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Date : Mar 3, 2009

Question

sir, I have already secured admission in Florida Instsitute of Tech for undergrads in Eng.(Aerosp.) for my very good academic background.But the problem is the course fee which is Rs.40lakh.(10 per year).As my father died last year(he was a principal of a high school).Now it is a D/H case and taking time for the processing to get the job for mother. I can manage 8lakh from home and depending rest on Educational loan.Can i get loan of Rs.30 lakh for studying abroad in this critical position?If yes then where,which bank?please reply

Answer

You need to have a guarantor for the education loan to be sanctioned. If you fail or are incapable of repaying the student loan, the guarantor will have to clear the debt. Usually, most banks require the guarantor to have a net worth and/ or annual income equivalent or more than the education loan amount. For more

 

 

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