Preeti Mehta was fiercely determined to do her MBA after she completed her graduation from SIES college in Mumbai. All of 20 years then, she was confident of scoring good grades in her MBA programme and knew that even if she took a study/education loan, she would be able to repay the same without too much of a trouble.
It is this confidence that helped her get a Rs 3 lakh loan from State Bank of [Get Quote] Saurashtra for a tenure of 5 years and an interest rate of 12.25 per cent on a reducing balance basis. She will start paying her first EMI of about Rs 12,000 six months after she completes her two-year, full-time MBA in marketing and finance from Indian Institute of Planning and Management, IIPM, in about a month's time.
"I was pretty confident of getting a good pay packet after the course," Preeti, now 23, told this correspondent in a telephone conversation from her home in Mumbai when asked how she plans to repay her loan.
Here, Preeti talks about her experience of taking a study loan to finance her MBA.
What prompted you to go for an education loan?
Actually, my parents did not have enough money to pay for my MBA programme. Also, being very self-dependent, I did not want them to share the financial burden of my higher education.
What was this education loan for?
After completing my B.Com (Bachelor of Commerce) I wanted to do an MBA in marketing and finance. I have taken a Rs 3 lakh loan at an interest rate of 9 per cent from State Bank of Sa
RE:MBA in FInance
by jaya govinda on Oct 19, 2007 06:59 PM
if i am doing loan for learning a mba course when repaying after one year how much money i must repay with interest per month? please reply to jayagovinda2008@rediffmail.com
What rediff wants to prove. I, myself taken loan 0f 6.5 lac to do m.b.a.. I am not doing m.b.a. from IIPM sure.By promoting IIPM rediff is loosing the credibility.Now i am not going to trust rediff anymore.BBYE
RE:it is a great achievement
by pallavi kumar on Oct 04, 2007 04:19 PM
anyone who wants to pursue higher education has determination and has to tk a bank loan! why promote IIPM through her???
First of all the title of the article itself is inappropriate......her MBA is not financed on her own but financed by the bank. Rs 3lacs is nothing. There are people who take Rs 20lacs mortgage loan for education abroad. What does rediff want to convey from this article.........Pls clarify.
chee!!!!!!!! what a STUPID SENSELESS article!! sheer waste of time. why does she advice others not to avail of student loans when she herself has taken one...hypocrite blatant advertistment for IIPM please raise your standards Rediff....it's going down
This post seems to be focusing more on IIPM then the gal and her achievements. She has done nothing much outstanding thing... I think IIPM has led this strategy by paying an amount ti rediff... Cheap way of marketing... rediff..ur r losing ur standard by this......people will stop believing if u post such foolish publicities...
