Assam Abhinandan Education Loan Subsidy Scheme 2020 (Apply Online Form, Eligibility, List of Beneficiaries, Documents, Last Date, Amount)
Assam government has come up with the idea of Assam Abhinandan Education Loan Subsidy Scheme for the benefit of students. The scheme shall offer subsidy for loans and encourage students better to opt for high studies and complete their education. It shall help the parents to cover up for the loan amount. But there are certain exceptions for the scheme for the students to be eligible to get the benefits. The following part shall take you through some other relevant details of the scheme.
Assam Abhinandan Education Loan Subsidy Scheme Launch details
|Name||Assam Abhinandan Education Loan Subsidy Scheme|
|Target group||School students|
|Main objective||Encourage students to pursue higher studies|
|announced by||HimantaBiswaSarma, Assam government|
|Date of scheme launch||4th Sept 2020|
|Date for student’s registration||On and before 20th September|
|Subsidy amount for students||Rupees 50, 000|
|Date of subsidy release||7th to 10th October|
Highlighting features of scheme –
- Main focus of scheme – The main purpose to launch the scheme is to encourage the higher secondary school students to complete their education and opt for higher education.
- Beneficiaries of scheme – Students of schools who are looking for educational loans
- Beneficiary amount under the scheme – Rupees 50, 000 subsidy for education loans for the students
- Students receiving bank approval – As of now, a total of 5,547 students have got the loan approval from Assam state government
However, this loan subsidy scheme will be implemented in different phases for the help of the students.
Eligibility criteria for the scheme –
- Residential details – As the scheme has been launched in Assam, only the permanent residents of the state is eligible
- Income details – There are no such income limit for the students to be eligible for the scheme
- Loan date – It is eligible for loans that have been sanctioned before 31st March 2020 of rupees 1 lakh or more.
- Not under Bidya Lakshmi Scheme – If students have availed benefits of Bidya Lakshmi Scheme, they are not eligible to get the benefits under the current scheme.
- Banks to take loans – If only loans are taken from commercial banks or any rural banks or recognized by RBI are eligible for the scheme subsidy.
- Educational details –The students should be studying in recognized schools in the state to be part of the loan subsidy scheme
Documents required under the scheme
- Residential details – The students should furnish suitable residential proof at the time of registration for the scheme
- Identification proof – As identification, the students should produce voter ID card, Aadhaar card, ration card and the like options
- Educational details –The students should have suitable school certificates which is checked by school authorities to ensure their eligibility in the scheme
- Bank details – The bank details shall help to know the details of loan sanctioned based on which the candidates can apply for its subsidy
- Disbursement of loan – For loans sanctioned since 1st April, 2020, it is eligible for 25% disbursement of loan
- Loan limit – The candidates should offer suitable details of loan documents as only rupees 1 lakh or more loan amounts are eligible
How to apply for Abhinandan Education Loan Subsidy Scheme
- First, students have to visit official site
- As the home page shows up, you have to click on the “Abhinandan Education Loan Subsidy Scheme” option
- Following this, the application form of the scheme shows up on the screen
- Try to enter correct details in the form, before you click on the submit option that will complete the registration procedure
Therefore, after the completion of the registration procedure, the subsidy amount will be credited in the linked bank account of the students.
Exceptions to Abhinandhan Education Loan Subsidy Scheme
Loan falling in NPA status
The loans belonging to non-performing assets category considered default is not included. This happens when loan repayment is past due. Banks declare education loans as NPA after 90 days.
Loan benefitted from Bidya Lakshmi scheme
Any loan under Bidya Lakshmi Scheme is not eligible to be part of the above said scheme.
The main purpose of the launch of the loan waiver scheme is to help the students pursue for higher studies and complete their education. If they have opted for education loans, they are sure to be benefitted from the same. Therefore, the state government is trying its best to implement the scheme and make it a successful one.With the benefits of this scheme, the students should complete their education and try to compete to make a successful career. Through the scheme, the government is trying to improve the education infrastructure of the state.
Ans: It is about offering loan subsidy
Ans: Waive off loan for the ones who have taken education loans or are planning to take one
Ans: Students who are natives of Assam are eligible for the scheme
Ans: One has to visit https://finance.assam.gov.in portal to register for the scheme.
Other links –