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Hiiii I would like to study in Australia in a Post Grduate programme. for this i want to take education loan upto 4 Lacks. my father is a govt. employee. i come to know that if we take loan upto 4 Lacks its without third party gurantee, can I take loan on my name and my father would be a guranter???? Actually I want to pay my loan my self and dont want my father to repay it . i will pay the loan. is it possible? pls reply.
Asked by Anjali on 29 October 2008 at 12:43 PM.
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Answered by Studyplaces Counsellor Australia New Zealand
You can borrow up to Rs 4 lakhs without providing any security or margin. You can get a loan amount of Rs 4 lakhs to Rs 7.5 lakhs against a third-party guarantee. This loan comes with a five percent margin. The loan amount disbursed is 5 % lesser than the sanctioned amount. You need to arrange for the rest of the money. The third-party guarantee can come from any relation, neighbour or friend standing guarantee for the full amount.
Yes,you can repay the amount after completion of your course.
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