Launched on 26 December 2019 by the Hon’ble Chief Minister of Assam, the “Assam Abhinandan Education Loan Subsidy Scheme” is managed by the Finance Department, Government of Assam. The scheme aims to encourage students to pursue higher education by providing a subsidy on education loans. Under this scheme, eligible students receive a loan subsidy of up to ₹50,000 on their education loans. The scheme covers loans from both commercial banks (like Federal Bank and HDFC) and regional rural banks (like Assam Gramin Vikash Bank) operating within Assam. Only permanent residents of Assam who have availed an education loan of at least ₹1,00,000 from a Scheduled Commercial Bank or Regional Rural Bank are eligible, with the subsidy being available when the student pays 25% of their loan.
Benefits
- Loan Subsidy:
The government provides a loan subsidy of up to ₹50,000 per student.
Eligibility
- Residency:
The applicant must be a permanent resident of Assam. - Loan Provider:
The education loan must be taken from any Scheduled Commercial Bank or Regional Rural Bank within Assam recognized by the Reserve Bank of India. - Loan Amount:
The education loan should be a minimum of ₹1,00,000. - Application Condition:
Students can apply for the subsidy when they pay 25% of their loan.
Application Process
Online
- Access the Portal:
Visit the official website and navigate to the “Click here for Loan Subsidy” section. - Application Form:
Click on “Assam Abhinandan (Education Loan Subsidy Scheme)” to access the “Application for Release for Subsidy” form. Fill in all mandatory details such as Applicant Name, Father’s Name, Date Of Birth, Address, Mobile Number, PAN Card Details, and Bank Details. - Upload Documents:
Upload the required supporting documents including Loan Proof (Loan Sanction Letter, Loan Account Passbook, Loan Statement), Address Proof, and PAN Card. - Declaration:
Review the declaration and click “Save” to submit the application.
Check Application Status:
- Visit the official website and click “Track” in the “Application Tracking” section at the bottom right.
- Provide your Mobile Number, Loan Account Number or Application Number, and click “Submit” to view the status.
Documents Required
- Passport-sized photograph of the student.
- Student’s Aadhaar Card.
- Proof of identity of the parents.
- Bank loan documents (Loan Sanction Letter, Passbook, Statement).
- Proof of address.
- Residential/Domicile Certificate.
- Marksheets or Passing Certificate of the previous educational qualification.
- PAN Card.
- Bank details (as required in the application).
Frequently Asked Questions
- When was the Assam Abhinandan Education Loan Subsidy Scheme launched?
It was launched on 26 December 2019. - Who launched the scheme?
The scheme was launched by the Hon’ble Chief Minister of Assam. - What is the maximum subsidy available?
The maximum subsidy provided per student is ₹50,000. - Does the scheme cover loans from banks like Federal Bank and HDFC?
Yes, it covers all commercial banks including Federal Bank and HDFC, as well as regional rural banks like Assam Gramin Vikash Bank. - What is the main objective of the scheme?
The objective is to encourage students to pursue higher education by reducing the financial burden through subsidies on education loans. - Can students from other states apply?
No, only permanent residents of Assam are eligible. - Where can I find the scheme guidelines?
The scheme guidelines are available on the official Assam State Portal. - What is the minimum education loan amount required?
The education loan should be at least ₹1,00,000. - Is it possible to apply offline?
No, applications under this scheme must be submitted online. - What documents are required for the application?
Required documents include a passport-sized photograph, Aadhaar Card, parents’ identity proof, bank loan documents, proof of address, residential/domicile certificate, previous academic certificates, PAN Card, and bank details. - How can I check the status of my application?
The application status can be tracked on the official website using your Mobile Number and Loan Account/Application Number.