Guwahati, 20th August: The Assam government is preparing to roll out the second edition of the Abhinandan Education Loan Subsidy Scheme on September 5. This initiative is designed to ease the financial burden on students pursuing higher education by offering a subsidy of up to Rs 50,000 on educational loans.
The scheme will be available to students who have taken out loans for higher education, with eligibility for loans sanctioned between April 1, 2020, and March 31, 2024. It aims to support the educational aspirations of students by reducing their financial stress, thus encouraging more to pursue higher studies.
Key Features of the Scheme:
- Eligibility: Permanent residents of Assam pursuing higher education within the state or outside are eligible.
- Loan Criteria: The scheme covers loans with a minimum amount of Rs 2 lakh.
- Subsidy Limit: A maximum subsidy of Rs 50,000 will be provided on the loan amount.
- One-Time Benefit: The subsidy can only be availed once per beneficiary.
- Exclusions: Children of sitting MPs, MLAs, Panchayat functionaries, and permanent government or PSU employees are not eligible. Additionally, loans classified as Non-Performing Assets (NPAs) by banks are excluded.
Required Documentation:
- Student’s Aadhaar Card
- Parent Identification Documents
- Bank Loan Documents
- Residence Certificate
This initiative reflects the Assam government’s commitment to making higher education more accessible to its residents by easing financial barriers. The upcoming launch is eagerly anticipated by students and families across the state.
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