What amount can I get as education loan if the college fee is 8 lakhs?

Education loans are provided by NBFC & banks .The quantum could be linked to multiple factors like :academic record of student, reputation of course & institute, guarantor norms, financial background of the candidate, interest rates, repayment capacity, job prospectus of the course .Usually the loan amount could be up-to 85 %.

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Today, loans for MBA courses are available with almost all major banks. Some banks also have tie-ups with some of the premier institutes, where they offer the students a special rate of interest which is normally lower than market rate of interest. Margin is the amount of money students are supposed to pay through his/her own pocket. A bank can either pay 100 per cent of the cost of education or a certain percentage of the total cost. Margin money is not covered by the bank for the payment of the essential and necessary fees.

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