Education and Career Forum

Sir,
I have got Education Loan of a Rs. 4 Lacs for getting B.E. degree. I have finished my B.E. and working in a company. Due to family bad situation, I cannot able to pay interest itself. I am going to write CAT. If I get any of IIM then again I need education loan to study. For that too I have to go to bank for education loan. So my question is can I get education loan in this case?

Yes, you can definitely get education loan to study your MBA course in IIM even though you had not repaid your previous education loan. This is because :-

- IIMs are one of the best institutes in the country which gives tremendous exposure and banks are quite eager to offer education loan to students of IIMs.
- The previous education loan amount is not high as per bank.

However, it will be difficult to get education loan again if you try to get admission in some other institutes for MBA course. At that time, it will be at the banks discretion to decide and in most cases it rejects if the institution is not highly reputed and offers good placement opportunities.