Education and Career Forum

Hello Everyone,
I have got an Education Loan of Rs. 5 Lacs for B.Tech course.I have finished my B.Tech this year and working now. Due to some family problem, I am unable to pay interest. I am going to appear CAT. If I get any IIM, again I need money to study that. I have to go to Bank for an Education Loan. So, my question is, can I get an Education Loan in this case?

Yes, you can get education loan to pursue your higher studies in IIM even though you had taken education loan of 5 lakhs for B.Tech course. Since the education loan amount of not huge and IIM is one of the topmost institute in India, so the loan can be sanctioned once you comply with the terms and conditions and complete all formalities s per bank'instructions.

Yes, you can avail education loan to pursue MBA in IIM.

Before applying for an education loan to pursue MBA in IIM, one must have to clear all the previous loan which are in pending.

As you have pursued B.Tech through an education loan, you need to clear the B.Tech education loan before applying for another education loan to pursue MBA.

Education loan repayment starts after one of year of course completion or after getting the job. Therefore, you have to pay loan now to avail any further loan for education.

If you are getting admission in IIM then bank wouldn't deny you loan because it is one of the top management institution. Hence, first try to perform well in CAT.