Education and Career Forum

Hello,
I have taken an Education Loan for my younger brother but the Bank has offered Education Loan for only first year of the B.Tech course. Now I would like to pay-off the Education Loan and apply for new Education Loan of upto Rs. 3.5 Lacs. Please let me know the possibility and procedure for the same. Thank you!

No, you can not apply for new educational loan. The main reason for this is that for applying the educational loan you need to submit the admission certificate. You have already submitted it when you took the first loan from the bank.

**In my opinion you have to go to the bank in which you have already taken the educational loan and ask to increase the sanctioned loan amount. This will be done if you show the fee details of the college to the bank and request them to increase the loan amount.

**Visit to the bank branch, write an application regarding to increase the loan amount and submit it with the Xerox copy of the fee details of the college for B.Tech course. After validating from the bank official your loan amount will be increased.