Education Loan for MBA – Finance Your Dream MBA Degree
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Education Loan for MBA – Finance Your Dream MBA Degree

Master of Business Administration (MBA) is one of the most expensive professional courses in India. The MBA courses from top MBA colleges in India is an excellent return on investment, but they demand a huge investment up front, which many students are not able to afford. The amount is higher if the student chooses to enrol into an executive MBA course. When you add the cost of books, lodging, and other associated expenses, the overall cost of getting an MBA degree in India is exorbitantly high.

Therefore, students are looking for various options to fund their MBA degree. Fortunately, there is an ample number of education loans in India. Considering the expected high returns on an MBA course, banks, NBFCs and other financial institutions readily offer education loans to students who have secured their admissions into top-tier MBA colleges.

In this article, we’ll talk about the important details about MBA education loan in India.

What Is an Education Loan?

An education loan is money borrowed to fund higher education-related expenses. These loans are designed to cover the tuition cost, books, and living expenses while the student is pursuing an MBA. The loans are offered to students who have already secured admission to an MBA course.

Why Take an Education Loan for MBA?

  • Increase Your Education Budget: With aa MBA education loan, you can complete an expensive course that you otherwise wouldn’t be able to afford.
  • Cover Almost 100% of Education Expenses: MBA education loans typically covers all the costs involved in pursuing an MBA degree.
  • Prevent Missed Opportunities: An MBA education loan helps you invest in an MBA degree, thus boosting your career and creating new growth opportunities.

MBA Course Fee for IIMs and Top MBA Colleges in India:

RankTop MBA Colleges in IndiaLocationTuition Fees
1IIM AhmedabadAhmedabadINR 23,00,000
2IIM BangaloreBangaloreINR 23,00,000
3IIM CalcuttaKolkataINR 27,00,000
4XLRI Xavier School of ManagementJamshedpurINR 20,00,000
5Indian School of Business (ISB)HyderabadINR 24,54,000
6SPJIMR MumbaiMumbaiINR 17,50,000
7IIM IndoreIndoreINR 16,00,000
8IIM LucknowLucknowINR 14,16,000
9FMS DelhiNew DelhiINR 1,92,000
10IIFT DelhiNew DelhiINR 17,25,000

Loan Options for MBA Education

Education loans are divided into two categories: secured and unsecured.

Government banks and some private banks provide secured education loans. These loans require the borrower to pledge certain types of assets as collateral.

Unsecured education loans are instant personal loans for higher education. The borrower doesn’t require to pledge collateral and these loans are generally provided by NBFCs. Governments and private banks also provide unsecured education loans, but the loan limit of loans offered by NBFCs are generally higher; you can obtain loans for up to ₹25 Lakh in minutes. Unsecured personal loans for education are extremely flexible and caters to your financial situation by providing repayment tenures ranging from 12-60 months, minimum documentation and attractive interest rate.

Shiv Nanda

Shiv Nanda is a financial analyst at MoneyTap who loves to write on various financial topics online. He also advises people on financial planning, investment choices and budgeting skills, and helps them make their financial lives better.

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