Education and Career Forum

If only ranked in the entrance then only get loan from bank ?otherwise i could not get it at all?

Hello,
This is a myth that only if you get a rank you will get education loan from bank else not. Even you can get a loan if you do not have a rank. Believe me it is only a myth that the students who get a good rank in entrance examinations will only get a study loan.Getting a study loan mostly depends on the capacity of the guarantor or the lender only.

That means if the person receiving the loan amount has the capacity of repaying it back (the loan amount plus the interest) then he gets the loan with much ease.But if the bank doubts that the recipient may not be able to repay the loan amount within the stipulated time period then getting loan in that case becomes difficult. The guarantor takes the responsibility of repaying the loan in case the recipient is unable to pay the loan back in time. On this condition a person gets a loan may it be personal or educational loan. Always you need to provide the banks sufficient information about yourself and make them believe that you are capable of repaying the loan back.Only then you will be able to get a loan from the bank.

This credit business is developed only on trust and confide confidence basis only. In case of educational loan the banks check the talent of the student receiving the loan. Hence if you are a good student then you get the loan easily. but for average or poor students its a tough job unless they have a strong financial background.