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#1
24th May 2016, 01:31 PM
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Can I apply to get Education Loan on my father's name to study MBA in Abroad?
Respected Sir,
I want to take an Education Loan to study MBA in Abroad. Can I apply for Bank Education Loan on my father's name? Kindly let me know regarding this asap. |
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#2
25th May 2016, 08:18 AM
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Re: Can I apply to get Education Loan on my father's name to study MBA in Abroad?
No, you cannot directly apply for education loan on your father's name. You need to apply for education loan on your behalf only. Your father can become the co-borrower of the education loan provided he has a stable income source. If he does not have a stable income source, then you need to have someone else preferably of your family as the co-borrower.
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#3
25th May 2016, 10:28 PM
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Re: Can I apply to get Education Loan on my father's name to study MBA in Abroad?
No, you cannot apply for an Education loan on your father's name for pursuing MBA course in Abroad. Your father can be a Guarantor but, you cannot take education loan on your father's name because, the bank will ask you the admission letter along with other documents for sanction of education loan. On the admission letter, your name will be there and not your father's name, so, the bank will reject your loan. You can take an education loan on your name and you can submit your father's salary slips and collateral security to bank for getting and education loan to study MBA in Abroad.
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