Ronnie... there is generally a moratorium period.. (dont know if the spell is correct).. anyways.. the EMI is calculated such that there is appx 30 month moratorium.. ie 24 months of ur study time.. plus 6 months after pass out.. u may start paying as soon as u get a job tho which ever is earlier..
upto 4 lakhs.. u dont need any collateral. ( but yes u need a guarantor).. all banks give this.. its as per national policy on student loan disbursement for higher studies inside India - 2004.
i think everybody should go for a loan ( even if he/she is the next to kin of sultanate of brunie.. it just makes lot of sense ).. also these days getting loans isn ot difficult at all.. Indian rupee sells very cheap and very easy..
STILL COULDNT GET HOLD OF MY COURIER GUY !!!!> WAAAAHHHHH>> :huh:
Thanx Amit,
btw have there been any changes to this in the budget ??? Problem Child aka PC's dream budget is turning out to be a nightmare.
and hey, the courier is thru speed air.....just make sure you've checked properly with the folks now inhabiting your house.
" Indian Rupee Sells Cheap " hmmmmm nice topic for a GD
Once again guys... someone please compile the list of those reg. nos. for which results are to be checked (please see that there is no mistake in regards to the course)
Expecting someone to volunteer & putup the list in say half an our...
Prateek
hi!
i had called up the mdi admissions office twice. once i was told that i am in , later i was out. can you pls check an dlet me know for sure? my cat reg. no. is 3540624 & i've applied for the pgp-hr coure. thanks in advance.
hey has there been an changes in the tax benefits for the students loan in the new budget? i mean , there used to be exemption on students loan. is it still thr or removed?
Go to my blog - there are two entries there explaining the effect of budgeton education loan.
I have an admit for pgphr and i intend to take a student loan. could you please tell me if this scholars loan that you mentioned is available only at SBI , Gurgaon branch? i talked to an SBI officer here in bangalore, but he had no clue as to what i was talking about! when i told him that sbi had an arrangement with mdi gurgaon, he said he had never heard of the place. though he said he would check it up with someone, i would like to know if any further documents are required from mdi/sbi gurgaon to process the loan application here?
thanks,
rahul
Hi Guys..
I guess Prateek forgot to mention, and its really important that all of you know... so I'll put this in.
For everone considering education loans :
SBI offers a 'Scholars Loan' at 9.25% or thereabouts for MDI students - you dont need any collateral / security from your parents, and you dont need too many other documents either. All you need is a letter from the institute saying you are a bonafide student, and viola! the loan is in your lap.
Since this is the first year the loan is being offered, none of us have availed it as yet, but some of us are planning to . Proceedings are expected to happen sometime next week , so will update on the same again. Moi is also applying for it , but since I wanna transfer from another bank, I dunno if it will happen.
For people considering other loans , you will usually require your parents to become gaurantors, and some kinda security as well. The rate is usually between 11 - 12%. I dont know of troubles faced by anyone in our batch - getting loans can be tedious in terms of paperwork, but otherwise isnt much of an issue. You also need to pay some amount of the fees yourself (15% in my case).
Like I said , guys.. this loan has been introduced this year only. Only 60 colleges from the entire country get this benefit. So its possible all branches do not know of it.
I have an admit for pgphr and i intend to take a student loan. could you please tell me if this scholars loan that you mentioned is available only at SBI , Gurgaon branch? i talked to an SBI officer here in bangalore, but he had no clue as to what i was talking about! when i told him that sbi had an arrangement with mdi gurgaon, he said he had never heard of the place. though he said he would check it up with someone, i would like to know if any further documents are required from mdi/sbi gurgaon to process the loan application here?
thanks,
rahul
hi Control freak.... first of all welcome to the hood...
I was just at the bank and i spoke to the manager here bout an edu loan... this is in mumbai seepz...and i asked him bout the scholar scheme... he said hes aware of it...
i am statrting of the procedings here...(jus waiting for mah letter ....its late but i am used to it...I got my CAT admit card 4 days after the "panic button on day" )
Just speak to ur SBI manager again...
And...
Prateek and Ashima(hope i got it rite this time 😃 )....my buddie is coming home from the states...askin him to get a laptop... shud i ask for a wireless LAN card?
