Popular courses being scrapped. Fee being raised for domestic students and in some cases for international students too — the scene at UK universities is not encouraging. But as an indication of things turning better, Central Bank of India (CBI) has agreed to issue fast track loans to Indian students of University of Warwick to pursue a one-year full-time master’s programme at the varisty’s Warwick Manufacturing Group (WMG).
The programmes offered are cyber security and management, e-business management and enterprise innovation management. CBI shall process your request within 10 days of contacting the local branch. You need to submit documents such as passport and collateral details. Make sure your application for student visa to study at Warwick is procured in time before applying for this loan. A maximum of `20 lakh or 85 per cent of the course fees can be availed of as loan to meet tuition fees, books, travel expenses, laptop, life insurance premium and other academic-related payments. However, this money shall not cover your personal expenses like a vacation, car, etc. The interest rate remains the same at which nationalised banks in India offer credit (12 per cent).
Women have more reason to rejoice as they can avail the loans at a slightly lesser rate of 11.5 per cent. Plus there is no fee charged for this service. You have 5-7 years to pay back. Except providing a letter of acceptance, WMG has little say in this loan — CBI reserves the right to approve. Hurry and apply before July 31. For details, write to prasad.venu@gmail.com.
Requirements from CBI
■ Personal details like PAN, marital status, address, age and contact details
■ Passport and visa details
■ Academic records right from Class 10 onwards
■Details of bank accounts and existing loans from other sources
■Details of assets and liabilities
■Course details and expenses
■ Sources of finance and collateral details
—shilpa.vasudevan@newindianexpress.com