Getting easy financial help for MBA education loans
Studying MBA seems a costly affair especially in the highly inflating economy rate, rising educational costs, advanced amenities and the competitive edge in universities or institutes, foreign or national. Research says an ideal cost for pursuing MBA in India is around 30-50 and obviously if you’re planning to pursue abroad the costs goes double digit. This raises an alarming bell into the minds of parents and students who wish to fulfill their dream career but are often suppressed due to financial obstacles. The overall study costs extended by accommodation, living costs and array of fees right from GMAT application to getting graduated makes study graph look bigger enough to meet for parents. Here you need to also calculate the loss of earnings that the student has to sacrifice while studying for MBA.
Parents always try to provide best of the education facilities to children especially for higher studies in India or abroad. But providing education finance involves a focus and a lot of money to prepare for the future right from the cardinal. Thanks to the government and private finance firms who are vigilant enough and has taken concrete efforts for providing better education facilities to the youth of our nation. In order to make sure that no student is denied of pursuing higher education, various banks and private finance firms in India have come up with state-of-the-art facilities for Education loan scheme. So bank a suitable opportunity now and create own your world of successes by pursuing good and quality higher education in India or abroad.
Lets’ understand some of the ways to fund MBA programs and why choose Education loan.
To fund your MBA study, students can consider many funding options that are available. They can choose from options like scholarships for Indian students, traditional finances, property mortgages, or alternative subsidizations. But these options have to be thought and worked upon beforehand, as it can be time consuming process. Secondly, these finances medium have extremely high rate of interest, limited time to repayment and no flexible options to makes repayments.
But Education loan come an easy breather for millions of talented brains in India who wish to fly high in success skies. Today, many well-known banks and private finance firms in India and all over the world offer educational loans to students for higher studies. The amount of loan you would get depends upon the MBA program that you apply. For loans under Rs. 4 Lac do not require security deposits or margins while the ones from Rs. 4 Lac to Rs. 7.5 Lac need a third party guarantee (signature from parent or guardian). For study loan above 7.5 lac you need to have a collateral security along with third party guarantee.
Many times government banks do offer loans but don’t give entire amount of fees. Hence the candidates have to rely for the rest from family members and savings known as margin money. But some of the leading private finance firm offers student education loan at no margin money costs with interest rates as low as 12.75%. The processing fees are quite low generally 1-2% of the loan amount and differ by case to case basis. They design study loans without setting any cap on finance and provide 100% coverage of education costs, making such young talents of India free from unnecessary burdens and leaving them freely pursue their higher education and thereby carve the path of their successes in life.
Before taking Education loan you should assess the loan requirement. You should consider the Tuition Costs, Residential Costs (if you will be living separate from your parents) and prepare for any unexpected costs. Finance firms understand the priority of money on time especially for managing funds incase of higher studies abroad and therefore come up with offers like Fast-Track loans which speed up the admission process at the time of applying for a university.
While taking admission in foreign university students have to show sufficient proof of funds. Every student has its own set of problems such as getting a visa clearance, fund approvals, slow loan processing, incomplete finances etc. Some of the leading private finance firms have come up with unique and friendly solution for customers such as Pre-Visa Disbursement Loan, Pre-Admission Loan, Certificate of Availability of Funds, GRE score based loan, Bridge loan etc. which cater exclusively to students’ particular requirements and set them free from any form of obstacle in their road for career development.