Education and Career Forum

Sir/Mam tell me that can i get loan for msc nursing as i already taken for bsc nursing too from the bank and did my studies but am not sure for msc as it's continuous study without job.

Your merit score in entrance test of Masters as well as graduation will decide upon the loan. You are eligible for the education loan if you wish to pursue the degree. You have to apply for the loan. 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.

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 AIIMS,JIPMER,CMC. You should keep in mind that it is for only the top ranking nursing institutes 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.

I am a poor father whose son is studying B.Sc Nursing, but unable to fund his education further more, because Banks are not providing loan. I am very much tensed, please help me.