Financial Aid FAQs for Students
The approval process can take anywhere from a few days to a few weeks, depending on the lender and the completeness of the application.
The loan amount can vary depending on the credit score of the borrower & the cost of the MBA program. We may offer up to 100% of the program cost, while others may have a maximum loan limit.
The eligibility criteria can vary depending on the lender, but generally, an applicant must be an Indian citizen, have a good credit score, and demonstrate a steady income or a co-signer.
Tax benefits may be available under Section 80E of the Income Tax Act, 1961. It's best to consult a tax professional or the lender for more information.
The following documents are required to avail an education loan for an MBA: 1. Loan application form duly filled and signed by the student or Digital Form Submission 2. KYC documents of the student and co-applicant, if any. 3. Proof of income of the co-applicant, if any. 4. Mark sheets and certificates of 10th and 12th standard examinations. 5. Admission letter from the institute. 6. Proof of admission fee, course fee and other related expenses. 7. Collateral security documents, if applicable. 8. Bank statements of the student and co-applicant, if any, for the last 6 months. 9. A detailed study report of the course. 10. Recent passport-sized photographs of the student or Selfie if student using Digital Journey.
The fees for MBA programs at top B-Schools in India vary considerably. Generally, the fees for an MBA program range from Rs. 10 lakhs to Rs. 25 lakhs.The most expensive programs are offered by the Indian Institutes of Management (IIMs). The fees for the two-year MBA program at the IIMs range from Rs. 18 lakhs to Rs. 25 lakhs. Other premier institutes such as the XLRI Jamshedpur, SPJIMR Mumbai and MDI Gurgaon also charge fees in the range of Rs. 15 to Rs. 20 lakhs for their two-year MBA programs. Many other B-Schools such as FMS Delhi, JBIMS Mumbai and IITs also offer two-year MBA programs. The fees for these programs range from Rs. 10 lakhs to Rs. 15 lakhs. The fees for one-year MBA programs offered by some institutes are significantly lower than the two-year MBA programs. The fees for these programs range from Rs. 3 lakhs to Rs. 7 lakhs.
The documents required for an education loan for MBA in India may vary depending on the lender, but generally include:Proof of admission to the MBA program.Proof of identity and address.Income proof of the applicant and/or co-applicant.Collateral documents (if required).Educational qualification certificates.
The placement record of MBA colleges in India varies depending on the institute and the program. However, most top MBA colleges in India have a good placement record, with many of their graduates getting recruited by top companies in India and abroad.
Yes, there are various scholarships available for MBA in India. These scholarships are offered by the government, institutes, and private organizations to financially support students who wish to pursue MBA.
The top MBA colleges in India include Indian Institute of Management (IIM) Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Lucknow, IIM Kozhikode, Indian Institute of Technology (IIT) Delhi, IIT Bombay, IIT Kharagpur, Management Development Institute (MDI) Gurgaon, and Faculty of Management Studies (FMS) Delhi.