Ciao for now
Penetrate the... evening that the.... city sleeps to hide.....
I have not receievd my letter yet(I am in Bangalore) ... so in a fit of anxiety called up the admission office again .... they reconfirmed the admission and also said that they had posted my letter on Thursday by Blaze Flash courier. They said that it would possibly reach today.
Now I am trying to find out where the offices of Blaze Flash courier are in Bangalore. If any body is in the same boat please do some investigations too.....
HI FRIENDS THIS IS A REQUEST TO ALL THE MEMBERS WHO HAVE RECEIVED THE FINAL CALLS BUT THOSE WHO WOULDNT BE TAKING ADMISSIONS FOR PGP-HR TO PLEASE LET US KNOW THEIR STATUS.. THIS WOULD HELP PEOPLE LIKE US TO BETTER JUDJE OUR CHANCES FOR A FINAL CONVERT AT MDI.ALSO IF THE PEOPLE WITH IIM CALLS AND FINAL PGPHR CALL COULD MAKE THEIR POSITIONS CLEAR IT WOULD BE A GREAT HELP.. THANK YOU
HI FRIENDS THIS IS A REQUEST TO ALL THE MEMBERS WHO HAVE RECEIVED THE FINAL CALLS BUT THOSE WHO WOULDNT BE TAKING ADMISSIONS FOR PGP-HR TO PLEASE LET US KNOW THEIR STATUS.. THIS WOULD HELP PEOPLE LIKE US TO BETTER JUDJE OUR CHANCES FOR A FINAL CONVERT AT MDI.ALSO IF THE PEOPLE WITH IIM CALLS AND FINAL PGPHR CALL COULD MAKE THEIR POSITIONS CLEAR IT WOULD BE A GREAT HELP.. THANK YOU
hi Control freak.... first of all welcome to the hood...
I was just at the bank and i spoke to the manager here bout an edu loan... this is in mumbai seepz...and i asked him bout the scholar scheme... he said hes aware of it...
i am statrting of the procedings here...(jus waiting for mah letter ....its late but i am used to it...I got my CAT admit card 4 days after the "panic button on day" )
Just speak to ur SBI manager again...
Penetrate the... evening that the.... city sleeps to hide.....
hi ,
guess i jumped the gun yesterday . but the whole loan thingy gets more and more complicated everyday ( forgive me, i am only an e&c; engg fresh out of college! ) got another letter from mdi that describes the loan. among other things, no margin money and interest rate of 9.25 upto 4 lakhs and 5 percent margin with 9.75% above 4 lakhs. but from what i could make out, i have to do the arrangements with sbi gurgaon only! those who have got the letter, please explain things to me!!! or have i not understood properly (highly probable) ? please translate the letter into plain english for novices like me!!!
Guys what about having a poll to see how many of us are from major cities like Mumbai, Delhi, Chennai, Calcutta, Bangalore, Hyderabad, Ahmedabad, Pune, Chandigarh etc. I think it will be interesting to see the distribution. Can the moderator add a poll please.
The MDI guys although late with their posting of results have been really helpful. They have sent a second copy of selection letter by normal post with a provisional loan application for SBI. This letter clearly states that SBI is ready to grant a loan of upto 7.5 lakhs against ur confirmation of selection to MDI. This should clear some of the doubts abt loan facility.
Can u plz say something abt this thread which speaks volumes by itself. http://www.pagalguy.com/cat/showthread.php?t=7096&highlight;=mdi
After reading this thread MDI is out of my list. i have decided not to join it evn if i ddnt get addmission in any othr college. It is not bcoz of the financial benefits reflected in that thread but just bcoz i dont want to join an insti. which is teaching non-ethical ways to get attention and business(if i cud add it up too).
Can u put some light on it? And i dont want to offend any1. i just want to get rid of my curiosity. MDI is ofcourse ranked 3rd in 2 national surveys. but if this is the reason, it has made me revert my decision of joining it.
)
) got another letter from mdi that describes the loan. among other things, no margin money and interest rate of 9.25 upto 4 lakhs and 5 percent margin with 9.75% above 4 lakhs. but from what i could make out, i have to do the arrangements with sbi gurgaon only! those who have got the letter, please explain things to me!!! or have i not understood properly (highly probable) ? please translate the letter into plain english for novices like me!!!