Education and Career Forum

Hello, I am going Australia for my education for 2 years. The total cost of my course is Rs. 20 Lacs. I want to know that can I apply for education loan from many banks? It means that can I apply for Rs. 10 Lacs from one Bank and remaining Rs. 10 Lacs from other Bank? Is this possible.

Originally Posted by Unregistered

Hello, I am going Australia for my education for 2 years. The total cost of my course is Rs. 20 Lacs. I want to know that can I apply for education loan from many banks? It means that can I apply for Rs. 10 Lacs from one Bank and remaining Rs. 10 Lacs from other Bank? Is this possible.

No, it is not possible to apply for education loan from two different banks for the same course. Candidates can get a maximum of Rs 10 Lakhs for studies in India and Rs 20 Lakhs for studies in abroad. Banks directly pay the amount to the university, so it is not possible to apply for education loan from two different banks for the same course. Candidates have to provide necessary security for availing education loan in the form of third party guarantor or collateral security.