Education and Career Forum

I dint return loan for BE yet,is this possible to get loan for M.E. in such condition? can i get loan for M.E? Is it not that i don't want to return but sis not got job yet?

In normal case, you cannot get an education loan unless the previous loan is repaid. Once you take an education loan, your name will be notified in the list of Reserve Bank Of India for education loanee which all banks under Reserve Bank of India can access. Hence, if you go to any bank for loan again, they will cross check it and reject your loan request.

However, in exceptional case the bank will give you loan. The exceptional cases are as follows :-
-You get admission in the top colleges or universities like the top IITs or IIMs. You should keep in mind that it is for only the top ranking IITs and IIMs and not all of them.
-If your parent/guardian is an employee of the bank.
-If any of a good position holding employee of the bank is ready to be a third party guarantor.
-If the loan amount which is pending to be repaid is of very small amount (preferably below 4 lakhs) and the economic condition of the family is good. Third party guarantor and mortgage (if more than 7.5 lakhs) is needed in this case.

WITHOUT PAY THE B.E LOAN WE ARE NOT ABLE TO GET ANY LOAN FOR M.E?

You are eligible for the education loan if you wish to pursue M.E. You have to apply for the loan but you may face problems in getting a new loan without clearing the existing one. You need to visit the nearest bank branch where you and family members hold accounts. Your merit score will decide the sanctioning part as bank officials check the borrower’s credibility. Spanning from graduate, postgraduate and doctoral level programs in India, students can get loans. There are a lot of help for the under developed segment of the society from the Government of India.