Hello Everyone,
I had taken education loan to study MBA for the session 2008-2010 of total amount 3.6 laks. During the period 2010 to Jan 2012 I was unemployed. In Feb I joined a company and after that I am giving EMI to bank.Though the EMI which I was I giving to bank was not sufficient as required by the bank. But my family condition is very poor and I am the only person in my family who is liable for all financial requirements. My father is not earning anything because of his age and health issues. Now, one week ago he has suffered from a major operation because his backbone has been fractured. Now, my financial condition is very poor.
My total loan amount is now 5.20 Laks. I had paid to bank approx Rs one lakh and bank has recived subsidy from govt Rs 1.20 laks. My friend are ready to help me to settle the loan amount. i want to settle the loan amount with rebates. but my bank manager is saying that there is no settlement procedure for education loan. I am very helpless now. Please suggest me ASAP. Also, is it possible to settle the amount by paying Rs 2 Laks now at a time.
