No Money for Education!!

[sojupatil]

I have recently completed my 12th grade from a tier-3 city in Maharashtra. Coming from a lower-middle-class family, I am facing financial challenges in paying for my college education. I plan to pursue a Bachelor of Computer Applications (BCA) with an annual fee of ₹80,000, but my parents' income is irregular, and they do not file Income Tax Returns (ITR). Additionally, my parents do not have a CIBIL score or any collateral to offer for a loan, although my CIBIL score is 781.

I secured a 90 percentile in my entrance exam, but I am struggling to decide whether to take an education loan to continue my studies or to start working instead. While my parents have some savings, I am reluctant to use all of their resources for my education.

I have explored a few platforms like Vidyalakshmi and Jansamarth to understand my options. However, when I approached Bank of Baroda, where I have a savings account, they questioned the basis on which they could grant me a loan.

Could you please guide me on whether there are any chances of getting an education loan in my situation, or if it would be more practical to consider starting work instead?

 

[arjungoyal12]

It might be difficult for you to get loan. I think there might several scholarships or government grant through which it might be possible for you to get a good education.

 

[Devine Soul]

There is availability of Post matric scholarship, check it if you are eligible for this, it might help you.

 

[MINAKSHI]

I have recently completed my 12th grade from a tier-3 city in Maharashtra. Coming from a lower-middle-class family, I am facing financial challenges in paying for my college education. I plan to pursue a Bachelor of Computer Applications (BCA) with an annual fee of ₹80,000, but my parents' income is irregular, and they do not file Income Tax Returns (ITR). Additionally, my parents do not have a CIBIL score or any collateral to offer for a loan, although my CIBIL score is 781.

I secured a 90 percentile in my entrance exam, but I am struggling to decide whether to take an education loan to continue my studies or to start working instead. While my parents have some savings, I am reluctant to use all of their resources for my education.

I have explored a few platforms like Vidyalakshmi and Jansamarth to understand my options. However, when I approached Bank of Baroda, where I have a savings account, they questioned the basis on which they could grant me a loan.

Could you please guide me on whether there are any chances of getting an education loan in my situation, or if it would be more practical to consider starting work instead?

Yes you can apply for education loan upto 7.5 lakh with no security.produce income certificate from employer of your father and present that to bank.Basis for your loan is your future salary that would be deduct as your Emi till completion of your studies bank will no charge you even a si gle penny . you are bright student pursue your further study.Bank will help . you can approch other PSU

I have recently completed my 12th grade from a tier-3 city in Maharashtra. Coming from a lower-middle-class family, I am facing financial challenges in paying for my college education. I plan to pursue a Bachelor of Computer Applications (BCA) with an annual fee of ₹80,000, but my parents' income is irregular, and they do not file Income Tax Returns (ITR). Additionally, my parents do not have a CIBIL score or any collateral to offer for a loan, although my CIBIL score is 781.

I secured a 90 percentile in my entrance exam, but I am struggling to decide whether to take an education loan to continue my studies or to start working instead. While my parents have some savings, I am reluctant to use all of their resources for my education.

I have explored a few platforms like Vidyalakshmi and Jansamarth to understand my options. However, when I approached Bank of Baroda, where I have a savings account, they questioned the basis on which they could grant me a loan.

Could you please guide me on whether there are any chances of getting an education loan in my situation, or if it would be more practical to consider starting work instead?

You can get loan easily .Approch to other PSU bank like Canara Bank , PSB Bank, PNB Bank document you need 1.Offer letter from university 2.fess chart 3 income certificate from you father employer (if required any third person who can take guarantee of your loan) 4. Your all certificates .you can get security free loan upto 7.50 lac