#1
31st December 2015, 01:05 PM
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Why to maintain huge formalities for Bank Education Loan? Is it possible to get it soon?
Hello,
I went to Bank for an Education Loan and they have given me huge condition and I have to maintain huge formalities. And my elder brother has taken a personal loan from the same Bank which he was getting within 15 days. How this can be possible? Why they have huge formalities to maintain for an Education Loan? |
#2
31st December 2015, 08:56 PM
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The reasons of many formalities in case of education loan are given below.
1. They are giving education loan to a non-employee who do not have any income. 2. There are many unrecognized/fake degree providing institutes. 3. CO-borrowers and third party guarantors have to be involved for proper guarantee of repayment. 4. Your future prospects of job depends a lot on your performance in the concerned course and on the exposure of the concerned institute. |
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