Education and Career Forum

Respected Sir,
I want to study Aerospace Engineering in Abroad. I came to know that it will take upto Rs. 40 Lacs. My father died and my mother is a housewife. The earning person in my family is my brother. I can manage Rs. 5 Lacs from home and depending rest on Educational loan. Can I get an education loan of Rs. 30 Lacs for studying in Abroad in this condition?

I am sorry to say this but you will not be able to get the amount as an Educational Loan.
The maximum Educational Loan that is given by any Bank is Rs 20 Lacs with a collateral.
It is in the policy of the Banks not give an Educational Loan that is more than Rs 20 Lacs.
So you can take Rs 20 Lacs Educational Loan from the Bank and you will have to manage the rest of the money from some other source as their is no other option for you.

I am extremely sorry to state that you cannot get an education loan of 30 lakhs in order to study abroad. This is because this amount is beyond the education loan limit which the bank can offer as education loan. The limit for education loan for study in India is 10 lakhs while that in abroad is 20 lakhs. Hence you can take education loan of 20 lakhs for study in abroad.