Education and Career Forum
Ask a Question Discussions Question PapersGovernment Jobs Ask a Question Papers Login Register
  #1  
28th June 2016, 04:30 PM
Unregistered
Guest
  
Posts: n/a

Is it possible to convert a Personal Loan to an Education Loan?


Hi,
My daughter want to take an Education Loan for her MBBS Degree. I am getting personal loan but not eligible for Education Loan as said by Bank. I just want to confirm that I can take Personal Loan and convert this Loan to Education Loan? Is it possible?




Related Questions:
  1. A B.Tech student who have already taken an education loan can take another loan for personal use?
  2. Possibility to get an education loan if already have taken personal loan? Terms and condition for it? -- [New]
  3. Is there any problem to apply for an Education Loan for a Personal Loan taker?
  4. Should I take Personal Loan of Rs. 5 Lacs if Education Loan is approved but gettign delayed?
  5. Is it difficult to get Education Loan to study MBA in India for a candidate who has taken Personal Loan?
  6. Whether Bank provides education loan to a candidate whose father has taken Personal Loan?
  7. Possibility to study B.Tech with Personal Loan if fail to achieve Bank Education Loan?
  8. Can I get Education Loan to study in India if holding a Personal Loan and Credit Cards?
  9. Possibility to change Personal Loan into Education Loan if applied in SBI to study B.Tech? -- [Most Discussed]
  10. Should I apply for Personal Loan to study MBA if pursuing B.Tech through Education Loan?
  11. Can I get an Education Loan again to study M.E. if completed B.E. with an Education Loan?
  12. Should I apply for a Personal Loan of Rs. 1.75 Lacs to study MBA if already pre-approved Education Loan of the remaining amount?
  13. Am I eligible to apply for Education Loan of Rs. 2 Lacs to deposit admission fee if already applied through college? Should I take Personal Loan?
  14. Detailed information about Education Loan Consolidation for PGDM aspirant?
  15. Detailed information about Education Loan Consolidation for PGDM aspirant?
  16. Can I apply for Education Loan for higher education if completed B.E. with Bank Education Loan? -- [Most Discussed]
  17. Possibility to apply for an education loan in security of PF account?
  18. Should I have to pay the loan amount for decades under Education Loan scheme?
  #2  
29th June 2016, 11:09 PM
aashisranjan784
Senior Member+++++
  
Join Date: Sep 2012
Posts: 8,627
Default Re: Is it possible to convert a Personal Loan to an Education Loan?

No, not at all, the scheme of a personal loan and education loan is totally different. You can not convert a personal loan into an Education loan. If you are getting personal loan then it is good, take the loan and fund education of your daughter with help of that money.

It is more beneficial as interest rate charged on personal loan is sometimes slightly lower than that of Education loan.
Do you have any question? or have anything to say?



« How can I get an Education Loan of Rs. 14 Lacs to study BS(Engineering) in UK without any property and IT File? | How many months of EMI to pay against Rs. 8.7 Lacs Loan in State Bank of Bikaner & Jaipur? How much EMI to pay? »

Related Topics:

Thread Replies Last Post
How should I apply for CBSE scholarship after scoring 83.4%? Is it true that I wont be able to apply for any other scholarship after applying for the CBSE scholarship? 29 10th September 2017 11:00 PM


Ask a Question - Contact Us - Entrance Exams - Privacy Policy - Archive - Top

Powered by vBulletin® Version 3.8.3
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Search Engine Optimization by vBSEO 3.3.0
Please also check: