Education and Career Forum

Dear Sir/Madam,
If I get stipend for doing MS in Abroad then also I can apply for Education Loan? Kindly clarify my issues. I want to apply for MS and for this I want to get Education Loan for study in Abroad. So, I can?

Yes, you can definitely apply for education loan and get it sanctioned even though you get stipend in abroad. There is no problem if you have an additional income source. The bank will fund for the study expense. However, the bank might ask for the information if you are doing any part time work or getting stipend/scholarship. You can inform the bank of the same or can hide it as this norm is not taken into consideration with high importance and is not closely monitored.

If you are getting a Full Scholarship where in all your tuition expenses are covered then you will not be eligible to apply for an Educational Loan.
If your stipend does not cover the entire tuition fees then you can get a Educational Loan for the remainder of the Tuition fees if you can show a guarantor for the Loan that you are applying for.
If your entire tuition fees is covered then you can apply for a Personal Loan if you are in need to money for your own expenses during your stay Abroad.