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  #1  
10th May 2016, 01:32 PM
Unregistered
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Can I reapply for an Education Loan without repaying the previous one?


Hello Sir,
I have an Education Loan of Rs. 2.6 Lacs and I am doing Diploma course in Marine Engineering. I need more Rs. 4 Lacs to do B.Tech. Can I get Education Loan without paying the amount of previous one?




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  #2  
12th May 2016, 03:35 PM
palugulavenumadhav
Senior Member+++++
  
Join Date: Dec 2014
Location: Hyderabad
Posts: 3,103
Default Re: Can I reapply for an Education Loan without repaying the previous one?

No, you cannot avail education loan to pursue B.Tech course.

As you have availed an education loan of Rs.2.6 lacs to pursue Diploma course and without repaying the amount you cannot apply for another education loan.

Without being payed the previous loan amount one cannot avail another education loan.

The banks will no issue any education loan if the candidate has previous outstanding loans.
  #3  
12th May 2016, 06:49 PM
ajayrocks007
Senior Member+++++
  
Join Date: Mar 2012
Location: New Delhi
Posts: 20,581
Default Re: Can I reapply for an Education Loan without repaying the previous one?

If you are getting admission in a reputed B.Tech college then banks won't have any problem in providing you loan. Hence, try to get admission in a top college so that previous loan don't have any effect.

Also, you have to start repaying your old loan after completion of course with interest. Hence, if you start studying then you need to think about loan repayment along with the studies.
Do you have any question? or have anything to say?



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