25% of their sanctioned loan amount.
Table of Contents
1. About the Assam Abhinandan Education Loan Subsidy Scheme
The Assam Abhinandan Education Loan Subsidy Scheme is a flagship initiative by the Finance Department of Assam designed to provide financial relief to students who have taken education loans for higher studies.
Under this scheme, the state government grants a one-time subsidy of ₹50,000 directly to the loan account of eligible students. The subsidy is intended to ease repayment pressure and promote the culture of education financing through formal banking channels.
The scheme is not a full loan waiver—it is a partial repayment assistance. To qualify, students must have already repaid at least 25% of their sanctioned loan amount.
2. Key Highlights of the Scheme
| Feature | Details |
|---|---|
| Scheme Name | Assam Abhinandan Education Loan Subsidy Scheme |
| Launched By | Government of Assam |
| Beneficiaries | Permanent residents of Assam pursuing higher studies |
| Benefit Amount | ₹50,000 one-time subsidy on existing education loans |
| Loan Requirement | Loan amount must be more than ₹1,00,000 |
| Eligible Banks | Commercial and regional rural banks recognised by RBI |
| Application Mode | Online |
| Last Date to Apply | 29 November 2029 |
| Contact | gad.assam@gov.in / (0361)-234567 |
3. Objectives of the Scheme
The Assam Abhinandan Education Loan Subsidy Scheme was launched with the following goals:
- Reduce financial burden on students and families during higher education.
- Encourage students to opt for education loans rather than informal borrowing.
- Reward responsible repayment by offering subsidies only to those who have cleared 25% of their loan.
- Boost higher education enrollment among economically weaker sections.
4. Eligibility Criteria (Deadline: 29 November 2029)
Applicants must meet all of the following conditions:
- Must be a permanent resident of Assam.
- Education loan should be more than ₹1,00,000.
- Loan must be taken from a commercial bank or regional rural bank recognised by the Reserve Bank of India.
- Applicant should have already repaid at least 25% of the total sanctioned loan amount.
- Loans should be taken for higher studies, not for vocational or skill courses below graduation level.
Note:
- Loans from NBFCs, co-operative banks, or private lenders are not eligible.
- Federal Bank, HDFC Bank, Assam Gramin Vikash Bank, and other RBI-recognised banks qualify.
5. Benefits of the Scheme
- ₹50,000 One-Time Subsidy: The subsidy is credited directly into the education loan account.
- Encourages Education Loans: Motivates students to take loans from formal banking channels instead of high-interest private lending.
- State Government Support: Reduces overall repayment burden for families.
- No Collateral for Subsidy: The subsidy itself does not require any collateral or additional security.
Example:
If a student had taken a ₹4,00,000 education loan and has already repaid ₹1,00,000 (25%), the government will provide ₹50,000 towards their outstanding balance under this scheme.
6. Required Documents
Applicants must keep the following documents ready for submission:
- Student’s Aadhaar Card – Proof of identity and age.
- Parent’s Identification Documents – PAN card, Aadhaar, or voter ID.
- Bank Loan Documents – Loan sanction letter and repayment statement from the bank.
- Domicile Certificate – Proof of permanent residence in Assam.
7. How to Apply for the Assam Abhinandan Education Loan Subsidy Scheme
Follow these steps to apply online:
Step 1: Visit the official application portal and click on the ‘Apply Now’ button.
Step 2: If you are a new user, click on the ‘Register’ button and enter your details. If already registered, log in using your registered email ID.
Step 3: On your dashboard, click on the ‘Schemes’ section.
Step 4: Scroll to find the ‘Abhinandan Education Loan Scheme’ and click on it.
Step 5: Select the ‘Finance Department’ option on the right-hand side.
Step 6: Carefully read the instructions and start filling the online application form.
Step 7: Upload all the required documents in the specified format.
Step 8: Preview your application to ensure all details are correct, then click ‘Submit’.
8. Selection & Disbursement Process
- Verification: The Finance Department of Assam verifies the applicant’s eligibility and loan repayment details with the concerned bank.
- Approval: Once approved, the subsidy amount is sanctioned.
- Disbursement: The ₹50,000 subsidy is transferred directly to the applicant’s education loan account to reduce the outstanding balance.
9. Contact Information
For queries or assistanc:
10.How can you apply?
- Phone: (0361)-234567 (Monday to Friday, 10:00 AM to 6:00 PM IST)
- Email: gad.assam@gov.in Eligible applicants can follow these steps to apply:-
- Step 1: Click on the ‘Apply Now’ button below.
- Step 2: Click on the ‘Register’ button on the right-hand side of the dashboard and fill in the required details to ‘Register’ (Note:- If already registered, log in using the registered email ID.)
- Step 3: Click on the ‘Schemes’ button to proceed.
- Step 4: Scroll down the page to find the ‘Abhinandan Education Loan Scheme‘ and click on it.
- Step 5: Click on the ‘Finance Department’ button on the right side of the screen.
- Step 6: Follow the on-screen instructions to start the application process.
- Step 7: Complete the online application form by providing the required information and uploading the necessary documents.
- Step 8: Click the ‘Submit‘ button on the application application.
11. Disclaimer
The information provided here is sourced from official government portals and trusted finance education resources. Applicants are advised to verify the latest eligibility criteria, deadlines, and process from the official Assam government website before applying.
12. FAQs – Assam Abhinandan Education Loan Subsidy Scheme
Q1. What is the Assam Abhinandan Education Loan Subsidy Scheme?
It is a government initiative that offers a one-time grant of ₹50,000 to eligible students who have taken education loans for higher studies and repaid at least 25% of the loan amount.
Q2. Is this scheme applicable for loans from NBFCs?
No. The scheme applies only to loans from commercial or rural banks recognised by the RBI.
Q3. Do I need to submit a loan repayment statement?
Yes, you must submit an official repayment statement from your bank showing that at least 25% of the loan has been repaid.
Q4. Is the subsidy taxable?
No, government subsidies for education loans are not considered taxable income.
Q5. Can I apply if my education loan is exactly ₹1,00,000?
No, the loan must exceed ₹1,00,000 to be eligible
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