Education and Career Forum

Hello Sir,
I have completed my B.Sc and I want to study MS in Public Health in Abroad. My father is a PSU Officer earning Rs. 8.2 Lacs per annum. I want him to become a guarantor of my Education Loan. But I have been denied loan informally by the State Bank employees on this ground. Is this the right ground for rejection?

Yes, the bank has taken the right decision. This is because your father cannot be a guarantor. As per bank norms and terms and conditions of education loan, your father should be the co-borrower of the education loan and there should be a third party guarantor who must have a stable source of income. The third party guarantor cannot be your legal guardian. You can reapply for loan after getting a third party guarantor.