What is the procedure of applying for education loan ?
I want to know whether if apply for education loan for my post graduate study the amount will be handed over to me or to the college as i have already paid the fees for the first year.\n\nAlso the fees for the course for two years is approximately Rs.90,000/- and i want to apply loan of Rs.1,50,000/... View More
Hi, Educational loans usually cover the costs of tuition fees, hostel fees, mess fee and examination fees. Some banks may also finance the cost of books, equipments and other instruments required by the student for that course. For studies abroad, banks may provide one way airfare. But this needs to be checked with each individual bank. Disbursement of the educational loan is made directly to the institute/ college to which you have applied for admission. In the case of mess and hostel charges, the relevant amounts are given to the concerned authorities. In the case of airfare, which is also available for studies overseas, the amount i
...more
Hi, Educational loans usually cover the costs of tuition fees, hostel fees, mess fee and examination fees. Some banks may also finance the cost of books, equipments and other instruments required by the student for that course. For studies abroad, banks may provide one way airfare. But this needs to be checked with each individual bank. Disbursement of the educational loan is made directly to the institute/ college to which you have applied for admission. In the case of mess and hostel charges, the relevant amounts are given to the concerned authorities. In the case of airfare, which is also available for studies overseas, the amount is given directly to the airlines. Some banks do give the students themselves a certain amount on a monthly or quarterly basis for purchasing books, equipments and other related material associated with the course. This again, depends on the discretion of the bank. Hope this piece of information is of some help. If you need further help or guidance, you could revert. All the best.
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Hi, Educational loans usually cover the costs of tuition fees, hostel fees, mess fee and examination fees. Some banks may also finance the cost of books, equipments and other instruments required by the student for that course. For studies abroad, banks may provide one way airfare. But this needs to be checked with each individual bank. Disbursement of the educational loan is made directly to the institute/ college to which you have applied for admission. In the case of mess and hostel charges, the relevant amounts are given to the concerned authorities. In the case of airfare, which is also available for studies overseas, the amount is given directly to the airlines. Some banks do give the students themselves a certain amount on a monthly or quarterly basis for purchasing books, equipments and other related material associated with the course. This again, depends on the discretion of the bank. Hope this piece of information is of some help. If you need further help or guidance, you could revert. All the best.
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Hi, Educational loans usually cover the costs of tuition fees, hostel fees, mess fee and examination fees. Some banks may also finance the cost of books, equipments and other instruments required by the student for that course. For studies abroad, banks may provide one way airfare. But this needs to be checked with each individual bank. Disbursement of the educational loan is made directly to the institute/ college to which you have applied for admission. In the case of mess and hostel charges, the relevant amounts are given to the concerned authorities. In the case of airfare, which is also available for studies overseas, the amount i...more