It's a very well written article and an eye-opener indeed. Although I have read it only today, I'm glad that you chose to write about something like this before it was too late.
As another person in the student pool looking for a loan for higher education, I will need to gather 2 lacs for good equipments apart from the 4.5 lacs for the college fees (for a Film making course). Therefore I will have to apply for loans of up to 6.5 lacs.
How does a person access such a facility when to pay back that loan they must shell out almost 50% more than what they borrowed for a degree form an institute of repute?
It does seem that the RBI deems it more relevant to promote the affordability of luxury goods rather than a credibly educated society. I wish that the RBI would re-look and re-think the repayment rates and methods, thereby making it more user-friendly and accessible. I also urge them to note that an educated society which makes informed decisions takes the economy further than one which is needlessly spendthrift.
It's a very well written article and an eye-opener indeed. Although I have read it only today, I'm glad that you chose to write about something like this before it was too late.
As another person in the student pool looking for a loan for higher education, I will need to gather 2 lacs for good equipments apart from the 4.5 lacs for the college fees (for a Film making course). Therefore I will have to apply for loans of up to 6.5 lacs.
How does a person access such a facility when to pay back that loan they must shell out almost 50% more than what they borrowed for a degree form an institute of repute?
It does seem that the RBI deems it more relevant to promote the affordability of luxury goods rather than a credibly educated society. I wish that the RBI would re-look and re-think the repayment rates and methods, thereby making it more user-friendly and accessible. I also urge them to note that an educated society which makes informed decisions takes the economy further than one which is needlessly spendthrift.
It's a very well written article and an eye-opener indeed. Although I have read it only today, I'm glad that you chose to write about something like this before it was too late.
As another person in the student pool looking for a loan for higher education, I will need to gather 2 lacs for good equipments apart from the 4.5 lacs for the college fees (for a Film making course). Therefore I will have to apply for loans of up to 6.5 lacs.
How does a person access such a facility when to pay back that loan they must shell out almost 50% more than what they borrowed for a degree form an institute of repute?
It does seem that the RBI deems it more relevant to promote the affordability of luxury goods rather than a credibly educated society. I wish that the RBI would re-look and re-think the repayment rates and methods, thereby making it more user-friendly and accessible. I also urge them to note that an educated society which makes informed decisions takes the economy further than one which is needlessly spendthrift.
I have read your article today. You have given a very good information and facts about edu. loans. I am also planning to do MBA after my grad. I will defenetely take care of the fact before choosing an Institute and Payment of fees through Ed. Loan.
Dear Rashmi, While considering the option of a Bank Loan from US, you have not mentioned a very important point; that the co-applicant or co-signer should be US citizen, or else every indian would apply for a loan in US.
RE:What about pre-requisites of loans from US
by sachin on Feb 19, 2006 07:35 AM Permalink
Hi Amol, Do you have any IDEA how much Loan One can Expect for Studying MBA at a top 10 US B-School... Is there any possibility of Getting 100% Loan..
For some countries, who offer a work permit or residence permit after the studies, its worth it.
But these countries offer it only in certain areas (Sciences/Nursing etc) or after a certain level (Master/PHD). So its makes sense to evaluate one's capacity before joining such courses. There is no test to check your aptitude etc. before joining foreign universities on self financed courses.
In such cases, the entire loan amount can be paid off in one year itself (for a two year PG course)
That was a brilliant job Rashmi. I have done my MBA from a top B-School in Australia and am now burning in repayment hell. I am lucky to get a job in UK but it may not be the case with all others. Students need to make a financial forecast and be ready before they get into it.
