Education and Career Forum

My father has an income of 5 lacs per annum. I am a MBA aspirant. I have studied my BBA with scholarship. But the amount wasn’t fulfill the the semester fee. I always got half of the semester fee amount through scholarship. But I don’t want to rely on scholarship in MBA. I want to take student loans. So, with this family income, I can apply for education loan?

Originally Posted by Unregistered

My father has an income of 5 lacs per annum. I am a MBA aspirant. I have studied my BBA with scholarship. But the amount wasn’t fulfill the the semester fee. I always got half of the semester fee amount through scholarship. But I don’t want to rely on scholarship in MBA. I want to take student loans. So, with this family income, I can apply for education loan?

Yes, you can apply for an education loan to study MBA if has a family income of Rs 5 Lakhs per year. In general, education loans are offered to students on the basis of students’ academic strength and future employment prospects of the course. Most of the banks offer education loans to students to study MBA from any recognized university. Based on the education loan amount, you have to provide necessary security like third party guarantee or collateral security in the form of lands, building, shop, house, apartment, etc. You can also provide Government Securities / Public Sector Bonds / NSC / KVP / Bank Term Deposit etc.