Assam Abhinandan Education Loan Subsidy Scheme

Beneficiary Students who take an educational loan of Rs. 2 lakh or more for their higher education can now get a subsidy of Rs. 50,000/- under the Assam Government’s Abhinandan Education Loan Subsidy Scheme.
Read here to get the complete details about the scheme.

Introduction of Abhinandan Education Loan Subsidy Scheme: A Brief Insight

• The government of Assam started the Abhinandan Education Loan Subsidy Scheme on 26-12-2019.
• The main objective of the government behind starting this scheme is to support the youth of Assam State to complete their higher education.
• Assam Government’s Finance Department is the implementing department of this scheme.
• Subsidy on the educational loan will be provided by the government under the Abhinandan Education Subsidy Scheme.
• Beneficiary Students can avail the benefit of the maximum subsidy of Rs. 50,000/- on educational loan under this scheme.
• In the initial phase of this scheme, the government will provide a subsidy on educational loans of a minimum of Rs. 1 lakh.
• But on 05-09-2024, the Assam Government relaunched this scheme as “Abhinandan Education Loan Subsidy Scheme 2.0”.
• The Assam Government modified some of the eligibility conditions of this scheme.
• Now, Subsidy of Rs. 50,000/- under Abhinandan Education Loan Subsidy Scheme will only be provided to those students who have taken an educational loan of a minimum of Rs. 2 lakh or more.
• Earlier, Children of MPs, MLAs, Government or PSU employees were not eligible to apply for education loan subsidy under this scheme.
• But from now onwards Assam Government will provide relaxation in which the Children of Grade III and IV employees of the Government or Government PSUs, as well as pensioners, will now be eligible under the Abhinandan Education Loan Subsidy Scheme to claim a subsidy on education loan.
• Only those higher educational loans are eligible for subsidy under this scheme that are taken between 1st of April 2020 to 31st of March 2024.
• It is mandatory for a beneficiary student to repay 25% of the loan amount before applying for a subsidy under this scheme.
• There will be no income limit under this scheme, and if a beneficiary student studying outside Assam State then he/ she are also eligible to apply.
• Assam Government launched the Digital Infrastructure for DBT Schemes (DIDS) Portal through which beneficiary students can apply for subsidy on educational loans under the Abhinandan Education Loan Subsidy Yojana of the Assam Government.
• If a beneficiary student has already paid the loan amount or the loan account of the student has been declared as NPA by the lending bank, then they are not eligible to apply for a subsidy.
• Call on “18002026256” or drop an email at “dids-assam.gov.in” for any help required for the Assam Government’s Abhinandan Education Loan Subsidy Scheme.
• Beneficiary Students can also explore other educational welfare schemes of the Assam Government, which are “Jibon Prerana Scheme” and “Nijut Moina Scheme”.

Benefits Provided to Eligible Beneficiaries

• Students who take an educational loan of minimumof  Rs. 2 lakh will get the following benefits from the Assam Government under Abhinandan Education Loan Subsidy Achoni :-
  • Subsidy will be provided on Loans taken for pursuing Higher Education.
  • Maximum Subsidy of Rs. 50,000/- will be provided to beneficiary students.

Eligibility Conditions Required to be Fulfilled

• Assam Government will only provide education loan subsidy to those beneficiaries who fulfill the following eligibility criteria of Abhinandan Education Loan Subsidy Scheme of Assam :-
  • Only Permanent Resident Students of Assam are Eligible to Apply.
  • Beneficiary Students should be pursuing Higher Education within Assam or outside.
  • Students/ Parents should have taken a Higher Education Loan of a minimum of Rs. 2 lakh from any commercial or rural bank.
  • Education Loans should be sanctioned between 01-04-2020 to 31-03-2024.
  • Beneficiary Students should have returned a minimum of 25% of the Loan Amount.
  • No minimum or maximum Income Limit required.
  • Students studying outside Assam are also Eligible to apply.
  • Children of Permanent Grade III and IV Employees of Assam Government or Government PSUs and Pensioners are also eligible to apply.

