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  #1  
14th June 2016, 05:52 PM
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Does Bank put conditions regarding repayment capability on parents under Education Loan Policy?


Hello Sir, I really want to study MBBS, but I am getting admission through management quota. So, I have to apply Bank Education Loan. I just want to know that Bank put conditions on parents regarding repayment capability? Please clear my doubt.




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  #2  
15th June 2016, 09:35 PM
SudeepKumarSaha
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Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Does Bank put conditions regarding repayment capability on parents under Education Loan Policy?

Yes, banks will make the parents as co-borrower of the education loan. This means that the ownership of repayment of education loan lies not only on your head but also on your parent's head. If you are unable to repay the education loan, then your parents will be sent a notice from bank to start the repayment on your behalf since they are the co-borrowers.
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