Education and Career Forum

I'm doing engineering , & my education loan in SBI is sanctioned successfully ... for 2 semesters i also got fee drafts ... but now in 3rd sem , when i given the application to the bank the officer says that "you have backlog in previous sem (i have one in 1st sem) so you cannot get next sem fee until you clear all backlogs & you must arrange fees yourself " ... & i just shocked ..... then why i taken the education loan , if can arrange the fees myself ...... is SBI have such backlog rule ? ..what should i do ?

Your condition is understandable but there are certain terms and conditions behind every loan which should be studied properly before taking loan from any bank. Similarly education loans also have various terms and conditions, some of which are same for all the banks and some differ from bank to bank.

There is a specific condition stated in the document of education loan of every bank which is to be signed before the bank sanctions one’s loan. The condition is that the bank has the power of discretion to withdraw the education loan at any point of time and discontinue providing financial assistance to the concerned customer if his/her performance is found to be unsatisfactory or not up to the standards expected by the bank.

Since you have got a backlog which reflects that your performance is not satisfactory as per the bank’s standards, hence the bank has decided to not reimburse any loan amount further until you clear the backlog. As you had taken education loan, so you should have been a bit more cautious and serious regarding your studies because the bank is going to monitor your performance all the time.

Hence you cannot blame totally on the bank. This is because you are not doing justice with the financial help provided to you and have taken it for granted. There is no other option before you right now apart from studying well and clearing your backlog with good grades as soon as possible. For the time being, you need to arrange your college fees otherwise you might be fined for late fees. If you are financially weak and unable to do the arrangements, then you should write an application to the college authority requesting them to bear with you and grant you to give fees later without fine.
However, you need to get serious from now on regarding your academics. Backlogs are not at all accepted by the recruiting companies also. Hence you should make it a point to work hard and be dedicated to your academics and perform well in it. Make it a point to prove others that the hope and financial help given to you is not a waste of time and money.

Our best wishes are with you.

You are eligible for the education loan if you wish to pursue any degree approved by AICTE. You need to clear your backlogs because the loan is approved on the basis of the marks scored in previous semesters. Spanning from graduate, postgraduate and doctoral level programs in India, students can get loans. If your course fee is between Rs 4 lakh to Rs 7.5 lakh, you need a guarantor who promises to pay the amount in case you fail to pay back the loan. You need documents like passport size photo, income proof/latest income tax return during the sanctioning.

Hi sir,I have completed my b.pharm from Gujarat technological university and applied for an education loan in SBI but I had backlogs in my previous semesters which I have cleared but the bank has queried about the backlogs .please help me how to deal with the situation as I have cleared my b.pharm with distinction (cgpa--7.19) and I also cleared the entrance exams for it.ALSO I wish to go abroad I have a very good score in ielts exams (7.5 bands). Please help me out about the explanations I can give to the bank. Please reply fast thank you..

No, That person is misleading you, it is absolute wrong there is no such rule with bank that you cannot continue getting your student loan with a reason of backlog, it will continue to be until and unless you are detained from the college.

I Have Taken Loan From SBI Bank.I.E 2 Lakhs For Four Year For Pursuing Engg.In 1st Year Due To Some Problem.I Got My Result As Year Back.Next Year I Cleared My All Back Logs.Now Can I Get Further Loan For 2nd Year Studies.Pls Help Me In This Regard!

I have got backlogged in 3 subjects in be and I m also study with education loan sow hat do I do .Do they continue my loan or not continue my loan?

Can I get an education loan when I'm in the 4th semester of engineering?

I had taken education loan for my studies and if i am detained from the college then can i get fees for the next semester?
The loan will be continued after clearing all subjects or not?