The Assam government has always been committed to promoting education and empowering students with financial support. One such initiative that has significantly benefited students is the Assam Abhinandan Education Loan Subsidy Scheme. Launched on 26th December 2019 by the Hon’ble Chief Minister of Assam, this scheme aims to provide financial relief to students pursuing higher education by offering a subsidy on their education loans. Managed by the Finance Department, Government of Assam, the scheme ensures that higher education remains accessible to deserving students across the state.
Objective of the Scheme
Higher education can be expensive, and not all families can afford the cost of tuition, accommodation, and other expenses. Many students rely on education loans to fulfill their academic dreams. The Assam Abhinandan Education Loan Subsidy Scheme was introduced to ease this financial burden and encourage students to continue their education without economic stress. The primary goal of the scheme is to provide a subsidy of up to ₹50,000 on education loans to students who have availed loans from recognized banks in Assam.
Key Features and Benefits
The Assam Abhinandan Education Loan Subsidy Scheme has several benefits that make it an attractive financial aid program for students.
- Financial Assistance – The scheme provides a subsidy of up to ₹50,000 per student, reducing the repayment burden on students and their families.
- Covers Multiple Banks – The scheme includes both commercial banks like Federal Bank and HDFC Bank and regional rural banks like Assam Gramin Vikash Bank, ensuring widespread coverage.
- Encourages Higher Education – By reducing the financial strain, the scheme motivates students to pursue higher education without worrying about loan repayment.
- Government Support – This initiative is fully backed by the Government of Assam, ensuring transparency and efficient implementation.
Eligibility Criteria
To apply for the Assam Abhinandan Education Loan Subsidy Scheme, students must meet the following eligibility requirements:
- The applicant is required to be a permanent resident of Assam.
- The education loan should have been availed from any Scheduled Commercial Bank or Regional Rural Bank within Assam, recognized by the Reserve Bank of India (RBI).
- The minimum education loan amount should be ₹1,00,000 to qualify for the subsidy.
- The student must have paid at least 25% of their loan amount before applying for the subsidy.
Required Documents for Application
Students applying for the Assam Abhinandan Education Loan Subsidy Scheme need to submit the following documents:
- Passport-sized photograph of the student
- Aadhaar Card of the student
- Proof of Identity of the Parents (Aadhaar Card, Voter ID, etc.)
- Bank Loan Documents proving the loan amount and repayment status
- Proof of Address (Ration Card, Utility Bill, etc.)
- Residential/Domicile Certificate to confirm the applicant’s permanent residency in Assam
- Marksheets/Passing Certificate of the previous educational qualification
- PAN Card of the student (if applicable)
- Bank Account Details for subsidy transfer
Why is the Scheme Important for Students?
Education is a key to unlocking opportunities, yet financial challenges often stand in the way. The Assam Abhinandan Education Loan Subsidy Scheme helps students continue their education without financial hardships forcing them to drop out or compromise on their studies.
This scheme also promotes responsible borrowing, requiring students to repay at least 25% of their loan before becoming eligible for the subsidy.
Additionally, by covering both commercial and regional rural banks, the scheme extends its benefits to students across urban and rural areas of Assam, ensuring equal access to higher education regardless of financial background.