Education and Career Forum

Hello,
My daughter has availed an Education Loan for Rs. 7.50 Lacs. Now she needs to study 1 more year for her UG course to be completed. Can she avail an extension for nearly Rs. 10 Lacs? She is in Canada and pursuing her course there.

Yes, it is possible to extend education loan amount to study one more year in Canada. However, this provision is purely at the discretion of the concerned bank from which you/your daughter has taken education loan. The bank allows in genuine cases where they will check the performance of your daughter and reputation of the institute concerned and then they will sanction your request to extend the education loan. You need to talk to the branch manager of the bank from which you opted for education loan concerning this matter to know the details and needful to be done.

Originally Posted by Unregistered

Hello,
My daughter has availed an Education Loan for Rs. 7.50 Lacs. Now she needs to study 1 more year for her UG course to be completed. Can she avail an extension for nearly Rs. 10 Lacs? She is in Canada and pursuing her course there.

Yes, banks provide extension of loan period as well as amount under certain genuine cases. For availing this scheme you must provide genuine evidence for the gap reason as well as the university statements regarding the extension of UG course which may be obtained from the respective college. The interest rate may vary but if reason is found genuine you could get it.