Education and Career Forum

My father has an income of Rs. 6 lacs per annum. I am an MBBS aspirant. I have studied my 10+2 with scholarship from an International School. But the amount wasn’t fulfilling the fees. But I don’t want to rely on scholarship for studying MBBS. I want to take Education loan. So, with this family income, I can apply for education loan?

Eligibility:

The education loan would be provided to those students who have obtained admission to career oriented courses like medicine, Engineering, Management either at the graduate of post graduate level.

Secured at least 50% marks during HSC and graduation.

Secured admission in India or abroad through entrance test or merit based collection process and post completion of HSC.

Documents required:

Proof of Identity

IT returns of the last 2 years and computation of income of last 2 years certified by chartered accountant.

Proof of residence.

Bank statement

Copy of admission letter all the institute along with fees schedule.

Marks sheets or pass certificate of S.S.C., H.S.C., Degeee Course.

Yes, you can surely get education loan from bank. However, the amount apart from this you need to comply with the terms and conditions of the bank and complete all the norms and formalities as requisite by the bank. Your Academic back ground is good, hence there will not be much problem in getting education loan. Make sure you pursue MBBS course from a recognised a reputed Institute which offers good exposure and placement opportunities.

yes, you can apply.

The procedures are different from bank to bank, but almost all the banks now a days encourage and support the educational loans.

6 lakh/annum will definitely fetch you educational loan, but i am not sure they can able to provide the entire semester fees. they may settle down for a certain amount of percentage in the total semester fees.

Again that percentage limit varies with different banks. go in person to different banks in your area and figure out how much they can lend for a education.

Answering your main question : you are very eligible to get a loan with your family income of 6 lakh/ annum.