Who is eligible for the Abhinandan Education Loan Subsidy Scheme?

The scheme is open to permanent residents of Assam who have taken an education loan of ₹1 lakh or more from any Scheduled Commercial Bank or Regional Rural Bank approved by the RBI. However, students who have already availed benefits under the Bidya Lakshmi Scheme are not eligible.

What benefit does this scheme provide to students?

Eligible students receive a one-time subsidy of ₹50,000, which is directly deposited into their education loan account. This amount helps reduce the outstanding balance of the loan and makes repayment easier.

How can a student apply for the scheme?

To apply, students must visit the official Assam government portal and fill out an online form with their personal, academic, and loan-related details. The process also requires uploading documents like Aadhaar card, PAN card, residence proof, and the education loan sanction letter.

Are there any exclusions or restrictions under this scheme?

Yes, students who are already getting financial support under the Bidya Lakshmi Scheme are not allowed to apply for Abhinandan. Also, the loan must be taken from eligible banks and should not be below ₹1 lakh.

What documents are required while applying?

Applicants need to upload their Aadhaar card, PAN card, proof of permanent residence in Assam, the loan sanction letter from the bank, and their bank account details to complete the application successfully.

Who is eligible for the Abhinandan Education Loan Subsidy Scheme?

The scheme is open to permanent residents of Assam who have taken an education loan of ₹1 lakh or more from any Scheduled Commercial Bank or Regional Rural Bank approved by the RBI. However, students who have already availed benefits under the Bidya Lakshmi Scheme are not eligible.

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What Is The Abhinandan Education Loan Subsidy Scheme?

Alankar Mishra

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Updated: 28-01-2025 at 7:28 AM

What Is The Abhinandan Education Loan Subsidy Scheme?

On September 4th, 2020, the Assam government implemented its new education policy named, the Abhinandan Education Loan Subsidy Scheme which encourages students to pursue higher education. This is a state government scheme which is operational under the Department of Finance, whereby students are assisted with education loans with a one-time grant of ₹50,000. Therefore, it aims to eliminate barriers and help students pursue their dreams.

Let’s understand the Abhinandan education loan scheme Assam in detail, from its eligibility, and benefits, to apply online process.

Overview

Feature	Details
Launch Date	4th September 2020
Administering Department	Department of Finance, Assam
Eligibility	Permanent residents of Assam with loans from recognised banks
Loan Requirement	More than ₹1,00,000, sanctioned before 31st March 2019
Benefit	₹50,000 one-time subsidy
Application Mode	Online

What Is Abhinandan Education Loan Scheme?

The Abhinandan Education Loan Scheme is a government yojana introduced by the Government of Assam to support students pursuing higher education. The Education Loan Scheme provides a loan subsidy of up to ₹50,000. This one-time subsidy is available to families of students who have taken education loans of more than ₹1 lakh from major banks, including commercial banks like Federal Bank and HDFC. The state government scheme aims to help students with their education loans, making higher education more affordable and tension-free.

Objectives

The govt scheme is designed in the interest of students in order for them to be able to complete their studies. It seeks to increase the availability of advanced education and alleviate family resources. The main objectives of the scheme are listed here:

To enable students to attend college and university to pursue higher education.
To encourage students to continue their studies by subsidising existing educational loans.
To strengthen Assam’s education sector and prevent dropouts due to financial constraints.
To enhance the educational capability of the students in Assam.

Benefits Of The Abhinandan Education Loan Scheme

Let’s take a look at the benefits offered to students of Assam under the Abhinandan Education Loan Scheme that make this government loan scheme so attractive among students and families.

The Government of Assam will provide a subsidy of ₹50,000 on education loans up to ₹1 lakh.
Students can apply for the subsidy by paying 25% of their loan amount.
The subsidy is available for loans from commercial banks like Federal Bank and HDFC, and regional rural banks like Assam Rural Regional Bank.
The state government Yojana aims to offer financial help to students by encouraging them to take education loans.

Eligibility Criteria

To apply for the Abhinandan education loan scheme in Assam, students need to meet certain conditions. These ensure that the scheme benefits only the eligible applicants. Below are the key eligibility criteria:

Must be a permanent resident of Assam to qualify.
The loan must be taken from a commercial or rural bank.
The bank must be recognised by the Reserve Bank of India.
The student's parents must have an education loan of more than ₹1 lakh.

Exclusion Under The Education Loan Scheme

Although the govt scheme is available for nearly a massive mass of the state, however, certain people are not eligible to take part in this loan scheme. Let’s have a look at them.

Government employees cannot apply for this government scheme.
Students who receive benefits from this scheme cannot get benefits from any other govt scheme.
Students who have already benefited from the Bidya Lakshmi Scheme are not eligible to apply.

Application Process Of The Abhinandan Education Loan Scheme

Eligible students can easily apply for the Abhinandan Education Loan Scheme online. The process is simple and requires filling out a form with the necessary details. Follow these steps to complete your application:

Step 1: Visit the official Abhinandan Education Loan Subsidy website.

Step 2: Click on the "Apply" option for the Abhinandan Education Loan Scheme.

Step 3: Fill in the necessary details in the form.

Step 4: Upload the necessary documents.

Step 5: Submit the completed application.

Documents Required

To apply for the Education Loan Scheme, students need to provide certain documents. These documents help verify eligibility and process the application. Here is the list of required documents:

Aadhaar Card.
Parent Identification Documents.
Bank loan documents.
Residence certificate.

Conclusion

Students often miss out on opportunities to study at their desired universities because of financial constraints. To ensure that students go to their desired universities, the government of Assam introduced the Abhinandan Education Loan Scheme. With the help of this education loan scheme, students and parents no longer have to worry about the financial burden of paying the fees and the government will be helping them pay the fees.

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