Education and Career Forum

My son has got aggregate 52% marks in 12th and willing to pursue degree course. When I approached to State Bank of Maharashtra Manager he said we can not give education loan because his marks is below 60%. What should I do if really need education loan?

No particular percentage criteria in 12th standard is required to get an education loan. Candidates who have secured admission in any course in a recognised college/ university are eligible to apply for an education loan. But, there are some banks which may ask for at least 60% aggregate marks in the qualifying examination, so, I suggest you to approach any other bank which doesn't ask any minimum aggregate for offering an education loan.

Originally Posted by Unregistered

My son has got aggregate 52% marks in 12th and willing to pursue degree course. When I approached to State Bank of Maharashtra Manager he said we can not give education loan because his marks is below 60%. What should I do if really need education loan?

Actually, there are no minimum marks criteria for education loan from Bank of Maharashtra or any other banks. The important things for getting education loans from Bank of Maharashtra are the college / university student got admission and the course. If a student got admission in a reputed college in a good course, then the chances of getting an education loan is higher. Students have to apply for education loans with the documents mentioned in the application form. They have to provide a third party guarantee and or collateral security, as per the norms, to get an education loan. Bank of Maharashtra website link is given Click Here