Assam Abhinandan Education Loan Subsidy Scheme

Scheme Introduction: A Brief Overview

• Assam Government works toward educational reforms in the State in which lots of welfare schemes in the field of education like "Nijut Moina Scheme" has started.
• Another major important scheme which is started for the welfare of students is "Abhinandan Education Loan Subsidy Scheme".
• It was started in the year 2019 on 26th of December.
• Government of Assam's main aim is to financially support the students so that they can pursue for their higher education.
• Finance Department of the Assam Government is the nodal department of this scheme.
• The Government will now provide a financial subsidy to all eligible students who take an educational loan to complete their higher education.
• Rs. 50,000/- as subsidy will be provided under Abhinandan Education Loan Subsidy Scheme.
• Loan amount taken for higher education should be Rs. 2 lakh or more.
• Earlier, this amount is Rs. 1 lakh or more, but on 05-09-2024, the Assam Government launched the 2.0 version of this scheme named "Abhinandan Education Loan Subsidy Scheme 2.0".
• Now, Grade 3 and Grade 4 Government Employees' Children can also apply for a subsidy under this scheme.
• Only those educational loans are eligible for the subsidy of Rs. 50,000/- under the Abhinandan Education Loan Subsidy Scheme 2.0, which are disbursed between 01-04-2020 to 31-03-2024.
• Beneficiary Students can only apply for a loan subsidy if they have repaid 25% of the educational loan amount.
• Online Applications for Abhinandan Education Loan Subsidy Scheme of Assam Government are available on the DIDS Portal.
• Contact the Branch Manager of Lending Bank, Finance Department of Assam to get any assistance regarding this scheme.

Scheme Benefits

• Assam Government will provide the below-mentioned benefits to eligible selected students under its Abhinandan Education Loan Subsidy Scheme :-
  • Students who take Higher Education Loans will get a Subsidy.
  • Government will provide a maximum subsidy of Rs. 50,000/- on education loans of 2 lakh or more.

Eligibility Requirements

• Subsidy of Rs. 50,000/- on higher education loan under Abhinandan Education Loan Subsidy Scheme will only be provided to those students who meet the below-mentioned eligibility requirements of scheme:-
  • Student should be a Permanent Resident of Assam State.
  • Student should be currently studying in any Higher Education Course within or outside Assam.
  • Student or their Parents should have taken an Rs. 2,00,000/- or more Education Loan for higher education.
  • Higher Education Loan of Rs. 2 Lakh should be sanctioned from any commercial or rural bank between 01-04-2020 to 31-03-2024.
  • Repayment of 25% Loan Amount is necessary before applying for a subsidy.
  • Grade 3 and Grade 4 Government Employees' Children are also eligible for benefits.

Ineligibility Conditions

• Assam Government also sets some ineligibility conditions for Abhinandan Education Loan Subsidy Scheme :-
  • Higher Education Loans of less than Rs. 2,00,000/-.
  • Children of any of the below-mentioned category people :-
  • Member of Parliament.
  • Member of Legislative Assembly.
  • Panchayat Functionaries.
  • Grade 1 and Grade 2 Government Servent.
  • Non Performing Asset Loan Account.
  • Loan disbursed before 1st April 2020 and after 31 March 2024.

Required Documents

• The following documents will be uploaded on the Digital Infrastructure for DBT Schemes (DIDS) Portal at the time of applying for the Abhinandan Education Loan Subsidy Scheme to get a subsidy of Rs. 50,000/- on educational loans :-
  • Applicant Scanned Signature.
  • Color Photo.
  • Mobile Number.
  • Any One Document for Address Proof of Assam.
  • Any One Document for Identity Proof.

Steps to Apply

• Assam Government has Digital Infrastructure for DBT Schemes (DIDS) Portal through which Students can apply for Abhinandan Education Loan Subsidy Scheme.
  
• Open the Website and Register yourselves first with your mobile number.
  
• Login with Mobile Number and Password to fill Online Application Form of Abhinandan Education Loan Subsidy Scheme.
  
• Search the Scheme Name.
• Fill in Applicant Details and Address Details in the form.
• Upload the documents in PDF format.
• Check all the filled details and click on the submit button to submit it.
• Bank Branch will verify the received application form and documents and forward the list of eligible students to the Department of Finance of the Assam Government.
• Subsidy Amount of Rs. 50,000/- will be transferred to the loan account of the student after final approval.
• Branch Manager of the lending bank is the grievance office of this scheme, and students can contact him/ her in case of any help is required.

Relevant Links

• Abhinandan Education Loan Subsidy Scheme Online Application Form.
• Abhinandan Education Loan Subsidy Scheme Registration.
• Abhinandan Education Loan Subsidy Scheme Login.
• Assam DDIS Portal.
• Abhinandan Education Loan Subsidy Scheme Guidelines.
• Assam Finance Department Website.
• Assam Finance Department Contact Details.

Contact Information

• Contact Number of Abhinandan Education Loan Subsidy Scheme :- 18002026256
• Contact Email of Abhinandan Education Loan Subsidy Scheme :- dids-assam@assam.gov.in
• Assam Finance Department Address :-
  Block F, Janta Bhawan,
  Dispur, Guwahati 781006.

Frequently Asked Questions

• What is the Abhinandan Education Loan Subsidy Scheme of Assam?
  -The Abhinandan Education Loan Subsidy Scheme is a financial assistance program by the Assam Government that offers a subsidy of Rs. 50,000/- on education loans for higher studies.
• When was the Abhinandan Education Loan Subsidy Scheme launched?
  -The scheme was launched on 26th December 2019 and updated as Abhinandan Education Loan Subsidy Scheme 2.0 on 5th September 2024.
• Who is eligible for the Abhinandan Education Loan Subsidy Scheme?
  -Permanent residents of Assam who have taken an education loan of Rs. 2,00,000/- or more and have repaid 25% of the loan are eligible.
• What is the amount of subsidy provided under this scheme?
  -A maximum of Rs. 50,000/- is provided as a subsidy for educational loan under this scheme.
• Are children of government employees eligible?
  -Yes, children of Grade 3 and Grade 4 government employees are eligible under Abhinandan Education Loan Subsidy Scheme 2.0. Children of Grade 1 and 2 government employees are not eligible.
• What is the loan disbursement period eligible under the scheme?
  -Only loans disbursed between 01-04-2020 and 31-03-2024 are eligible.
• Can I apply under Abhinandan Education Loan Subsidy Scheme if my loan amount is less than Rs. 2 lakh?
  -No, loans below Rs. 2,00,000/- do not qualify for this subsidy.
• Are loans from any bank valid for this scheme?
  -Yes, loans must be sanctioned by any commercial or rural bank.
• Where can I apply for this scheme?
  -Applications must be submitted online through the Digital Infrastructure for DBT Schemes (DIDS) Portal.
• What documents are required for application?
  -You need a scanned signature, color photo, mobile number, address proof of Assam, and identity proof.
• Who is not eligible for this scheme?
  -Students with loans below Rs. 2 lakh, loans marked as NPA, and children of MPs, MLAs, Panchayat members, and Grade 1 and 2 government servants are not eligible.
• How is the subsidy amount transferred to the student?
  -After verification, Rs. 50,000/- is directly credited to the student's education loan account.
• Who can I contact for help or grievances?
  -You can contact the Branch Manager of your lending bank, who serves as the grievance officer.
• Can students studying outside Assam apply for this scheme?
  -Yes, students studying within or outside Assam are eligible for Abhinandan Education Loan Subsidy Scheme 2.0 if they meet all other conditions.