Prem Dhawan
18 December 2017 at 00:04
My query is to understand student loan before approaching an institution.
Student loan is needed for the education of my nephew.
* Is it always necessary to mortgage a property for student loan? Could you clarify with the help of some concrete examples?
If mortgage is necessary, I will have to mortgage my property because student's parents don't have any property to mortgage.
That's why some more questions as below.
* Will the loan be given to the student directly with him as first applicant (I am not sure if there is something like first applicant, second applicant etc. or not)?
* Will my name be added in the loan application or in a separate application? If not, how will I and/or my property be linked with the loan? Will I have to submit original papers of the property to the bank with some signed agreements? What will be the link between this agreement, if any, and the student loan?
Because it will be difficult to know at the time of application what the amount of first salary will be, how soon the student will/can be able to pay back the loan, etc. that's why few questions as below.
* From when will the loan repayments start, for example after the completion of studies, after the start of first job, etc.?
* When will the monthly installment amount be decided, for example already at the time of application, after the completion of studies, after the start of first job, etc.?
* When will the tenure for paying back the loan be decided, for example already at the time of application, after the completion of studies, after the start of first job, etc.?
* Can the start of installment payments be delayed (by agreement already at the time of application, or later), for example if the student wants to pursure some further studies after the completion of the studies for which loan was taken?
I would also like to understand the risk for me because my property will be mortgaged.
* Can the student escape easily from paying back the loan by simply saying No (refusing) to the bank for paying back the loan even if he has a job?
* Will the bank have to try every possibility to recover the money from him or his parents before using my property to recover the loan? What are those possibilities?
* Is the bank obliged to try all possible options including legal route (court cases) against the student and/or his parents before using my property to recover the loan?
* Will the bank need court's permission before using my property to recover the loan?
* What can be my point of defence taking into account that I may not have easy and direct access to records related to student's job or salary to prove that he is in a position to pay back the loan but he is not paying? Or I won't be able to keep my property if student simply doesn't pay back the loan?
Thank you.
Anonymous
17 December 2017 at 23:40
Is it necessary to respond to show cause notice....If necessary...Then within how many days.... Please explain
tanvi goyal
16 December 2017 at 12:49
I want a format of board resolution containing the matter that we are doing an agreement with a consultant who will help us to provide private equity funding and will receive 2 % processing fees & shares of the company if he will able in providing equity funding to company ....Please provide a suitable resolution with proper language.
tanvi goyal
14 December 2017 at 12:45
Sir I want to know that to add a new member in HUF we required a new deed or we can assume that he/she is a member of HUF by birth without any change in Deed.
Anonymous
13 December 2017 at 13:52
I am working in well known company of Delhi/NCR in shift, Is it illegal to studying regularly for my further education.
Anonymous
13 December 2017 at 12:18
My father was born in Bihar. He doesn't possess any house or property in delhi.
He has voter ID card in delhi which was made by using Rent agreement.
Can I apply for a caste certificate in delhi.???
My caste certificate will be issued by considering my as ordinary Residence of delhi or bihar?
Basically from where should I apply for my caste certificate...
Is it in Bihar or Delhi
Sukumar
08 December 2017 at 12:49
Sir I studied 6th to 10th in telangana.but my native place is in AP.and i have aadhar and voter card also.i applied for DSC in telangana.they rejected my application with reason of Nativity.
I applied in 2014 in AP .they treated me as a non local.becose of school education.
Now I request you sir please give me suggestion .how i can get eligibility either telangana are AP
Thinking you sir
Anonymous
05 December 2017 at 18:13
Dear Sir,
I have a educational loan worth two lakh rupees, as after completion of my Engineering I was not having job immediately, but after six month i was able to get a job but its salary was so less,7 thousand per month in pune, so i was not able to pay my EMI's regularly, now my account is in NPA, but i was regularly in touch with bank officials and was paying some amount per month, now they has called me for lok adalat, but I dont have that much money that i would pay it after the settlement, but I have good job now, I am afraid that they would seize my home which is my sole property, I am from very first ready to pay many time I convinced them to reset my EMis but they ignored, now I am helpless and in frustration.
Anonymous
03 December 2017 at 14:03
Dear experts,
In 2011, I took loan for my bachelors of 4 years from Punjab national bank.
My total fees including tution fees, development funds and others for four years was 2.50 lac approx
And for first year , it was 76400...but at time of giving money..bank authorities said they only provide tution fees and does not give any other support.so out of 76400 ..they only gave 36400 approx. And nearly 40000 was arranged by us from relatives.
And this same thing kept going on for next 3 years too.
Now after 6 years, they sent their two people saying I had not started paying loan emi and when I asked them how much total amount I need to pay they said 3 lac 9 thousand and some 17000 for bad loan account.
My problem is when they only paid half fees every year ..making it 1.23-1.30 lac in total ...how can they ask me to repay total fees which they never gave.
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Query
HI Sir/Madam,
I have completed b.com and i want to study LLB 3 year course in distance education.
Can u let me know that I have to write entrance exam for distance education??????