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Everyone’s Guide to MBA Education Loans for Working Professionals

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Working professionals looking for higher education funds, must be aware of the bank’s processes and have the required papers ready to ensure a smooth funding.

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Everyone’s Guide to MBA Education Loans for Working Professionals

  1. 1. Everyone’s Guide to MBA Education Loans for Working Professionals <ul><li>Working professionals looking for higher education funds, must be aware of the bank’s processes and have the required papers ready to ensure a smooth funding. </li></ul>www.midcareers.com
  2. 2. How to Fund your Higher Education? -1 <ul><li>Identify the course to pursue </li></ul><ul><li>Does it qualify for a loan </li></ul><ul><li>Check out total education costs on the university website </li></ul><ul><li>Look for grants/ waivers </li></ul>www.midcareers.com
  3. 3. How to Fund your Higher Education? -2 <ul><li>Get a list of banks that offer loans at attractive interest rates </li></ul><ul><li>Check out banks preferred by your college </li></ul><ul><li>Do you need a guarantor </li></ul><ul><li>Do you need collaterals </li></ul>www.midcareers.com
  4. 4. How long does it take to get a loan for doing an MBA? <ul><li>Two weeks to two months </li></ul>www.midcareers.com
  5. 5. Documents banks and colleges may need -1 <ul><li>a. Proof of admission or scholarship </li></ul><ul><li>b. Expense schedule / cost estimate for your course </li></ul><ul><li>c. Income Tax Statements for the last three years (if you are employed and those of your guarantor as well) </li></ul>www.midcareers.com
  6. 6. Documents banks and colleges may need -2 <ul><li>d. Proof of residence </li></ul><ul><li>e. Proof of identification </li></ul><ul><li>f. Statement of assets and liabilities for yourself as well as your guarantor </li></ul>www.midcareers.com
  7. 7. 2 reasons why universities waive fees in some cases <ul><li>Merit of candidate </li></ul><ul><li>Exceptional need based cases </li></ul>www.midcareers.com
  8. 8. Advantages of loans from universities <ul><li>Low interest rates </li></ul><ul><li>Colleges can fund upto 100% of the tution fees </li></ul><ul><li>More if there’s a solid reason for it </li></ul>www.midcareers.com

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