The Abhinandan Education Loan Subsidy Scheme 2.0 aims to support Assam’s students and their families by reducing the financial strain of education loans through a ₹50,000 subsidy.
Objective:
The scheme is designed to alleviate the financial burden on students and their parents by offering a subsidy of up to ₹50,000 on education loans.
Eligibility Criteria for Abhinandan Education Loan Subsidy Scheme 2.0:
- Permanent Residency: Applicants must be residents of Assam.
- Higher Education: Open to students pursuing higher education in Assam or elsewhere.
- Loan Period: Loan must be sanctioned between 1st April 2020 and 31st March 2024.
- Loan Amount: Loan should be below ₹2 lakhs and not classified as NPA.
- Exclusion: Children of MPs, MLAs, Panchayat functionaries, and permanent government employees are ineligible.
- One-Time Benefit: Can only be claimed once per beneficiary.
Impact of Abhinandan Education Loan Subsidy Scheme 2.0:
- Eases Financial Burden: Provides substantial relief to students with a ₹50,000 subsidy, making loan repayment more manageable.
- Promotes Higher Education: Encourages students to pursue further studies by reducing financial constraints, particularly those studying outside Assam.
- Long-Term Economic Growth: Contributes to developing a skilled workforce, fostering better employment opportunities and boosting Assam’s economy.
By lightening the loan burden, this scheme not only facilitates higher education for Assam’s youth but also plays a role in nurturing a skilled workforce for the state’s long-term economic growth.
