Education Loan for MBA

Eligibility criteria of Education Loan for MBA

Students must evaluate several factors before signing the loan agreement. The eligibility criteria for an education loan for an MBA abroad are as follows

• Candidate must be an Indian citizen or resident
• Candidate must have obtained a place in an MBA programme at one of the participating universities
• Some banks have age limitations of 35 years, so it is best to double-check with the financial institution
• Additionally, criteria influencing the bank's choice to provide a study loan for MBA might include academic merit, MBA university repute, the collateral given, and the applicant's financial background

Expenses Covered in Education Loan

Always verify what other expenses, including tuition, you cover. There are numerous more things for which you must watch out. Nowadays, several student loans are available to pay for expenses besides tuition. Some of the costs paid are:

• Examination, laboratory fees, library
• Fee expected for college and hostel
• Purchase of books, instruments, equipment Travel expenses
• Caution deposit, refundable deposit, building fund
• Insurance premium for the student (if applicable)
• Other expenses like study tours, thesis, project work
• Purchase of laptop (if required for the course)

Note: Just Footnote for expenses.

Popular countries for abroad MBA course

How to get an Education loan for MBA

Steps to get Un-Secured Loan

• Step 1:Request a callback or fill out the common application form online to speak to your financial officer at FinForte
• Step 2:Give your loan requirements and profile details to your assigned financial officer, over a call
• Step 3:After your loan profile analysis, upload your documents on FinForet documents portal as per the documents checklist shared by your financial officer
• Step 4:You will be informed about the progress of your loan file at every step, if required you can contact your financial officer to take updates
• Step 5:Sign the necessary formalities and collect your loan sanction letter from the bank/ lender within 2-6 days of submitting the required documents as per documents checklist.

Steps to get Secured Loan

• Step 1:Request a callback or fill out the common loan application form to start your loan process with Finforte.
• Step 2:On receiving a callback from your assigned financial officer, give your loan requirement and co-applicant details.
• Step 3:As per your loan profile analysis, choose your lender from the lenders suggested by your financial officer, also ask for the documents checklist from them.
• Step 4:Upload your documents on the FinForte documents portal as per the documents checklist to start your loan process at the earliest
• Step 5:Collect your education loan sanction letter from your chosen lender within 15-20 days after signing the loan agreement documents.

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