#1  
5th September 2014, 10:30 PM
Unregistered
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If a person joins Defence Services he is not required to repay Education Loan?


I have heard that if a person joins any Defence service like Army,Navy etc, then he is not required to repay the Edn.loan availled from a bank, please let me know if it is true.
Thanx




  #2  
23rd September 2014, 10:54 PM
ChakrabortyP
Senior Member++++
 
Join Date: Dec 2013
Posts: 2,098
Default Re: If a person joins Defence Services he is not required to repay Education Loan?

The concept of student loan forgiveness in exchange for your time does not exist in India. In the United States of America, volunteer organisations like AmeriCorps, Peace Corps, or Volunteers in Service to America (VISTA) do forgive seventy per cent of student loans. In India, loan approval and repay is solely based on the merit of the student. The institution needs to be AICTE approved. You have to repay the loan as per the terms and conditions. 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.
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