9th June 2014, 05:57 PM
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Is it necessary for a college to be AICTE Approved to take education loan?

Is it necessary for a college to be AICTE Approved to take education loan?
I am a 1st year student of Hospitality and hotel administration course from "INSTITUTE OF HOTEL MANAGEMENT CATERING TECHNOLOGY & APPLIED NUTRITION ",HAJIPUR (BIHAR) which comes under gov.of india ,ministry of tourism & affliated with nchmct (noida) and Ignou(new delhi).

17th June 2014, 09:12 AM
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Location: India
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Default Re: Is it necessary for a college to be AICTE Approved to take education loan?

Yes, it is necessary for a college to be AICTE approved to take education loan. This is because if the college is not AICTE approved, then there is no guaranty of job or validity of the degree earned from that college as no organization will consider the degree certificate as valid. As a result, most of the banks gives importance to this criteria and offers loan to students pursuing courses in AICTE approved college.

However, you can get education loan from regional banks and the banks which have a tie-up with the institute. Regional banks near the institute will offer education loan if the institute offers good placement and exposure to its students.

Since you are undertaking hospitality and hotel administration course, there is no necessity for your college to be AICTE approved. This is because it comes under the Ministry of Tourism, so you need not worry. You can get education loan easily as your institute is recognized by Ministry of Tourism and affiliate to NCHMCT and IGNOU which are well recognized by competent authorities.
Do you have any question? or have anything to say?

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