Myriad job options, illustrious future and heavy pay-packet lie ahead. If one has the capability and cleared the admission test, don’t let the financial issues become a thorn in the path. MBA degree has become the need of the hour. One nolonger has to depend on the savings’ of their parents or ask for the favors from their relatives or friends to pay the mammoth amount for the course expenditure. The Education Loan For Mba from the banking and non-banking organizations gives the eligible candidates self-satisfaction of independence and provides a hassle free, financially secured completion of the course.
It is suggested that the decision of taking the loan should be planned well in advance to have the disbursement of the amount in time. There has been a sharp rise in the number of defaults along with an increase in lending, over years. The default spoils the credit score of both the student and their parents (usually the co-borrower). If Equated Monthly Installments or, EMIs are overdue for 90 days, the bank classifies loan as a non-performing asset. The collateral will be at risk also. It is advisable to start repaying the loan as early as possible.
Pursuing MBA is expensive, especially if one is pursuing the degree from a premium institute or overseas universities/institutes. Several repayment options ease the burden. The borrower must keep in mind that if the organizations are providing the quickest aid for a hassle free completion of the course for better career prospects, it is one’s responsibility to repay the amount in time. Some experts even suggest taking the loan amount in installments to lessen the interest rate.
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