With education loan for MBA, it’s never too late for the degree

After completing his B.Tech, Pradeep joined one of the renowned multinational companies, which gave him a handsome package. After working for years he realized that to reach the boardroom he needs MBA in his resume. Owing to the existing myths in the market and less savings, he kept on postponing the plan of pursuing the degree. And now he thinks that he is too old to start an education program again. But one of his school friends changed his perception. He told him about the educational loan, which forced him to visit the aggregator site to know about the existing lenders & their terms & conditions.
The myths that were holding back Pradeep, from pursuing the degree are as follows:
·        Getting an education loan involve pages of documentation and verification.
·        The borrower has to pay around 20% of the course fee as margin money.
·        Once you take the loan from schadenfreude lenders, it is a burden for life time.
·        The interest rates are much higher, beyond the affordable limit. Increasing the cost of EMIs.
·        Only talented students up to certain age group can take the study loan.
In this article we will bust the aforesaid myths and will prove you that, schadenfreude lenders no more exist in this market. The first concern of Pradeep was of getting a loan at the age of 32years; let’s update you with the fact, that financers in the present market are providing executive education loans, especially tailored for the candidates like Pradeep who want to pursue the course in between the career. Education loans for MBA is a part of such study loan. So whether you are 24 or 34years, lenders have an education loan for your MBA course program.
You can apply online and submit the required documents to the employee of the concerned financer who visits your home to collect the documents. So hassles of documentation are also eased. To be on the safer side visit the office of the lender personally and get your queries cleared, like Pradeep did before applying for the education loan.
The study loan covers the course fees, other study expenses & accommodation cost, in case of abroad studies it includes portion of the travel fare. We have a premonition that we have to arrange the margin money for getting the loan; let’s inform you that this scenario no longer exists. Many financers are there in the market that provides 100% of the course fee making it easier for the borrower to commence the course program easily.
Now about the rate of interest, which used to be higher earlier, making it difficult to get the study loan & continue the debt tenure for the aspirants; have come down satisfactorily. The lowering rates are making the study loans easier to get. They are floating in nature and fluctuate depending on the government policies & market conditions. The lenders give a long term of around ten years to repay the debt, lowering the EMIs and making the cost easier to the pockets of the borrower. The lenders now provide flexible repayment options and a moratorium period to make the repayment easier.
You don’t have to be a scholar to get the education loan , all you need an admission letter from the concerned institute & loan eligibility to get the loan amount disbursed.
After getting all his misconceptions cleared, Pradeep applied for the education loan after getting the admission letter from an MBA institute. The amount was disbursed within a week.