Abhinandan Education Loan Subsidy Scheme

Abhinandan Education Loan Subsidy Scheme is a state scheme by the Assam government that gives a one-time subsidy of ₹50,000 on education loans to students who are permanent residents of Assam. The scheme was launched on 26 December 2019 and still accepts fresh applications from students pursuing higher education in recognized institutions.

Under this scheme, families that have taken an education loan of more than ₹1 lakh can get the subsidy amount credited against their loan. This lowers the total money the family has to repay and makes higher studies easier to manage.

Abhinandan Education Loan Subsidy Scheme - Introduction

Abhinandan Education Loan Subsidy Scheme was introduced by the Assam government to support students in their academic journey. The scheme gives a one-time subsidy of up to ₹50,000 on education loans for students enrolled in recognized institutions.

Students can apply for this subsidy online or through the manual process at partner banks. Major commercial banks such as Federal Bank and HDFC, and regional rural banks such as Assam Gramin Vikash Bank, are part of the scheme.

Benefits

The scheme gives clear money help to students who have taken education loans. Main benefits are:

• One-time subsidy of ₹50,000 from the government on valid education loans.
• Applicant should have paid at least 25% of the outstanding loan amount to qualify for the subsidy.
• Subsidy applies to loans taken from commercial banks such as Federal Bank and HDFC, and regional rural banks such as Assam Gramin Vikash Bank.
• The scheme makes higher education more affordable for families in Assam.

Eligibility

To get the subsidy, students need to meet these conditions:

• Must be a permanent resident of Assam.
• Must have taken an education loan from a bank recognized by the Reserve Bank of India (RBI).
• The education loan amount must be more than ₹1 lakh.
• The benefit is given only as a subsidy against a valid education loan.

Exclusions

Some conditions make a student ineligible for this scheme:

• Government employees cannot apply for this subsidy.
• Benefits cannot be combined with any other state-sponsored education loan subsidy scheme.
• Students who have already received benefits under Bidya Lakshmi Scheme cannot apply.

Application Process

Application can be done online through the official Assam state portal or through partner banks. Steps to apply online:

STEP 1 - Go to the official Assam state portal and open the Abhinandan Education Loan Subsidy Scheme page.

STEP 2 - Click on the application form link for the scheme.

STEP 3 - Fill in the student and family details correctly in the form.

STEP 4 - Upload the required documents such as Aadhaar card, residence certificate and education loan agreement.

STEP 5 - Review the details and submit the form for processing.

Documents Required

Keep these documents ready before applying: Aadhaar card of the student, identification documents of the parents, the original education loan agreement from the bank, and a valid residence certificate of the candidate.

References

For detailed scheme guidelines, check the official Abhinandan scheme page on SLBC North East. The Assam state portal also lists this scheme under its scheme pages.

FAQ's

What is the maximum subsidy one can get?

A one-time subsidy of ₹50,000 is given if the education loan is more than ₹1 lakh.

How much of the loan should be paid before applying?

The student should have already paid at least 25% of the loan amount to qualify for the subsidy.

Is this scheme only for residents of Assam?

Yes, only permanent residents of Assam can get this subsidy.

What is the minimum loan amount required?

The education loan must be for ₹1 lakh or more.

Can a student who borrowed under Bidya Lakshmi Scheme apply?

No. Students who have already received benefits under Bidya Lakshmi Scheme cannot apply for this subsidy.

Which banks are covered under this scheme?

Loans from commercial banks such as Federal Bank and HDFC, and regional rural banks such as Assam Gramin Vikash Bank, are covered.