#1  
4th November 2015, 03:22 AM
Unregistered
Guest
 
Posts: n/a

Whether Bank deducts some amount in Education Loan if a student died during the course?


Sir,
I have applied for Education Loan for my brotherís education. He was doing B.Tech but unfortunately he met with an accident and died. I have taken education loan of Rs. 5 Lacs for his B.Tech. My question is, as he completed her 1st semester then I have to pay all the sanctioned amount with interest or the bank will reduce the amount?





Related Questions:
  1. Bank deducts few amount in sanctioned education loan? Should I apply for an education loan above total expenses?
  2. Whether Bank incur Internship expenses if pursuing MBA through Education Loan?
  3. Is it possible to get the education loan if I am from a poor family?
  4. In case of CA course how bank will pay the loan amount directly to ICAI? Documents to be submitted to bank and ICAI?
  5. How much loan amount is allotted as per the tuition fees? Providing securities for that amount is neessary? -- [Most Discussed]
  6. List of Banks which offer Education Loan of Rs. 16 Lacs for Commercial Pilot Training?
  7. How much amount I will get in Bank Education Loan to study MS in UK? Interest rates charges against Education Loan?
  8. How much subsidy I will get if taken Education Loan of Rs. 3.4 Lacs?
  9. Whether the Bank will hand over the amount of Education Loan to me instead of college?
  10. Which Bank sponsor Education Loan of Rs. 8.5 Lacs to study in Newzealand if refused by SBI, Axis Bank, Vijaya Bank, UCO Bank and Bank of Baroda?
  11. Education loan procedure for BHM course? -- [Most Discussed]
  12. Can I apply for Education Loan for higher education if completed B.E. with Bank Education Loan?
  13. Maximum amount offered in Bank Education Loan to study MDS in Abroad?
  14. Whether a Bank offer Education Loan by evaluating property?
  15. Can I get Education Loan again to study in IIM if interest amount is still unpaid?
  16. Can I get Education Loan again to study in IIM if interest amount still unpaid?
  17. How can I get Bank Education Loan of Rs. 16 Lacs to study MS in UK? Can I repay Loan after getting job? Do I have to Mortgage the property to apply for Bank Education Loan?
  18. How can I claim for Education Loan amount if want to get transfer from college to study B.Tech?
  #2  
1st February 2018, 03:19 PM
Careerexpert
Senior Member+++++
 
Join Date: Dec 2013
Posts: 12,066
Default Re: Whether Bank deducts some amount in Education Loan if a student died during the course?

Quote:
Originally Posted by Unregistered View Post
Sir,
I have applied for Education Loan for my brotherís education. He was doing B.Tech but unfortunately he met with an accident and died. I have taken education loan of Rs. 5 Lacs for his B.Tech. My question is, as he completed her 1st semester then I have to pay all the sanctioned amount with interest or the bank will reduce the amount?

The Co-borrower has to pay the education loan if the student died during the course. Banks take a co-borrower or guarantor for education loans; they are responsible for repaying the loan. Co-borrower or guarantor can contact the bank in person regarding payment of education loan. There is also collateral security for an education loan of over Rs 7.5 Lakh in India. Co-borrower (usually parents) has to repay the loan in easy EMIs also. Co-borrower has to contact the bank branch for more details regarding this.
Do you have any question? or have anything to say?





Powered by vBulletin® Version 3.8.3
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
Search Engine Optimization by vBSEO 3.3.0
Please also check: