Education and Career Forum

I am a btech persuing student (4year).i want to do ms in uk after my graduation.will i get bank loan before exam ?.iam from middleclass family ,i want money for gre exam fee ,passport,toefel exam fee and for coaching .owing to the above conditions ,i want money for different purposes.so plz help where i get financial support .

Yes, you can definitely get bank loan for studies abroad even in UK. However, you will not get any loan before admission or entrance exams. You need to show proof of your selection in the concerned university and also the proof of its recognition. You cannot GRE exam fee,Passport fee, TOEFL exam fee and for coaching. You can get loan only for education cost to pursue your study course. Education loan covers cost of tution fees, hostel and mess charges and institutional fees.

Moreover, you cannot take more than 20 lakhs as education loan for studies abroad. You should take personal loan if you want financial support for your preparation and examination fees. You can take scholarships from various private institutions like LIC,TATA,Sahu Jain Trust,etc. Some links are given below.

www.licindia.in/GJF_scholarship.htm‎
www.dorabjitatatrust.org/id/45/edited/‎
sahujaintrust.timesofindia.com/‎
www.iocl.com/Aboutus/Scholarships.aspx‎

If your course fee is between Rs 4 lakh to Rs 7.5 lakh, you need a guarantor who promises to pay the amount in case you fail to pay back the loan. You need documents like passport size photo, income proof/latest income tax return, six months bank account statements during the sanctioning. There is a government’s policy too. Recently, it has launched a scheme to provide full interest subsidy during the period of course and one year or six months after getting job. One can return the loans within the time frame.

If your course fee is between Rs 4 lakh to Rs 7.5 lakh, you need a guarantor who promises to pay the amount in case you fail to pay back the loan. You need documents like passport size photo, income proof/latest income tax return, six months bank account statements during the sanctioning. There is a government’s policy too. Recently, it has launched a scheme to provide full interest subsidy during the period of course and one year or six months after getting job. One can return the loans within the time frame.