Loan for Education

Rohit Gupta (Querist) 04 January 2011 This query is : Resolved
i have got a case where, one of my friend doing hotel management in england has taken a loan which has not yet been repaid to the bank in india.
however he wants to get a further loan for his education but has just found his name on the cibil/civil list since previous loan is yet not paid.
i would like to know what are the legal preceedings which he requires to fulfill so as to avail himself the further loan.
also i would like to know whether he can get a loan in his sister's name..however she is not doing any job currently!

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Ajay Bansal (Expert) 04 January 2011
I don't think if he would further loan from his name or his sister name.

Ajay Bansal (Expert) 04 January 2011
I don't think that he would be given further loan by his name or his sister's name.

Y V Vishweshwar Rao (Expert) 04 January 2011
It depends on the Terms of the loan and Financial Capacity of the Parents who under take to repay the loan amount /and /payment of interest every month - CIBIL List is general Terms of the loan - the loan application to be studies with reference to the Parents financial position and and other connected facts/factors -

malipeddi jaggarao (Expert) 04 January 2011
Your friend is doing hotel management in England. Whether he has obtained the Education loan for the same purpose? In that case his name will appear not in CIBIL's list defaulters as his EMI will be fixed after the completion of course duration. Normally further loan for the same course will not be given as the entire expenses and sources to meet these expenses are computed at the time of processing the loan. But if there is genuine reason like hike in the fees etc., he can represent the present banker for enhancement of limit enabling to complete his education. First of all since his name appeared in CIBIL, it is presumed that you have not given full information. What legal proceedings you wish to take up for availing further loan? The other part of your query whether he can avail the loan in his sister's name as she is not doing any job is an attempt to misuse the social scheme blatantly. Such attempts for obtaining education loan is not proper.

Parthasarathi Loganathan (Expert) 04 January 2011
To put it concisely your sister is not eligible for education loan

Guest (Expert) 04 January 2011
YOU MAY KINDLY MENTION ALL FACTS AND CONTACT THE SAID BANK FOR FURTHER DETAILS .YOUR PURPOSE WILL BE SERVED.GOOD LUCK.

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