If you are a permanent resident of Assam state then you will be able to get loans related to your educational requirements without having to worry about the interest rate and other difficulties that you will have to go through in order to pursue higher education. You can check out the details related to the Assam Abhinandan Education Loan Subsidy Scheme 2023 from the article provided below and we will also share with you all the step-by-step procedures to which you will be able to apply for the online registration for this scheme. You can get a proper subsidy related to the educational loan that you are taking in Assam through the development of this scheme.
About Assam Abhinandan Education Loan Subsidy Scheme
Assam Abhinandan Education Loan Subsidy Scheme is created by the Assam government in order to provide educational loans to all the students who are currently pursuing higher education but are not able to do so because of the financial background that they belong to. 50000 subsidies will be provided to all of these students who are pursuing higher education in Assam. The students must follow the eligibility criteria in order to be a part of the Assam abhinandana education loan subsidy scheme 2022. The subsidy scheme was created in order to provide proper educational opportunities to all of the students who are currently residing in the Assam state but are not able to continue their education due to various reasons such as financial difficulties or the adverse effect of the covid-19 pandemic.
Also Check: Assam Scholarship Online
Objective Of Assam Abhinandan Education Loan Subsidy Scheme
The Abhinandan educational loan subsidy scheme is created by the Assam Government and under this scheme, Rupees 50000 will be provided so that all of these students can get loans from the bank in order to pursue higher education. The students can register themselves for the scheme and get proper benefits for the premises related to their higher education. 1500 students have already benefited from the Assam Abhinandan education loan subsidy scheme and rupees 50000 were distributed among these students so that they will be able to now pursue their higher education in India without any problems coming their way. The loans are provided to the student so that they can get their tuition fees out of the way while they are studying at prestigious universities.
Benefits Of Assam Abhinandan Education Loan Subsidy Scheme
The following benefits will be provided to the people who are applying for this 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 obtain 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.
The applicant must follow the following eligibility criteria in order to apply for the scheme:-
- The applicant must be a permanent and legal resident of Assam state
- The applicant must have taken the educational loan from any Scheduled Commercial Bank or Regional Rural Bank in the state of Assam
- The bank must recognizeby the Reserve Bank of India.
- There are no income criteria present in this scheme
- The loan must sanction before the date of 31st March 2019
- The loan must be of rupees 100000 or more
- A Loan account must not be under the NPA status
- For all education loans sanctioned since 1 April 2019, after disbursement of 25% of the sanctioned loan amount.
- Beneficiaries who already benefited under Bidya Lakshmi Scheme are not eligible for application in this scheme.
Not Eligible Beneficiary
There are few people who will not be able to enjoy the benefits of the Abhinandan educational loan subsidy scheme as mentioned below:-
- If the repayment of the installments of the loans is past due for a specific time period then you will not be able to apply for the scheme.
- All the educational loans are declared as Non Performing Assets after the specific duration of 90 days.
- The Bidya Lakshmi scheme was launch by the Assam government in 2017. If you are one of the beneficiaries under the scheme then you will not be able to apply for the Educational Loan Subsidy Scheme.
- Through the Bidya Lakshmi scheme, Government employees were able to avail educational loans of 5 to 10 lakh.
The following documents requires in order to successfully apply for the scheme:-
- Student’s Aadhaar Card
- Parent Identification Documents
- Bank loan documents
- Residence certificate
Assam Abhinandan Education Loan Subsidy Scheme Application Procedure
To apply for this scheme you will have to follow the simple procedure given below:-
- You will first have to visit the official website of the scheme.
- The home page will open on your screen
- The details related to the Assam Abhinandan education loan subsidy scheme will open on your screen
- You have to click on the Apply Online button
- The application form will open on your screen.
- The candidates need to enter the details related to their personal information and their bank details.
- You need to upload the documents such as your address proof and your pan card.
- Click on the submit button in order to successfully submit the application.
- Your subsidy will transfer to your bank account.