15th April 2015, 07:01 PM
Posts: n/a

How can I apply for Education Loan if my parents are retired?

I have got admission in FT ranked Global B-School but I have required education loan which is not an easy task as my parents are retired and without their working I cannot get loan as guarantor. I cannot put unnecessary burden on them. Is there any way out?

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15th June 2015, 10:00 AM
Senior Member++++
Join Date: Mar 2015
Posts: 2,155
Default Re: How can I apply for Education Loan if my parents are retired?

You will be provided the Loan if you can show something that can work as a mortgage.
If you have any property that you can show to the Bank as a mortgage in case you cannot payback the Loan.
If you can provide this you will be provided the Loan otherwise the chances of you getting a Loan is very slim.
Since your parents are retired this is the only option that you have.
If you have someone you know working in the Banking Sector then there is a chance.
Otherwise there is no other option left for you but to take the Loan by showing a mortgage.
Do you have any question? or have anything to say?

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