The importance of education is well known to everyone. A good education is a guiding light towards the path of development and prosperity. Assam government envisages the same and launched a scheme, called Assam Abhinandan Education Loan Subsidy Scheme. The motive behind the scheme is to inspirit the students to continue their higher studies by providing subsidies on the existing educational loans. To know more about the Assam Abhinandan Education Loan Subsidy Scheme, follow the article below. We have encompassed all the related and essential information on the mentioned topic, such as its objectives, benefits, eligibility criteria, and how one can avail of its benefits. Check the following article for more details.
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Abhinandan Education Loan Subsidy Scheme
The Government of Assam launched two schemes, Abhinandan Education Loan Subsidy Scheme and Aponar Apon Ghar Home Loan Subsidy Scheme together to provide subsidies to the respective loanees. The former scheme is for the students who availed the educational loans while the latter is for the home loans.
AELS, Abhinandan Education Loan Subsidy Scheme is a flagship programme launched by the Government of Assam. Under this scheme, a subsidiary amount of Rs. 50,000 will be sanctioned to the loanees of educational loans to continue their higher education studies. The loans must have been sanctioned before the 31st of March of every year.
The scheme is regulated and supervised by the Department of Finance, Assam. An online platform has been designed by the same department to ease the accessibility of the scheme to the beneficiaries.
Brief Description of Assam Abhinandan Scheme
|Assam Govt Scheme
|Name of the Scheme
|Abhinandan Education Loan Subsidy Scheme
|Government of Assam
|Department of Finance
|To provide Rs. 50,000 as a subsidy to the educational loan loanees
|Mode of Application
|To be announced
Objectives of Abhinandan Education Loan Subsidy Scheme
Abhinandan Education Loan Subsidy Scheme entirely focuses upon the deserving students of the state who wish to pursue higher education in their chosen fields. As already mentioned, the scheme grants a subsidy of Rs. 50,000 to those who have their educational loan sanctioned before 31st March of each financial year. The scheme prime objectives are as follows.
- The scheme aims to encourage more and more students to continue with higher studies.
- Consequently, it will strengthen the education sector of the Assam state.
- Financial constraints will not let down the students to study more.
- Optimize the academic capabilities of the students.
- This will also enhance the human capital of the state.
Benefits of अभिनन्दन शिक्षा ऋण सब्सिडी योजना
The foremost and most important benefit of the Abhinandan scheme is that the financial aid of Rs. 50,000 will be granted to the loaners of the educational loans as a subsidy. The amount will help them to focus more on their studies rather than financial restrictions. Each year, the scheme benefits are disbursed to the 5000 selected students under the scheme. It is a one-time deposit that is fully borne by the state government.
Eligibility Criteria of AELS Scheme
The scheme is applicable only for the students of the Assam state. Check the eligibility criteria to avail of the अभिनन्दन शिक्षा ऋण सब्सिडी योजना benefits.
- Only the permanent residents of the Assam state can apply.
- The loan must be sanctioned from any Scheduled Commercial Bank or Regional Rural Bank within the state.
- There is no limit on the family income.
- The loan amount sanctioned must be at least Rs. 1 lac and before 31st March of each year.
- The subsidy will be granted after the 25% disbursement of the total loan amount for the loans sanctioned after 1st April.
- The loan claiming accounts should be NPA status.
- Students who have availed of the loan under the ‘Bidhya Lakshmi Scheme’ are not eligible to apply.
Application Procedure of Assam AELS Abhinandan Education Loan Subsidy Online Apply
The state government has facilitated the application procedure for the Abhinandan Education Loan Subsidy Scheme in an online manner. However, the online applications are not yet available for the current year.
To apply for the scheme, check the step by step procedure described below.
Step I:- Use the link here to visit assamfinanceloans.in. The following page will open.
Step II:- Click on the following icon so as to apply for the scheme.
Step III:- The application form with all the eligibility norms and conditions will appear. Go through them carefully before applying.
Step IV:- Feed the correct details in the corresponding boxes. The details required are :
(I) Applicant Details
(ii) Loan Details
Step V:- Upload all the supporting documents in the stipulated format. The essential documents list has been shared in the subsequent section.
Documents Required For Assam Education Loan Subsidy Scheme
The essential documents that will be required to complete the application procedure of the Abhinandan Education Loan Subsidy Scheme.
- ID Proof
- PAN Card
- Residential Proof
- Proof of availed education loan
- Loan Sanction Letter
- Loan Account Passbook
- Statement of Loan
Step VI:- After that, tick the check box of the self-declaration and tap on the “Save” button.
Step VII:- Your application for the Assam AELS scheme has been successfully submitted. Save the assigned application number for future use.
Track Application Status
- Click on the “Track” icon available of homepage of assamfinanceloans.in as shown.
- Enter your loan account number or application number and the registered mobile number.
- At last, click on the “Submit” button to continue.
Frequently Asked Questions
The educational loans loaners will get Rs. 50,000 as a subsidy to cover the total loan amount acclaimed for higher education.
No, such students are not entitled to the benefits of the Abhinandan scheme.
The following documents work as address proof:
– Ration Card
– Aadhaar Card
– Voter ID
– PRC Certificate
The size of each document must be less than 2 MB and the prescribed format is JPG/ JPEG/ PNG/ PDF.
For technical support, you write your issues to firstname.lastname@example.org.
Let us know if you have any queries regarding the Abhinandan Education Loan Subsidy Scheme via the comments section below. We will try to find an appropriate solution to your problem and revert back at our earliest.