Guwahati, August 20: The Assam government will launch the second edition of the Abhinandan Education Loan Subsidy Scheme on September 5.
Under the scheme, which supports the higher education aspirations of students, the state government will offer a subsidy of up to Rs 50,000 on loans taken to finance higher education.
The loan subsidy (maximum of Rs 50,000 per existing education loan amount) will be provided under the scheme for loans sanctioned between April 1, 2020 to March 31, 2024
All students who are permanent residents of Assam, pursuing higher education in the state or outside, will be eligible for the scheme.
Minimum education loan amount sanctioned to avail the benefits under the scheme shall be Rs 2 lakh. The benefit under this scheme can be availed just once per beneficiary.
Notably, children of sitting public representatives – MPs/MLAs, panchayat functionaries, permanent employees in government/government PSUs – will not be eligible for the scheme.
Besides, any loan account, which has been classified as NPA (non performing asset) by the banks will not be eligible under the scheme.