You certainly have not done your homework mister! The university Bivde was studying at re-payed the loan amount. Guess such articles are meant to finance insurance dalals like you!!!
There is presently no insurance available against the educational loan. what you can do is to insure yourself and in case of your death the money can be utilized to pay off the loan. This is simple life insurance and bears no connection with educational loan. There are no insurance for educational loan which covers situations like disability acquired during the course / meltdown like 2008 and no jobs! ICICI lombard insurance is pure overseas mediclaim policy, also covering the parents air fare and travel back to india in medical emergency, provided you take the highest premium paying policy.
The banks would gladly lend to kingfisher and other corporates with almost no collateral at sub base rates, while the students despite providing collateral for the loan, get saddled with interest rates as high as 14-16%, over and above the surge in the forex rates! We have our priorities wrong! Education was never a priority with the government and thus many aspiring and talented students forgo good courses, for want of cheaper credit / loans.
Re: Why dont you research well?
by kaka kishacha on Jan 13, 2012 02:24 PM
Banks should consider this seriously, since there's almost zero% NPA ie default in payments in this category. At the most some loans might have been dealyed due to Global crisis, but loan recovery is complete.
Re: Re: Why dont you research well?
by lama rao on Jan 13, 2012 08:35 PM
yes! I endorse it. Banks should consider giving loans even to mid term professionals who want to go abroad to enhance their professional schools, research etc.
