Abhinandan Education Loan Subsidy Scheme 2023. The Abhinandan Educational Loan Subsidy Scheme was established to assist Assamese students who wish to pursue higher education but are unable to do so due to financial constraints. All those who want to get an educational loan from a bank for their higher education will be given 50000 rupees.
This programme was launched on September 4, 2020. Previously, the Chief Minister of Assam State distributed Rs 50000 to 1500 students. 5000 students have already received Rs 50000 under this scheme. This will be a fantastic scheme for the students.
2023 Abhinandan Scheme
The Assam government has announced the Abhinandan Education Loan Subsidy (AELS) scheme to assist permanent residents of the state, with the goal of providing Rs. 50,000 to students who have taken out education loans by March 31, 2019. The subsidy will also be available for education loans issued in 2021-22. ASEL 2022 aims to provide relief to permanent residents of Assam who have already applied for education loans as well as those who wish to apply.
The Abhinandan Scheme 2023 is a significant step forward in the development of children because it allows state children to work toward their goals by completing higher education. This will alleviate the financial difficulties of many Assamese children and families, paving the way for a brighter future.
Abhinandan Education Loan Subsidy Scheme Goal
The Abhinandan Education Loan Subsidy Scheme is entirely dedicated to deserving state students who wish to pursue higher education in their chosen fields. As previously stated, the scheme provides a Rs. 50,000 subsidy to those who have their educational loan sanctioned before the 31st of March of each fiscal year. The primary goals of the scheme are as follows.
The scheme aims to encourage an increasing number of students to pursue higher education.
As a result, Assam’s education sector will be strengthened.
Financial constraints will not deter students from studying more.
Improve the students’ academic abilities.
This will also benefit the state’s human capital.
Criteria for Eligibility for the Abhinandan Education Loan Subsidy Scheme 2023
To be eligible for the Abhinandan Education Loan Subsidy Scheme, all applicants must meet the following eligibility criteria:
The applicant student must be an Assamese permanent resident.
Any Scheduled Commercial Bank or Regional Rural Bank within the state recognised by the Reserve Bank of India should have provided an education loan.
There are no income requirements.
All loans sanctioned before March 31, 2020, totaling Rs. 1 lakh or more.
After disbursement of 25% of the sanctioned loan amount for all education loans sanctioned since 1 April 2020.
Beneficiaries who have previously benefited from the Bidya Lakshmi Scheme are ineligible to apply for this scheme.
Loan accounts must not be in default.
Beneficiary ineligible
There are a few people who will be unable to benefit from the Abhinandan educational loan subsidy scheme, as listed below:
If your loan instalments are past due for an extended period of time, you will be unable to apply for the scheme.
After a period of 90 days, all educational loans are classified as non-performing assets.
The Assam government launched the Bidya Lakshmi scheme in 2017. If you are a scheme beneficiary, you will not be able to apply for the Educational Loan Subsidy Scheme.
Government employees were able to obtain educational loans ranging from 5 to 10 lakh under the Bidya Lakshmi scheme.
Advantages of the Abhinandan Education Loan Subsidy
The main benefit that the government will provide to those who apply for this scheme is the availability of Rs. 50000 on any educational loan taken out by Assam students. The students will be able to cover their educational loan payments with the visually provided 50000 rupees by the Government of Assam. This 50000 rupee has already been distributed to the 5,000 Assam State students who have taken out educational loans to cover their higher education costs. The scheme was previously launched by the government in 2016.
Documents required for registration include:
Photo Identification
PAN Number
Proof of Permanent Residency
The Aadhar Card
In addition, Loan Sanction Letter
Passbook information for a bank account
Loan Statement
Educational diploma of the student
Online Registration for the Abhinandan Education Loan Subsidy Scheme
The Assam government’s Abhinandan education loan subsidy scheme will greatly benefit students who have taken out student loans. The state government has set up a website, www.assamfinanceloans.in, where students can register to receive the benefits by September 20th. Subsidies of Rs. 50,000 will be distributed between the 7th and 10th of October. With the Housing Scheme, the Abhinandan Education Loan Subsidy Scheme was launched. The Assam government will provide a one-time loan subsidy to all students pursuing higher education under this scheme. All major banks, including Federal Bank and HDFC, are included in the Abhinandan Scheme.
In the online form, the applicant must provide information such as her/his father’s name, guardian’s name, contact information, PanCard, loan details, and the IFSC code of the branch from which the loan is obtained.
How to Apply for the Abhinandan Education Loan Subsidy Scheme Application Form 2022 Online
Go to the Abhinandan Education Loan Subsidy Scheme’s official website, assamfinanceloans.in.
Click the Option “Apply” button on the Homepage.
The Application Form page will appear on the screen.
Enter all of the required information (Applicant Name, Father’s Name, Date of Birth, Address,
Mobile Number, Pan Card Details, Bank Details, and other information) and upload documents (Loan Proof, Address Proof & Pan Card Proof).
To complete the application, click the Submit button.
Note- After successfully submitting an application, the applicant should print the application form and keep it in a safe place for future reference. Following that, the Assam government will deposit a subsidy of Rs. 50,000 into your education loan account.
1)What exactly is the Abhinandan Scheme? Ans This scheme will provide approximately 50,000 subsidies on educational loans to all students who wish to pursue higher education. Today, we will share with you the eligibility requirements for the Assam government’s Abhinandan educational loan subsidy scheme.
2)How can I get a loan subsidy for my education? AnsThe student must provide an income certificate issued by a competent authority appointed by the respective state governments (such as a Tehsildar) and submit it to the branch where the loan is obtained, as well as execute the necessary documents.
