“I am sorry. The rate of interest has been increased, so you have to pay a higher EMI”, the disinterested branch manager of the NBFC told a student who had taken an education loan in Fall 2017.
This was the third time in the last two years that the NBFCs had increased the rate of interest on education loans, totaling up to a hike of 3% (12% became 15% in a matter of 2 years).
The above is a common scenario for many students who opt for an education loan with a floating rate of interest, especially from NBFCs. If you are a student who wishes to take an education loan but is unaware of how the rate of interest changes, then you should definitely read this blog before making any decision.
Are loans offered, if I don’t have any co-applicants, but have an excellent academic record right from my school, and working experience of 2 years related to the course of study?
• Can I apply for additional personal loan, if the sanctioned loan amount is not sufficient? (kindly answer this question in the light of unsecured education loans)
• Suppose I got my loan sanctioned but did not get visa, then what? ( Ofcourse college will refund the tution fees, that I have paid, but will bank charge me any extra amount / ask me to pay further interests) [kindly answer this question in the light of unsecured education loans]
• As CIBIL score is very much important for getting unsecured education loans, What will be my CIBIL score, If my credit card is new one / If my bank account is new one
Are loans offered, if I don’t have any co-applicants, but have an excellent academic record right from my school, and working experience of 2 years related to the course of study?
[/quote]Hello sir,
Are loans offered, if I don’t have any co-applicants, but have an excellent academic record right from my school, and working experience of 2 years related to the course of study?
• What all costs does an unsecured education loan include? ( will it include Living costs, GIC, Travel expenses, additional fees demanded by colleges apart from tuition fees)