#1  
21st April 2019, 04:19 PM
Unregistered
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Can I get Education Loan to study MS in Abroad if taken Personal Loan and maintaining Credit Card?


Hello friends, I am working under my family Business. I have taken personal loan which interest I am paying regularly without any delaying. I have also maintain a Credit Card. Now I am preparing for GRE and want to study MS in Abroad. My question is, I still eligible for education loan as I have mentioned my doubts above. So, I want to know about the chances.




  #2  
26th April 2019, 07:00 PM
ajayrocks007
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Join Date: Mar 2012
Location: New Delhi
Posts: 19,983
Default Re: Can I get Education Loan to study MS in Abroad if taken Personal Loan and maintaining Credit Card?

If you are paying all your due to the bank without any delay, then you have a very good chance of getting an education loan once you apply for it after admission, but it will depend on your guarantor also. You will need a person from your family to become the guarantor for your loan.

The person who becomes your guarantor must have a good flow of income and should have a good credit score. You may also have to provide collateral if the amount is big.




  #3  
28th April 2019, 04:06 PM
Incredible Chinnu
Senior Member
 
Join Date: Apr 2019
Posts: 759
Default Re: Can I get Education Loan to study MS in Abroad if taken Personal Loan and maintaining Credit Card?

Yes you can get educational loan even having those many loan but there should not be any kind of overdue in any kind of loan. First they will take out the CIBIL REPORT,from there you will be assessed in the sense of financial position. Based on the score and level of financial position they will conclude with one amount based on the fee structure of the college or university.

>> You need to make your parents as co applicant and guarantor.

>> Your father should submit Income Tax return for the past 2 years.

>> You should submit the GRE score card, from their bank officials will asses the rank of the college or university.

>> Based on their policy they can sanction the loan , rating of university or college.

>> Loan for education in Abroad means you need to show them the collateral security as well.




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