Abhinandan Education Loan Subsidy Scheme 2.0: Assam’s New Financial Aid for Students

Guwahati, August 20, 2024: The Government of Assam has rolled out the Abhinandan Education Loan Subsidy Scheme 2.0, a financial aid initiative aimed at supporting the higher education aspirations of students. This scheme is designed to provide a maximum subsidy of ₹50,000 per existing education loan for loans sanctioned between April 1, 2020, and March 31, 2024.

The scheme is available to all students who are permanent residents of Assam and are pursuing higher education within or outside the state. To qualify for this scheme, the education loan must have a minimum sanctioned amount of ₹2 lakh. However, certain exclusions apply: children of sitting public representatives such as MPs, MLAs, and Panchayat functionaries, as well as permanent government employees and those working in government PSUs, will not be eligible for the subsidy. Additionally, loan accounts classified as Non-Performing Assets (NPA) by banks are also ineligible.

The government has announced that an online portal for applying to this scheme will be launched on September 5, 2024, coinciding with Teacher’s Day. This initiative is expected to provide substantial financial relief to many students, further encouraging them to pursue higher education.

This scheme is a significant step by the Assam government to ease the financial burden on students and their families, fostering an environment where higher education is more accessible to all.

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