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  • Got a Rank in EAMCET 2011 Engineering Entrance Exam – What’s Next ?

    Got a Ranking in Engineering Entrance Exams – What’s Next ?

    Exams are over and results are out now what next…..?

    Most of the students are very happy that they have got good marks….but few of them are sad.

    But those who are having good marks and cleared engineering entrance examination are still worried. Why ?

    • Whether they will get admission in good college or not?
    • What will be the Cut off percentage of different colleges ?
    • What are the different courses available in different colleges ?
    • Which branch should i take ?
    • Which college i will get at this rank ?
    and so and so !!!

    Here we will discuss these question in detail but one by one

    First of all which branch should i take ?

    This question is very difficult because if u ask X,Y,Z then u will get X,Y,Z answer….but what is right for u let examine yourself..give the answer some of the question honestly and then decide yourself.

    What is your criteria for choosing a branch?

    (a) Job Opportunity
    (b) Money
    (c) Parents wish
    (d) Your interest

    (a) Job opportunity: This is the most important criteria for choosing a branch in a cut throat competition environment. This is true that branches like computer science, Information Technology and electronics are amongst the huge job provider and that’s why they are the first choice of most of the students in last years counselling. But it’s not means that other branches are less important as far as job opportunity is concerned, other branches are equally good the only difference is that most of the software industry are mass recruiter but core industry are not.

    (b) Money : This is also one of the most important factor for choosing a branch.The answer of this question is very difficult because money making is depend upon individual talent not on your branch. It does not mean that if you are in computer science, Information Technology or electronics (which are the most preferred choice of students) then you will make a lot of money….even in other branches like mechanical, electrical, chemical or production, civil etc. you can make money. It is one of the misconception that software engineer are making more money. Only few of them are able to do it and again it’s depend on your talent and hard work so no particular branch is moneymaker and in every branch you can make money.

    (c) Parents Wish: This option is very emotional and worth meaning. Most of the parents wants only those branch in which job opportunity and money are more so for parents i request please go through above paragraphs and don’t force your children to go for a particular branch only because of particular reason.

    (d) Your Interest: This is the most important and worthy factor which is ignored by most of the parents and students. As mentioned earlier that each and every branch okay. It Is your intrest that make money and satisfaction.because after four year of your graduation u will be in industry and then whole of your life will be with same branch and work which u have opted today…..if you are interested in it then ii is good but if you are not then the words tension,stress,dissatisfaction, depression will come into picture because you are working for money not for your interest and hobby.You are working with those things which you have not liked in your four year of graduation but now you have to pass whole of your life with this branch. So always keep your interest first.

  • State Bank Of India – SBI – Education Loan

    A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.

    Eligible Courses

    a. Studies in India:

    • Graduation, Post-graduation including regular technical and professional Degree/Diploma courses conducted by colleges/universities approved by UGC/ AICTE/IMC/Govt. etc
    • Regular Degree/ Diploma Courses conducted by autonomous institutions like IIT, IIM etc
    • Teacher training/ Nursing courses approved by Central government or the State Government
    • Regular Degree/Diploma Courses like Aeronautical, pilot training, shipping etc. approved by Director General of Civil Aviation/Shipping
    • Vocational Training and skill development study courses will not be covered under the Education Loan Scheme, as the scheme is framed to provide bank loans for higher studies.

    b. Studies abroad:

    • Graduation/ Post-graduation for job oriented professional/ technical courses offered by reputed universities

    Expenses considered for loan

    • Fees payable to college/school/hostel
    • Examination/Library/Laboratory fees
    • Purchase of Books/Equipment/Instruments/Uniforms
    • Caution Deposit/Building Fund/Refundable Deposit (maximum 10% tution fees for the entire course)
    • Travel Expenses/Passage money for studies abroad
    • Purchase of computers considered necessary for completion of course
    • Cost of a Two-wheeler upto Rs. 50,000/-

    Any other expenses required to complete the course like study tours, project work etc.

    Amount of Loan

    • For studies in India, maximum Rs. 10 lacs
    • Studies abroad, maximum Rs. 20 lacs

    Interest Rates

    Click Here For Interest Rates

    Processing Fees

    • No processing fee/ upfront charges
    • Deposit of Rs. 5000/- for education loan for studies abroad which will be adjusted in the margin money

    Repayment Tenure

    Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier.

    Place of Study Loan Amount Repayment Period
    in Years
    Studies in India Rs. 10.0 lacs 5-7
    Studies Abroad Rs. 20.0 lacs 5-7

    Security

    Amount For loans upto Rs. 10.00 lacs for Studies in India and upto Rs. 20.00 lacs for studies abroad
    Upto Rs. 4 lacs No Security
    Above Rs. 4 lacs to Rs. 7.50 lacs Collateral security in the form of suitable third party guarantee. The bank may, at its discretion, in exceptional cases, weive third party guarantee if satisfied with the net-worth/means of parent/s who would be executing the documents as “joint borrower”.
    Above Rs. 7.50 lacs. Tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments.

    All loans should be secured by parent(s)/guardian of the student borrower. In case of married person, co-obligator can be either spouse or the parent(s)/ parents-in-law

    Margin

    • For loans up to Rs.4.0 lacs : No Margin
    • For loans above Rs.4.0 lacs:
      • Studies in India: 5%
      • Studies Abroad: 15%

    Documentation Required

    • Completed Education Loan Application Form.
    • Mark sheets of last qualifying examination
    • Proof of admission scholarship, studentship etc
    • Schedule of expenses for the specified course
    • 2 passport size photographs
    • Borrower’s Bank account statement for the last six months
    • Income tax assessment order, of last 2 years
    • Brief statement of assets and liabilities, of the Co-borrower
    • Proof of Income (i.e. Salary slips/ Form 16 etc)

    * Conditions Apply

    Download Form

    Online Loan Application Form

    Click Here To Register Online

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