Abhinandan Education Loan Subsidy Plan was established in order to assist Assamese students who wish to continue higher education but are unable to do so because of their financial situation. All individuals who want to apply for a bank loan for an educational loan to pay for their higher education will be given 50000 rupees. This programme was introduced on September 4, 2020.
The Chief Minister of Assam State previously gave 1500 students a total of Rs 50000. 5000 students have already received Rs 50000 via this programme. The students will benefit much from this plan.
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Subsidy for Abhinandan Education Loans
The Abhinandan Educational Loan Subsidy Plan was established with the primary goal of assisting all those individuals who are unable to pursue higher education because they lack the financial means to enrol to prestigious colleges and universities.
The Chief Minister of the state of Assam has already taken a number of actions to enable him to offer free admission to educational institutions to all of these youngsters who have excellent test scores but are unable to pursue a higher education. As a result, Assam’s human capital will improve, and the population’s inclination to take higher education more seriously will rise.
Details of the Abhinandan Education Loan Subsidy Scheme
| Details of the Abhinandan Education Loan Subsidy Scheme | |
|---|---|
| Scheme Name | Abhinandan Education Loan Subsidy Scheme |
| Authority | Government of Assam |
| Department | State Department of Finance |
| Academic Year | 2023 |
| Category | Loan |
| Objective | To provide Rs. 50,000 as a subsidy to the educational loan loanees |
| Mode of Application | Online |
| Application Status | To be announced |
| Official Website | www.assamfinanceloans.in |
Goals of the Abhinandan Education Loan Subsidy Program
- The purpose of this strategy is to encourage more and more students to pursue further degrees.
- As a result, it will improve the state of Assam’s educational system.
- Financial restrictions will not stop the pupils from studying further.
- Maximize the learning potential of students.
- Also, this will improve the state’s human capital.
Eligibility requirements Abhinandan Education Loan Apply Online
- Only Assamese citizens who are residents in good standing may apply.
- Any state-approved regional rural bank or scheduled commercial bank must approve the loan.
- The family’s income has no upper limit.
- Before the end of March of each year, the loan amount must be sanctioned and be at least Rs. 1 lakh.
- For loans sanctioned after April 1, the subsidy will be given after the disbursement of 25% of the total loan amount.
- The accounts that are claiming loans should be in NPA status.
- Applicants who have already received loans through the “Vidya Laxmi Yojana” are not eligible.
Beneficiary ineligible for the Abhinandan Education Loan Program
- You cannot apply for the programme if the loan installment payback is due for a set period of time.
- After a given amount of time, usually 90 days, all student loans are deemed non-performing assets.
- The Assam government introduced the Bidya Lakshmi Yojana in 2017.
- You will not be eligible to apply for the Educational Loan Subsidy Scheme if you are one of the program’s recipients.
- Via the Vidya Laxmi Yojana, employees of the government are eligible for educational loans between 5 and 10 lakhs.
Apply for ALES online
Abhinandan Educational Loan Subsidy Program for 2023 has been made available by the relevant Assam government agency. Over 50,000 educational loan subsidies will be given under this programme to all students who want to pursue higher education. All of the eligibility requirements for the Abhinandan Educational Loan Subsidy Plan, which was introduced by the government of Assam, will be shared with you today.
If you are a student from Assam and wish to pursue higher education in your state, the application methods we will discuss with you in this article will be very helpful.
Application Procedure for the Abhinandan Education Loan Assistance
- To access the official website of the programme, click the provided link.
- You’ll see “Abhinandan Education Loan Subsidy” on your screen.
- Choose “Apply” from the list of options.
- Provide the necessary information.
- Name of applicant, Father’s name, Date of birth, mobile number
- pan card details, bank details, upload document, credit proof
- residence certificate, pan card proof
- To finish the application procedure, press the “Submit” button.
- The Assam government would then put Rs 50,000 in your education loan account as a subsidy.
How to Check the Status of an AELS Application Form
- Visit assamfinanceloans.in’s home page.
- Now click on the “Track” icon accessible.
- You’ll see the Track Abhinandan Education Loan Subsidy app.
- Enter your registered cellphone number, loan account number, or application number.
- To proceed, finally press the “Submit” button.