Funding of studies in case aid is not available

In case aid is not available it will not be possible to meet all expenses with on campus employments. In such a situation students could opt for a loan, which could be repaid within two years of graduation. To get such loans (at US) a US permanent citizen or a Green card holder should sign a guarantee certificate showing adequate funds to meet the expenses in case of default. The students could also fund the education with personal funds. Yet another possibility is obtaining loans form banks in India, but this can be done only when a valid VISA is produced.

Note : This loan could be sought from any nationalized bank and the maximum limit is 6 lakhs. The policies vary from bank to bank, but in most cases this money has to be repaid in principle in installments after 2.5 years on dismissing interest basis. It is necessary to produce a collateral (which may be in the form of land documents) equal to or double the value of the borrowed sum. In some banks the policies are so flexible that the student could get a loan sanctioned for the maximum possible extent and use only the required amount. This money shall be enough to take care of first semester expenses.