After successfully completing her higher secondary exam with 82% marks, Lisa, 24 years, was on tenterhooks about further pursuing Bachelors degree from her favorite &, of course, a top college of New York. What constantly pestering her, in applying, was her father’s main income was not that much enough to carry on her further studies. She was elated about being a would-be student of reputed college and, at the same time, monetary problem of her desired fat course’s fee had incessantly, put her in pangs. “Can my father afford it?” was her main concern. After exploring all financial options, her father thought of “Student Loan” provided by many commercial banks which help them for education ahead.
Being an estimable student helped her a lot in applying for a student loan, since banks check the candidate’s academic record throughout, regardless of family income or assets. Actually speaking, a student of lower middle class, but bright in their business, often qualify for the parameters of obtaining an education loan. One need not bother for a rigid repayment process or higher interest rates. But, banks do check the status & placement record of an institute a candidate applies for besides acknowledging the applicant’s capability of repaying it hassle – free post settling down. Three years later, Graduate girl Lisa got employed in a gainful job under a reputed company and gradually repaid the bank’s loan.
This case, like many others, of financial aid for students show that high course fee is not a hindrance, rather makes a difference, for the guys who want to chase their dreams, come what may. In a country like USA, many students, despite having good academics, fail to achieve their aspirations just because being ignorant of available opportunities. Candidate’s of rural areas often become victim of this since middle men are always at hawk to oppress them with putting many hurdles before them & their parents. Yet, no bar can apply a break to go ahead if you have made up your mind.
Policy, procedures & approval may vary from bank to bank but, more or less, any lender doesn’t put the applicants in dilemma which may be a road-block in the path of their dream job.