Education and Career Forum

Hello, if I get education loan for studying MBA course in Australia and get job there then how can I repay? Actually, I am ready to go Australia for my MBA course and they have told me that they will give me placement and I have applied for Education Loan of Rs. 20 Lacs from Bank of India. So, if I get job in Australia then how I pay my loan?

The repayment of education loan doesn't begin immediately.

They provide repayment holiday which is inclusive of study period plus a moratorium of one year or 6 months after getting the job whichever is earlier.

For repayment , make a 5 year plan , consider each EMI paid as an unloading exercise , the more you pay the lesser burden you bear.
Create targets for your saving so that you can meet the payment.

Put in a bit extra money along with every installment towards repayment.