Education and Career Forum

Sir,
I am Satish from Chennai. I am an Orphan. I have done my Graduation with scholarship and doing part time job. Now I want to study MBA. So, tell me how will I get Education Loan for my MBA in India which fees cost around Rs. 6.5 Lacs. I have no guarantor. So, how I will get Education Loan?

It will be difficult for you to get education loan since there are no co-borrowers. However, you can take help of your relatives or guardians by asking them to be co-borrower and take the education loan. If still there is no one, then you need to approach the bank on your own for the education loan. The bank will assess your income and your property and then it will decide about sanctioning of loan to you. So approach any bank close to your residence where you have an account. Have a discussion with the branch manager concerning the loan and your problem. Make sure you take the proofs of your property and income tax certificate along with you. Also take the prospectus and admission letter of the concerned institute where you are seeking admission for MBA course. Since the loan is not higher than 7.5 lakhs, so it is expected that the bank will sanction your loan request. Act as per the instructions of the bank to get your loan sanctioned.