A few decades back, higher education was not an easy option for many, mainly due to the steep financial factor that it carried with it. Thus the willingness to opt for the same was not very high from the students’ or for that matter the parents’ point of view.
With education gaining focus and importance in lieu of the good it does for the growth of the country, the government has started dedicating higher chunks of their planned expenditures and budget outlays for education, higher and technical alike. At the same time, the government has offered students with many tools not only in the form of scholarships, funding merit prices but also the provision of education loans by banks and financial institutions in the country.
Yes, the easy availability of loans has definitely encouraged MBA aspirants. Today, there is no student in the country who does not have the resort of taking an education loan from the bank for his higher education and costly MBA programs. Students do not have to depend on the traditional money-lender or a rich uncle for sponsorship of his/her education program.
Organized lending for banks at reasonable and student friendly interest rates is doing the rounds making the education of any category accessible to all classes of the population. The paper work is simple, precise, heavily documented and fully transparent and accountable making it exceedingly reassuring. The point to be noted here is one cannot deny that most post graduate programs are more expensive in nature than a simple three year basic degree program in any stream. Thus, getting funds for these could be a tough task. But, that’s not the case anymore. In fact, banks and other financial institutions provide education with a whole lot of option that makes it very simple for the student to just apply for an institution of their choice and commence with it with great zeal. Some loans ask for the payments to begin to only after the course program is over while some ask for nominal interest payments while the course in on. Most the time parents pay the interest monthly and students pay the entire sum back to their parents’ one they start earning. Some good institutions even have their own personal tie-ups with banks that offer funds to the students the moment their names are listed on their admission lists.
Even institutions do not want to miss out on good students these days and therefore they go all the way, even beyond their trustee charity scholarships to offer their new set of students the comforts of a luxurious MBA without monetary issues of any sort. Now, why wouldn’t the easy availability of loans encourage MBA aspirants?
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Does The Easy Availability Of Loans Encourage MBA Aspirants?
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