#1  
22nd August 2014, 03:20 AM
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What should I do if not getting Loan for pursuing MBA?


I am not getting loan for my studies of MBA hence, too much worried about it. MBA is my passion to complete at any cost. Please help me out at any cost.




  #2  
21st July 2015, 11:10 PM
joyshreenath
Senior Member++
 
Join Date: May 2012
Posts: 1,176
Default Re: What should I do if not getting Loan for pursuing MBA?

You should have mentioned the reasons for why you are not getting the educational loan. Then it would have been easier for me to give the restraining facts in your obtaining the loan from a particular bank. Generally bank give loans to people who pay that debt off.
Are you currently in a position where you cannot pay off the loan? Do you have members in your family with permanent jobs? Remember sometimes bank abhor give high amount of loans to people who are freelancers. Since if you don't have a permanent job, you will not be able to pay off the loan on time. At least bank needs the assurance that you are in a position, where you can pay a certain fixed amount every year to the bank. If the bank is not assured in this case, then the bank won't allow such transactions.
MBA as you know costs more than 10 lacs. So if the bank has to pay you 10 lacs or more at one go, it needs a hefty amount of proof of your family income. It needs to know whether or not you will be able to pay all the loan and its interest within the stipulated time.
Here nothing can be done. What you can do is, currently take up a job. Since you are a graduate, you will get a job of a decent monthly income. Make financial stability to a certain extent. Now apply for education loan for distance education MBA. These cost much less than regular MBA and will be easy for payment installments too.
Do you have any question? or have anything to say?



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