Ineligibility Criteria

• If any student falls within any of the below-mentioned category, then he/ she is not eligible to getthe  educational loan subsidy of Rs. 50,000/- under Abhinandan Education Loan Subsidy Scheme 2.0 :-
  • If the Beneficiary Student has already paid the Loan Amount.
  • Children of a Member of Parliament.
  • Children of a Member of the Legislative Assembly.
  • Children of Panchayat Functionaries.
  • Children of Permanent Employees of the Government of Assam or Government PSU.
  • If the Bank declared the Loan Account as Non Performing Asset. (NPA)
  • Education Loan sanctioned before 01-04-2020 or after 31-03-2024.
  • Educational Loans of below 2 Lakh amount.

Documents Required to be Attached

• Beneficiary Students will have to submit the following documents to avail the benefit of subsidy on educational loan under the Assam Government’s Abhinandan Education Loan Subsidy Scheme :-
  

  Recent Color Passport Size Photo. Mobile Number. Scanned Signature of Applicant. Any one Address Proof of Assam :- Water or Electricity or Phone or Gas Bill. Aadhaar Card. Voter Identity Card. Passport. Bank Loan Documents. Domicile of Assam. Any one documents for identity proof :- Passport. Voter Identity Card. Aadhaar Card. PAN Card. Driving License. Passbook of Saving Bank Account.

How Beneficiaries Can Apply to Avail the Benefit of this Scheme

• Eligible Students who take an educational loan of Rs. 2 lakh or more can apply for a subsidy under the Abhinanadan Education Loan Subsidy Scheme through the Online Application Form.
• Assam Government’s Abhinandan Education Loan Subsidy Scheme Online Application Form is available on the Official Website of Digital Infrastructure for DBT Schemes. (DIDS)
  
• Visit the DIDS Portal and register yourself first.
• Enter your Phone Number and verify it through OTP.
  
• Choose your Password after OTP verification and click on Register.
• Login again with your Mobile Number and Chosen Password or log in with OTP.
  
• Click on Search and find Abhinandan Education Loan Subsidy Scheme 2.0.
  
• Click on it and fill out the small survey form in which DIDS Portal will check the eligibility of the student.
• Once the portal verifies that the student is eligible for the education loan subsidy, then the Abhinandan Education Loan Subsidy Achoni Online Application Form will appear.
• Click on Proceed to Apply.
  
• Fill in the Applicant Details first.
  
• Fill the Applicant Address Details.
  
• Upload all the required documents on the portal.
• Verify the details filled in the application form and click on the submit button to finally submit the application form to avail the subsidy on the education loan.
• The submitted Application Form and Documents will be verified by a branch of the lending bank/ institution.
• Selected Applicant Applications will then be forwarded to the Assam Government’s Finance Department within 4 weeks for final approval for subsidy.
• The Finance Department will further verify the applications, and the subsidy amount will be released directly into the loan account of the beneficiary student.
• Beneficiary Students can contact the Grievance Officer (Branch Manager of Lending Bank) in case of any assistance or help required for the Abhinandan Education Loan Subsidy Scheme.

Important Links Available

• Online Application Form of Abhinandan Education Loan Subsidy Scheme Assam.
• Registration Form of Abhinandan Education Loan Subsidy Scheme Assam.
• Login of Abhinandan Education Loan Subsidy Scheme Assam.
• Digital Infrastructure for DBT Schemes Portal. (DIDS)
• Guidelines of Abhinandan Education Loan Subsidy Scheme Assam.
• Official Website of Finance Department Assam.

Contact Details in Case of Help Needed

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

GSI

GSI (Government Schemes of India) is a dedicated content platform that provides well-researched, user-friendly articles on Central and State Government Schemes in India. Our goal is to make official information more accessible to students and families across the country.