Abhinandhan Education. Education loan subsidy scheme for pursuing higher education by the children of the permanent residents of Assam. Provide loan waiver www.assamfinanceloans.in/subsidy

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The concerned authority of the Assam Government has launched the Abhinandan Educational Loan Subsidy Scheme for the year 2020.

we will also share with you all the step by step application procedure which will be very beneficial if you are a student of Assam and want to pursue higher study in your state.

Objective Of Abhinandan Education Loan Subsidy Scheme

The main objective of launching the Abhinandan educational loan subsidy scheme is to help all of the people who are not able to gain higher education because they do not have sufficient funds to apply for big colleges and schools. 

FAQ- Abhinandan Education Loan Subsidy Scheme

• What is the Abhinandan Education Loan subsidy (AELS) scheme?
  Abhinandan Education Loan subsidy scheme is a program by the government of
  Assam to provide Rs. 50,000/- to all loanees who have availed education loans
  sanctioned till 31st March 2019. Further, all education loans sanctioned during
  2019-2020 shall also be eligible for this subsidy.
• What is the objective of the Program?
  The objective of this program is to extend relief to those permanent residents of
  the State, who have taken education loans or are in the process of taking
  education loans for their children to pursue their dreams of getting higher
  education. This shall also promote many young and bright students who are
  unable to pursue their higher education due to financial constraints to take
  education loans in the future.
• Who are eligible to avail benefits from this scheme?
   The scheme will cover all students who are permanent residents of
  Assam, studying in the state or outside, and have availed education loan
  from any commercial bank or Regional Rural Bank.
   There shall be no income criteria.
   Have not availed any benefit from Bidya Lakshmi Scheme.
   The minimum education loan amount sanctioned to avail the benefits
  under the scheme shall be Rs. 1 lakhs.
   Any account, which has not been classified as Non-Performing Asset
  (NPA) i.e. defaulting by the bank under Reserve Bank of India norms, will
  be eligible under the scheme.
• Education loans availed during which time period duration is
  applicable for this scheme?
  Education loans that have been sanctioned till 31st March 2019 are eligible to
  apply for this scheme. Further, any loan that shall be sanctioned during
  the current financial year i.e. 2019-20 shall also be eligible to avail of this scheme.
• Are personal loans taken to pursue education shall be subsidized
  under this scheme?
  No, only education loans shall be subsidized under this scheme.
• Is the Finance Department of the Government of Assam providing education
  loans?
  No, the Finance Department of the Government of Assam is only providing a subsidy
  for education loans sanctioned by the banks.
• Where and how can I apply?
  Applicant has to visit the website ‘https://finance.assam.gov.in’; Click on
  the Loan Subsidy link and by filling the online application form along with
  uploading the necessary documents.
• What should the applicant do after the submission of the application?
  After successful submission of the application, the application should take a
  print of the application form and keep it safe for future reference.
• What details shall be required to be filled in the online form?
  In the online form, the applicant shall be required to provided information
  about her/his father’s name guardian’s name, contact information, Pan Card
  , and details about the loan & the IFSC code of the branch from which it is
  availed.
• What are the document required to be uploaded?
  Applicant has to upload documents as proof of address, copy of pan card and
  proof of education loan availed.
• What are the proofs shall be valid for address proof?
  Any one of the following documents shall act as proof of address
  

• PRC Certificate
• Ration Card
• Aadhaar Card,
• Driving License,
• Voter Card,
• Passport

• What all proofs shall be valid as loan proof?
  Any one of the following documents shall act as proof of identity
  

• Loan Sanction Letter
• Loan Account Passbook Page showing details of the loan
• Loan Account Statement

• 
  These documents can be obtained from the branch of the bank from which the
  loan has been availed.
• Where can I obtain the documents for loan proof?
  These documents can be obtained from the branch of the bank from which the
  loan has been availed.
• What should be the type and size of the documents to be
  uploaded?
  The application should upload documents in JPG/JPEG/PNG/PDF version
  only. The size of each document should be less than 2 MB.
• Where can I know the status of my application?
  Applicant can track their status of application using registered mobile
  number and application number/loan account number.
• Where can I lodge my grievance?
  The branch Manager of the branch from where the loan has been sanctioned
  shall be Grievance Redressal Officer. An applicant has to formally submit
  a letter addressed to the Branch Manager.

Eligibility Criteria

• The applicant must be a resident of Assam state
• The applicant must the educational loan from any Scheduled Commercial Bank or Regional Rural Bank in the state of Assam
• The bank must be recognized by the Reserve Bank of India.
• There are no income criteria present in this scheme
• The loan must sanction before the date of 31st March 2019
• The loan must be of rupees 100000 or more
• A Loan account must not be under the NPA status
• For all education loans sanctioned since 1 April 2019, after disbursement of 25% of the sanctioned loan amount.
• Beneficiaries already benefited under Bidya Lakshmi Scheme are not eligible for application in this scheme.