Its really difficult to get a loan thes days. due to lot of NPA's in banks
Non performing assest have become biggest liabilities of banks and they are refusign any fresh loan application. otherwise they are putting the app on hold for furhter apprval from higher authorities
A lot students have defaulted on their laons this year
i talked to one fellow that they had laoned some students in Australia 2 years back
and they are now not in a condition to repay back the loan after 6 months of graduation as they are without jobs in australia and hence, the authority for apprval of loan has moved to zonal office than the branch or regional office
still i m goin to Delhi University branch of SBI and ICICI today. i hope they will be more positive as they know the situation more pragmatically
2 comments:
Education loan consolidation has two options for student loan payment. One option is the deferment and the other is called forbearance. The deferment option provides you with a two year grace period. If you have serious financial problems, the forbearance option allows you to delay making payments for six months at a time.
These options are there in western countries, but in developing countries such as India, Education loan are treated similar to other portfolio of retail debt. Interestingly, retail loans are considered to be better for banks than Institutional loan, due to governance issues.
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