Education and Career Forum

Hi Sir/Madam,
I would like to join B.Sc(Nautical Science) but the tuition fee is nearly Rs. 11 Lacs. I want apply an Education Loan in SBI. Kindly tell me that can I get full tuition fee in an Education Loan or less than that?

Yes, you can get an education loan from SBI of Rs.11 lacs which covers your tuition fee. To get an education loan of more than 7.5 lacs, Co-obligation of parents together with tangible collateral security of value equal to bank loan amount is required. You need to submit the collateral security documents along with admission letter, income proof, address proof, identity proof, study certificates, passport size photographs, etc.,. After submitting all the documents, your loan will be approved within 10-15 working days.

No, I am not sure of it, as banks don't generally sanction the total loan amount of any course to candidates. You should however, try to get as much loan nearest to your course fee as possible. But thinking to avail education loan that will cover the entire course fee, is quite uncertain.

You should however, contact the bank officials for detailed information on it.