dear sir i have got provisional admission at singhad business school(lonawala).i am staying at pune.i want a loan of 3lakhs as a fee for final admission,which is mentioned in a letter given by the institute.my parents are from bihar.so what is the procedure for getting the loan on less interest on easier terms and from which bank?the course is of two years duration.kindly reply me as earliest as possible.
I STIDENT OF PGDBM 2nd semester. I have paid the fees of frist year by cash. Now I want education loan. My city is Azamgarh (U.P). Can I get loan from in Ghaziabad (U.P.). Tell the brach also.
I would like to know the following details: 1) Can I take a personal loan in case of educational loans i.e can i take a loan without submitting any gaurantee ?
RE:Education loan for MBA
by Roshan Rathi on Mar 15, 2006 12:21 AM
Dear sir, I roshan rathi recieved a confirmation for PGDB(DUAL SPECIALISATION) from IIMM(pune).I need loan for 2.5lakhs and i am an indian citizen but my father is based and employed in NEPAL and we have no property in india but my uncle has..so kindly let me know what do i need to do and are there any foreign or private where i can approach in kolkata..kindly send me the reply in e-mail id at the earliest..thank you.
Thank you very much for the detailed, clear-cut explanation on the education loan tax benefit. I am one of the beneficiaries of tax exemption on the repayment of the education loan. Do you foresee any changes in the tax structure in the next financial year budget?
Regarding the tax benefit for the repayment of education loan, it was very clear that for the financila year only the interest amount will be eligible for benefit and not the principle amount.
But only few days back I got the info from my companys finance dept that they will still be considering the principle amount for benefit. Kindly let me know how true is this.
Because we have now two information and it is confusing as to which one is correct.
I am working in a company and i took an education loan to do a executive MBA from IIM Calcutta thru the Satelite mode of classes. This is not a correspondence course nor a regular course .
Can you confirm if i can claim tax benefit for such a education loan
i have got admission in IIPM, Delhi and i want loan of 3.5 lacs but when i approached SBI in sikkim they said that the course has to be recognized by either the AICTE or UCG and also i was said that the interest amount is to be paid every month till the completion of my course from the date my loan is disbursed and the principal amount has to be paid in 84 months after the completion if the course. please help me if i can get a loan from any bank which doesnot look for AICTE/UCG approval(or is it that only students enrolling in the recognized collge gets loan) and i dont have to pay theinterest amount when i'm studying rather ill pay the interest+principal once i finish my course.
Information on Education Loan provided by you is very informative and very useful to everyone. My suggession is to provide details of Rate of Interest, Government Subsidy and is it necessary to make interest payment during the study period.
With ref to above, some banks may ask for insurance hypothication in the name of the bank instead of any guarantees. You may be asked to submit proves of the premium paid annually. Also banks may reduce your interest rates if you pay the interest without defaulting. Tax angle of the above is that the interest paid on education loan have tax benefits.
