High Turn-Outs For MBA Education Loans

The concept of 'education loan' has helped tens of thousands of students across the world to achieve their career goals and dreams

. About a decade ago, the scope of higher education and 'study abroad' were restricted to a select group of students who belong to the upper strata of the income bracket.

The popularity of management studies like Masters in Business Administration was minimal compared to other professional specialization by virtue of the high costs of education incurred in these study programs. As a result, many industrious and capable students are barred various opportunities because of the financial constraints. Owing to the fact that Scholarships or governmental grants were very few and limited, the probability to getting a chance or claim over these funds were near to impossible for many students. However, times have changed and the boom in the banking sector in the last few years have brought 'light of hope' to the lives of many students in India.

Today, there are several private and national banks offering different kinds of education loans to students for practically any subject of study. At present, there are generally two types of loans are offered to students interested in pursuing higher education in India as well as abroad namely- graduate and the post-graduate levels loans.

It has successfully boosted the morale of thousands of students in the country and the number of students opting for education loans has increased dramatically in the last couple of years. In fact, most educational institutions work in collaboration with different national as well as private banks to save students with the effort of running around from pillar to post. With speedy financial arrangements in place, the admission and the course fees that a student incurs during an MBA education program are easily taken care of by the respective bank.

So, the loan amount offered by most of the banks for MBA study in India is 10 lakh INR whereas the same abroad will cost 20 lakh INR however, the finance amount may be subjected to rules and regulations of individual banks too. In recent times, some MBA educational loans are also given against collateral such as shares, debentures and NCC, thus nationalized banks offering PG education loans in India include- State Bank of India, Allahabad Bank, State Bank of Mysore, Bank of Baroda and many more. The emerging Indian economy has a great demand for qualified and well-trained managers and management trainees cutting across all industry-types. Hence, the loan re-payment rate for MBA graduates is greater given the fact that lucrative and promising jobs await them right after the completion of the degree.

Innovative 'flexi and convenient' education loans from IMT Dubai rekindled the hopes of many graduates and post graduates business students. Internationally reputed management institute IMT DUBAI has other study centers in India - IMT Nagpur, IMT Ghaziabad and the upcoming IMT Hyerdabad.

High Turn-Outs For MBA Education Loans

By: John MichelCane

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