Need to take education as well as personal loan for MBA. Please advise!
Hi folks, hope you're having a good day!
I graduated a couple years ago and right now I'm the sole earning member of my family owing to chronic health issues of my parents. I fortunately got a great score in CAT and hoping to convert atleast a few Tier 1 colleges. The problem is as I'm the only earning member, if I go for MBA the family will have to take a personal loan (of approx 15-20L for 2 years) as well as education loan for me(around 25L for most clgs) which boils down to somewhere to the tune of 45L total.
My question is is there any loan scheme which would take care of the personal loan as well (with maybe a moratorium of 2 years or something similar?) I unfortunately cannot claim EWS since my previous financial year's taxable income was around 14lpa. I don't want my parents and my little brother to significantly cut down their quality of life just to save money while I do my MBA.
If anybody who's already pursuing MBA and went through a similar situation could help me out pls guide me as this is currently taking a huge toll on my mental health and I'm not able to focus on GDPI prep as well. Thank you in advance! please let me know if you'd like more relevant details!