Assam Government took a step towards encouraging education amongst the underprivileged through the Abhinandan Education loan subsidy scheme. Education is a tool that provides the people with knowledge, skill, information and enables them to know their rights and duties toward society and the nation. It expands their vision and outlook to see the world. It develops the unparalleled capabilities to fight against injustice, violence, corruption, and many other harmful elements.
Assam Government has already proved its mettle by launching several social schemes for the welfare of society. Abhinandan Education Loan Subsidy Scheme is an essential feather added to the cap by the Assam Government. The plan is a great initiative to help those who are not able to pursue their higher studies due to financial flux. Assam Government realizes the very fact of how important is education for society.
Through Abhinandan Education Loan Subsidy Scheme, Assam Government is ensuring that no one is left untouched. The scheme aims at covering maximum applicant who wants to study further and build their dreams. The plan is to promote education amongst all society sections and ensure that all curious students get covered under the scheme’s garb.
About Abhinandan Education Loan Subsidy Scheme
The Assam Government launched the Abhinandan Education Loan Subsidy Scheme to promote education for all. CM Assam, on 26 December 2019, started Abhinandan Yojana during a program held at Srimanta Sankardev Kalakshetra situated in Guwahati.
In this current scheme, around 50,000 subsidies are provided on educational loans to all students who want to pursue higher studies. Abhinandan educational loan subsidy scheme launched to take care of the students of Assam. Those who wish to gain higher education but cannot achieve anything because of the financial situation can rely on this scheme.
Under the current scheme, the Government will encourage students to pursue higher studies by providing Rs—50,000 subsidy on education loans. This scheme is implemented in a phased manner. The state government ascertained that this scheme would immensely help students who have availed of students loan.
The Assam Abhinandhan Education Loan Subsidy Scheme online application form is available on its official website. The scheme covers all other commercial banks like the Federal Bank or HDFC and the regional rural banks like Assam Gramin Vikash Bank within Assam.
Objectives of the Scheme
The prime objectives of the Abhinandan Education Loan Subsidy Scheme include:
- The current program’s objective is to extend relief to those permanent residents of the State of Assam taken education loans or are willing to take education loans to pursue their dreams of getting a higher education. The Government’s same efforts shall also promote many young & bright students who cannot pursue their higher education due to financial confinements to take education loans in the future.
- To provide free admission into the educational institutions to all of these students who are very good in their results but cannot gain an education.
- To increase the human capital in the Assam State.
- The state govt. Assam has taken multiple initiatives to maximize academic opportunities for students.
- To encourage education amongst all sections of society to improve the standard of society.
Benefit of the Abhinandan Education Loan Subsidy Scheme
The main benefit that the Government shall provide to the curious applicant who wants to apply for this scheme is the availability of Rs. 50000 on any educational loan taken by the Assam state students. The students will cover their educational loan payment through the 50000 rupees visually provided to them by the Government of Assam. This 50000 rupee has been provided to the 5,000 students of Assam States who have taken educational loans to cover their higher education cost. The Government has previously launched the same scheme in the year 2016 also.
Eligibility Criteria
To apply for this Abhinandan Education loan subsidy scheme, the applicants must fulfill the following eligibility criteria:
- The applicant must be a permanent & a legal resident of Assam state.
- The applicant must have taken the educational loan from any Scheduled Commercial Bank or Regional Rural Bank in Assam.
- The Reserve Bank of India must recognize the bank.
- There are no income criteria present in this scheme.
- The loan must sanction before the date 31 March 2019
- The loan must be of rupees 100000 or more.
- A Loan account must not be under the NPA status.
- For all the education loans sanctioned since 1 April 2019, after disbursement of 25% of the approved loan amount.
- Beneficiaries already benefited under Bidya Lakshmi Scheme are not eligible for application in this scheme.
Abhinandan Education Loan Subsidy Scheme- Registration
The Abhinandan education loan subsidy scheme of Assam’s state will help students who have taken students loan. For new student beneficiaries, the state government has launched a website, www. assamfinanceloans. in. Students can easily register by 20 September 2020 to avail themselves of its benefits. In the online form, the applicant must provide information about her or his father’s name, guardian’s name, contact information, Pan Card, and other details about the loan & the IFSC code of the branch from which it is availed.
Apply Online for Abhinandan Education Loan Subsidy Scheme
Step 1- The Applicants need to visit the Official Website of Abhinandan Education Loan Subsidy Scheme, i.e., https://assamfinanceloans.in/.
Step 2- On the Homepage, they need to click on the Option “Apply” button.
Step 3- The Application Form shall be successfully displayed on the screen.
Step 4- Now, the applicants need to enter the required details like 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).
Step 5- The applicants need to click on Submit Button for the final submission of the application.
Note: After successfully applying, the applicant must print the application form and keep it safe for future reference. After that Assam Government will deposit a subsidy amount of Rs. 50,000 into your education loan account.
Apply-Online-for-Abhinandan-Education-Loan-SubsidyProcedure to Track the Status of Abhinandan Education Loan Subsidy Scheme List 2020
Step 1- Visit the Official Website of Abhinandan Education Loan Subsidy Scheme, i.e., https://assamfinanceloans.in/.
Step 2- On the Homepage, Click on the Option “Track” button.
Step 3- Application Tracking popup page be displayed on the screen.
Step 3- Now enter the Mobile no and Loan Account No. Or Application Number.
Step 4- After entering, click on the submit button, and the Abhinandan Education Loan Subsidy Scheme status and beneficiary list show on the screen.
List of Important Documents
- Student’s Aadhaar Card
- Parent Identification Documents
- Bank loan documents
- Residence certificate
What is the Document required to be Uploaded?
The applicant has to upload documents as proof of address, copy of pan card, and proof of education loan availed.
What are the Valid Documents for Address Proof?
Any of the following documents shall act as address proof:
- PRC Certificate
- Ration Card
- Aadhaar Card,
- Driving License,
- Voter Card,
- Passport
What are all Documents Valid as Loan Proof?
Any of the following documents shall act as identity proof:
- Loan Sanction Letter
- Loan Account Passbook Page showing details of the loan
- Loan Account Statement
To Wrap Up
As an Aatmnirbhar Sena, we are doing our best to Aid and Assist the Assam government in fulfilling the Abhinandan Education Loan Subsidy Scheme’s dream. The scheme is a bold reform towards the education sector that has suffered a lot during the coronavirus phase. We shall lead and usher all curious applicants in overcoming the hindrance lying on the way.
We shall ensure its success in the long run. The Abhinandan Education Loan Subsidy Scheme should be a grand victory for all if we managed to be the Government’s voice and implement it in the desired manner.
