Education and Career Forum

I want to know that whether the colleges provide any help in securing loans for the course offered.
How long does it take to process and get in hand?
This loan if available can it be done in the college at the time of admission.
Or do we have to first pay and then after the loan is sanctioned the amount paid will be refunded by the bank.

With the advent of technology and rise in the demand of candidates having degrees of professional courses, many educational institutes have come to the forefront, thereby paving the way for employment and giving quality education. As a result the cost of education has increased considerably. Education loans have become the integral part of the modern day education whereby pursuing studies in institutes with great infrastructure and exposure has become easy.

Coming to your query, no, colleges do not provide any help in securing education loans. Most of the good colleges just provides the provision of meeting the personnel of various banks so that the talks and discussion regarding education loan can be done by the students and their parents easily.

For education loans, you need to contact the nearest bank from your residence and talk with the branch manager. Then you need to follow the instructions as laid by him/her to get your education loan sanctioned. The entire process will take atleast one week since the bank will authenticate the originality of the documents provided by you.

Yes, the loan can be done at the time of college admission and the bank will start paying the fees right from the admission time. Incase the loan sanctioning gets delayed, the bank will pay you the amount which you have paid to the institute from your pocket.

In India, loan approval is solely based on the merit of the student and the institution which needs to be AICTE approved. If your college is approved then loan approval will be easy. 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.