On September 5, the Assam government is set to introduce the second version of what is known as Abhinandan Education Loan Subsidy Scheme 2.0. Under this initiative, loans applied for higher education expenses will be eligible for a subsidy of up to Rs 50,000. To help students achieve their goals of pursuing higher education, the program offers loan subsidy for loans sanctioned between April 1, 2020, and March 31, 2024. All students seeking higher education within or outside the state of Assam who are permanent residents are eligible. Continue reading this article to know more about Abhinandan Education Loan Subsidy Scheme 2.0.
Objective of Abhinandan Education Loan Subsidy Scheme 2.0
The primary objective of Abhinandan Education Loan Subsidy Scheme 2.0 is to provide subsidy on education loans taken by students for higher education. Through this scheme, the government will provide a subsidy of Rs 50,000 on any student loan taken for education by the residents of the Assamese state. To get the benefit of the scheme, you must have an education loan of at least Rs 2 lakh. Five thousand Assamese students who took education loans for their post-secondary studies have already received this fifty thousand rupees. This year more students will benefit from this scheme.
Key Highlights of Abhinandan Education Loan Subsidy Scheme 2.0
| Name of the scheme | Abhinandan Education Loan Subsidy Scheme 2.o |
| Launched by | CM Of Assam State |
| Beneficiaries | Students who are doing Higher studies |
| Objective | Providing 50000 rupees to the students who take educational loans |
| Official Website | – |
Eligibility Criteria
- The applicant must be a permanent and legal resident of the state of Assam
- The applicant must have taken an education loan from any scheduled commercial bank or regional rural bank in the state of Assam
- The bank must be recognized by the Reserve Bank of India.
- There are no income criteria present in this scheme
- The loan must be taken between 1 April 2020 and 31 March 2024.
Loan Amount
- You must have an education loan of at least Rs 2 lakh to avail the benefits of the scheme.
Notification Date
- The Assam government announced this scheme on 20 August 2024 and is preparing to launch the second version of the scheme on 5 September.
Benefits of Abhinandan Education Loan Subsidy Scheme 2.0
- Under this scheme, a grant of up to Rs 50,000 will be available on loans applied for the cost of higher education.
- For loans sanctioned between April 1, 2020, and March 31, 2024, the program provides loan subsidies to help students achieve their goals of pursuing higher education.
- All permanent residents of the state of Assam who wish to pursue higher education are eligible, whether they do so within or outside the state.
Required Documents
- Student’s Aadhaar Card
- Parent Identification Documents
- Bank loan documents
- Residence certificate
Selection Process
All students pursuing higher education within or outside the state of Assam who are permanent residents are eligible. You must have an education loan of at least Rs 2 lakh to avail the benefits of the scheme.
Each recipient can avail the benefit only once.
Children of currently serving public officials including MPs, MLAs, panchayat officials and permanent employees of government or state-owned enterprises are not eligible.
Abhinandan Education Loan Subsidy Scheme 2.0 Apply Online
On September 5, the Assam government will launch the online portal for the second version known as Abhinandan Education Loan Subsidy Scheme 2.0. Till then, the application process to apply for the loan grant will be:
Step 1: First of all visit the official website of Abhinandan Education Loan Subsidy Scheme. The front page of the website opens.
Step 2: There you have to click on Apply for Loan Subsidy Scheme.
Step 3: Then fill in all the details and upload all the required documents.
Step 4: Click on the submit option and this is how you can apply for the scheme.
Frequently Asked Questions
What is Abhinandan Education Loan Subsidy Scheme 2.0?
Under this initiative, loans applied for higher education expenses will be eligible for a subsidy of up to Rs 50,000.
When will it be officially launched?
On September 5, the Assam government is set to introduce the second version of what is known as Abhinandan Education Loan Subsidy Scheme 2.0.
Who is eligible for this scheme?
You must have an education loan of at least Rs 2 lakh to avail the benefits of the scheme.
