Abhinandan Education Loan Subsidy Scheme in Vikarabad
AELSS
Government of Assam
Guidance for businesses in Vikarabad
Chief Minister Sarbananda Sonowal launched the Assam Abhinandan Education Loan Subsidy Scheme at the Srimanta Sankardev International Auditorium on 26 December 2019 in the presence of Finance Minister Himanta Biswa Sarma, several senior officials of the State Finance Department, and bank officials.
At a glance
- Scheme Name
- Abhinandan Education Loan Subsidy Scheme
- Launched
- 26 December 2019
- Implementing State
- Government of Assam
- Subsidy
- Rs 50,000 on education loans up to Rs 1 lakh
- Applicant Contribution
- 25% of the loan
- Eligible Banks
- RBI-recognised commercial and regional rural banks
Benefits
Subsidy:
- A subsidy of Rs 50,000 will be provided to students by the Government of Assam on education loans up to Rs 1 lakh.
Application Terms:
- In this scheme, all the applicant students can apply for the subsidy by paying 25% of their loans.
Eligible Banks:
- Under this scheme, the subsidy can be obtained only on loans taken from commercial banks like Federal Bank and HDFC and regional rural banks like Assam Rural Regional Bank.
Purpose:
- In this scheme, all students have to get financial help by encouraging students on education loans.
Eligibility
- It is mandatory for the student to be a permanent resident of the state of Assam.
- The student must have taken a loan from a commercial or rural bank, otherwise, he cannot avail of the benefit of the scheme.
- The bank has been recognized by the Reserve Bank of India.
- The benefit of this scheme can be availed only as a subsidy on education loans.
- It is mandatory for the student's parents to have an education loan of more than Rs 1 lakh.
- Exclusions: Government employees are not allowed to apply to the scheme.
- Exclusions: The student obtaining benefits under this scheme shall not be allowed to avail of benefits under any other scheme for this purpose.
- Exclusions: Beneficiaries who already benefited under Bidya Lakshmi Scheme are not eligible for application in this scheme.
Documents required
- Student's Aadhaar Card
- Parent Identification Documents
- Bank loan documents
- Residence certificate
How to apply
- 1
Visit the official website.
- 2
With respect to the "Abhinandhan Education Loan Subsidy", click on the apply option.
- 3
The Assam Abhinandhan Scheme Online Application Form will appear. Now provide the required details.
- 4
Upload the required documents and submit.
About the scheme
The Abhinandan Education Loan Subsidy Scheme is an Assam government initiative that provides a subsidy on education loans to support students financially. Under the scheme, a subsidy of Rs 50,000 is provided on education loans up to Rs 1 lakh taken from commercial or regional rural banks recognised by the Reserve Bank of India.
Why it matters
- Eases Loan Burden:
- A Rs 50,000 subsidy on education loans up to Rs 1 lakh.
- Encourages Education:
- Supports students financially on their education loans.
- Accessible Terms:
- Students can apply by paying 25% of their loans.
- Recognised Banks:
- Applies to loans from RBI-recognised commercial and rural banks.
Focus areas
- Education Loan Subsidy:
- Rs 50,000 subsidy on loans up to Rs 1 lakh.
- Student Support:
- Encouraging students to pursue education.
- Financial Relief:
- Reducing the education loan burden.
Is this scheme right for you?
The Abhinandan Education Loan Subsidy Scheme helps Assam's students manage the cost of education loans. By providing a Rs 50,000 subsidy on loans up to Rs 1 lakh—available on paying just 25% of the loan—the scheme eases the financial burden of higher education. If you are a permanent resident of Assam with an eligible bank education loan, this scheme can provide meaningful relief.
Frequently asked questions
What is the maximum subsidy one can avail?
A subsidy of Rs 50,000 will be provided to students by the Government of Assam on education loans up to Rs 1 lakh
What is the percentage one has to pay for applying for scheme?
25% of the loan
Is it only for the resident of the state?
The applicant must be a permanent and legal resident of Assam state
What is the amount of loan should be
The loan must be of rupees 100000 or more.
Bidya Lakshmi Scheme are eligible
Beneficiaries who already benefited under Bidya Lakshmi Scheme are not eligible for application in this scheme.
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