Education and Career Forum

Hello Sir,
I'm going for a MS in USA. Can you give me the current situation in India for Education Loan from Bank? Is there any way that I can get a loan of Rs. 20 Lacs. I own a house of Rs. 50 lacs and my mother is a retired Government School Teacher whose pension is Rs. 8000. Kindly tell me I can get loan of that amount?

Yes, you can definitely get education loan of 20 lakhs in order to meet the expense of your study of MS course in USA. However, you need to get admission in well recognized and well reputed institute which provides good exposure to its students. Apart from this, you need to comply with various other terms and conditions of the concerned bank from which you are taking loan like having a third party guarantor, mortgage of property like house, land, vehicle, etc. The highest amount which can be taken as education loan in India currently is 20 lakhs, so you can definitely opt for it; however, the bank might ask to keep your house as mortgage.

Yes, you can definately get the loan of 20 lakhs
You must study in a good and reputed institution
In order to get loan you will have to keep something for mortgage such as house , vehicle many more
You will also need to have a third party i.e a guarantor
The highest you can opt for loan is 20 lakhs so you must go with that
Remaining you may have to submit some documents to your respected branch