Educational Loans: Banks To Assess Employability & Earning Potential Of Students

According to guidelines specified by Indian Banks Association (IBA) banks will assess ‘student’s employability and earning potential’ post their study before sanctioning educational loan. Students who have secured admission to professional/technical courses in India or abroad through an entrance test/merit based selection process will take a higher chance of getting an educational loan. Increased default … Read moreEducational Loans: Banks To Assess Employability & Earning Potential Of Students

PAN Card Mandated For Educational Loans

Those of you planning to apply for educational loans don’t approach banks without pan card. It wasn’t compulsory before for students to have a pan card to apply for educational loans, increased default rate has forced banks to take such measures. By mandating pan card banks can track the defaulter using the pan number. To … Read morePAN Card Mandated For Educational Loans

Indian Banks Association Tightens Screws For Education Loans

As per a report the apex body of Banks The Indian Banks Association (IBA) will tighten the screws for Educational Loans. IBA has advised banks not to consider offering educational loans for applicants who gain admission through Management quota. The move from IBA is to help the Non Performing Assets (NPA) come down; Banks term … Read moreIndian Banks Association Tightens Screws For Education Loans

Tribal Education Loan Scheme

The National Scheduled Tribes Finance and Development Corporation (NSTFDC) has launched an Education Loan Scheme for students belonging to scheduled Tribes in the country in the month of November, 2011. The requirement for availing benefits of the scheme are that the annual family income of the Scheduled Tribe candidate shall be upto double the poverty … Read moreTribal Education Loan Scheme

Banks to Revamp Student Education Loan Policies

Following the recommendations from Indian Banks Association (IBA), Indian public sector banks will consider revamping the education loan policies. The major constraints earlier had was 1) Education loan was assured only to one member of the family and 2) Shorter repayment tenure (5 to 7 years). The problem with the above two constraints is if … Read moreBanks to Revamp Student Education Loan Policies