The Assam government on December 26th, 2019 officially distributed sanction letters to the beneficiaries of the Abhinandan education loan subsidy scheme which provides financial relief of Rs 50,000 education loan who wish to pursue higher education.
The program was held at the Srimanta Sankardeva International Auditorium in presence of Chief Minister Sarbananda Sonowal and host of other dignitaries.
Speaking at the event, Assam Finance Minister Himanta Biswa Sarma urged that more eligible youths of Assam should apply for the scheme.
The scheme aims to support students by providing loan waiver who have availed education loans. Under the scheme, Rs 50,000 one time subsidy will be deposited in the loan amount of 1,546 students.
To avail the benefits, check out the criteria:
- The applicant should be a permanent resident of Assam.
- The loan should be availed from any commercial or regional rural bank within the state.
- No income criteria.
- The education loan should be of a minimum of Rs 1 lakh.
- The loan should have been sanctioned before March 31, 2019.
- Education loans sanctioned since April 1st, 2019, the subsidy will be provided after disbursement of 25% of the total sanctioned loan amount.
- Beneficiaries already benefitted under ‘Bidya Lakshmi’ scheme is not eligible for the application of this scheme.
- Loan accounts should not be under NPA status.
- Visit the official website of the Assam Finance department. https://finance.assam.gov.in/
- You will see a menu: Abhinandan Education Loan Scheme—‘click here to apply’
- Click the link, you will be directed to an external link. Click it and scroll down. Fill in the application form
- Upload the relevant documents and save.
After the application meets the requirements, the subsidy amount will directly be deposited into your education loan account.
Photo credit: @HimantaBiswaSarma