I am referring to systemic failures and my personal problem in getting a student loan. I am able enough to break the artificial barriers created by the Manuwadi Manhoos. What I am interested in that the general public who hasn't got the money bags or the immoveable assets should not get harassed and denied the loan for their academically brilliant wards. What I have highlighted is there is the Branch Mnager who creates the first hurdles. It is his discreation whom he/she chooses to be academically well qualified. Eg He refuses to even give the bank's application form to an individual despite being qualified.
Let me jot down the check list I was shown by one of the br manager of a PSU bank:-( for inland colleges /universities)
1. Appl in Bank's Format
2. Guarantor's consent letter.
3. Two passport size photograph of borrower(father),Co-borrower(Student),and Gurantor.
4 Rank Card EAMCET/CAT/GATE/JMAT etc.
5. .Allotment letter from councelling centre/university/college.
6. Marksheets from class X onwards.
7.Study cert if already studying in a college .
8. PAN Card/Voter I-Card/Passport of Father/Gurdian/Gurantor.
9. Salary Cert & Identity Card of of the parent/Guardian/guarantor.
10. Form 16 /Copy of the income tax returns for the last three years parent/guardian/guarantor.
11. Declaration of Assets and liabilities of father/guardian/guarantor if rqd.
12. Non - Incumberance cert and title deeds of the property to be mortgaged for loan above 4 lacs.
13. Details of colateral security.
14 Estimation of Tution fees etc.
15. Affidavit by the parent/guardian that they have not borrowed and they will not borrow from other banks for education of the student.
Till the time one satisfies the br manager you won't get even the appl form as per bank's format. I have compared even the PSU banks have different format.
KAR LO BAAT.