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  #1  
1st November 2016, 02:55 PM
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Should I have to pay the loan amount for decades under Education Loan scheme?


I want to apply for Bank Education Loan for doing MS in Abroad. But my brother is denying to apply an Education Loan. The reason is, the loan can last for decades means I have to pay the loan amounts many years. Is it true? Please reply to me immediately.




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  #2  
3rd November 2016, 08:28 AM
SudeepKumarSaha
Senior Member+++++
  
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: Should I have to pay the loan amount for decades under Education Loan scheme?

No, it is bot true that you nees to repay the loan for decades. Everything depends on the amount of loan you are taking and the time frame in which you want to repay. The repayment period can be decided by you. You can repay the loan within 1 year or 3 years or 5 years or 7 years or 10 years as per your convenience.
Do you have any question? or have anything to say?



« Should I have to repay loan amount just after 4 years if going to complete B.Tech in 5 years? | Interest rate charges under State Bank of Patiala Education Loan for MS course in Abroad? Eligibility to apply? »

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