Student Loan Consolidation / Application for Student Loan in Indian Banks in Kolkata

Student Loan Consolidation / Application for Student Loan in Indian Banks in Kolkata
Note: Article applicable to any students looking for student loan in India

“Student loan” is very common type of loan for most of the students coming to USA or abroad. You can apply for the loan from almost any Indian Banks if you have “admission letter” to any Universities in USA or other countries (including India too)! Most of the students choose USA as a potential zone for future studies due to:

1. Multiple good schools: so more options for a students
2. Good Scholerships.
3. English speaking country.
4. Large amount of Indian students (and strong Indian Student Associations) in most universities - so help is available all the time.

Well, the big problem in applying to American Universities is “Money”. The application fees varies from 20 USD to 100 USD (may be more). Again, you have to apply for more than one university so that you increase the “chance” of getting admission with funding. Usually most of the students apply to at leaset 10 universityes which will cost them in between 200 USD to 1000 USD. Now there are other expenses apart from the application fees. Often we forget about the postage! Most of the students use KML or FEDEX service which will cost about 50 USD on average. So, save another 500 USD for that.

Well, even before you start you application, you have probably taken at leseat GRE (Graduate Record Examination) and TOEFL. GRE test will cost you about 100 USD and the TOEFL will cost about 50 USD. So, you have already spent about 150 USD there. Now, GRE test scores will be sent only to 4 universities for free. If you are applying to 10 universities, you have to spend anoter 15 USD per universities! So, about 100 USD extra there!

I am considering another 100 USD for books and stuff you purchased for the preparation of GRE and TOEFL.

Now, once you have got your admission letter you have more expenses. First of all VISA application and processing fee. Non-immigration VISA application fee is about 120 USD now.
Check the USCONSULATE.GOV for more information about VISA from Calcutta (Kolkata).

Well that is not all, you need to buy the air ticket which may cost up to 800 USD!
You also need some money to carry with you in case you need. Most of the students usually carry 1000 USD. You will need that money to pay rent for the first months expense as your scholership will start from the next month you reach in USA.

• Check this site for general information about GRE
• Visit here to register for the GRE TEST in Calcutta

Better if you call the number listed below or see them at their office:
To Register for a GRE test in Calcutta (Kolkata):
Region 14 - INDIA
Call: 91-124-5147700 (New Delhi, India)
FAX: 91-124-5147773

GRE/TOEFL TEST CENTER ADDRESS:
CALCUTTA
Test Center Number: 8906
TESTS OFFERED: GRE, TOEFL
PERMANENT CENTER

Application Fees: 200 USD to 1000 USD
GRE + TOEFL: ~ 150 USD
Extra GRE score to Univs: ~100 USD
Books/etc ~ 100 USD
Air Fare: ~ 800 USD
Expense after immediate arrival in USA: ~ 1000 USD
So, you will need about 1 lakh to 1.25 lakh just for the the whole process of coming to USA. Well, this is pnly an estimate and you are welcome to leave a reply about how much you spent during your trip to USA.

NOTE: if you have not got any funding, but just got admission, you can still apply for loan. There are numerous banks who will offer check interest rates and will offer up to 20 lakhs ot even more. Check the offer by three major indian banks for education loans.

1 lakh is still not a small amout of money for numerous middle class families in India. So, many of the students apply for “Student Loan” from various Indian Banks. Some of the common banks where you can apply for “Student Loan” in Calcutta, Kolkata are:

State Bank of India Student Loan (Visit them Online)

Bank of Baroda Student Loan (Visit them Online)

Allahabad Bank of India: Student Loan

Some More Banks with Links to their EDUCATION LOAN PAGE:

• Bank of India Education Loan Application
• United Bank of India
• UCO BANK Education Loan Page

List of all other banks that might be useful to you:

1. A.P. Mahesh Co-op. Urban Bank
2. Abhyudaya Co-op. Bank
3. ABN AMRO
4. ACE Co-operative Bank
5. Allahabad Bank
6. Amanath Co-operative Bank
7. Andhra Bank
8. Andhra Pradesh State Co-op Bank
9. Apna Sahakari Bank
10. Bank of Baroda
11. Bank of India
12. Bank of Maharashtra
13. Bank of Rajasthan
14. Bassein Catholic Co-op. Bank
15. Bharat Co-op. Bank (Mumbai)
16. Bharat Overseas Bank
17. Bombay Mercantile Co-op. Bank
18. Canara Bank
19. Capital Local Area Bank
20. Catholic Syrian Bank
21. Central Bank of India
22. Centurion Bank of Punjab
23. Citibank
24. Citizen Credit Co-op. Bank
25. City Union Bank
26. Coastal Local Area Bank
27. Corporation Bank
28. Cosmos Co-op. Bank
29. Deccan Merchants Co-op. Bank
30. Dena Bank
31. Deutsche Bank
32. Development Credit Bank
33. Dhanalakshmi Bank
34. Dombivli Nagari Sahakari Bank
35. Federal Bank Limited
36. First Leasing Company of India
37. Greater Bombay Co-op. Bank
38. Guardian Sahakara Bank Niyamita
39. Gujarat Industrial Co-op. Bank
40. HDFC Bank
41. HSBC
42. ICICI Bank
43. IDBI Bank
44. Indian Bank
45. Indian Overseas Bank
46. Indusind Bank Limited
47. ING Vysya Bank
48. Jalgaon Janata Sahakari Bank
49. Jammu & Kashmir Bank Ltd.
50. Janakalyan Sahakari Bank
51. Janalaxmi Co-op Bank
52. Janata Sahakari Bank
53. Kalupur Commercial Co-op. Bank
54. Kapol Co-op. Bank
55. Karad Urban Co-op. Bank
56. Karnataka Bank
57. Karnataka State Co-op Apex Bank
58. Karur Vysya Bank Limited
59. Kotak Mahindra Bank
60. Krishna Bhima Samruddhi Bank
61. Lakshmi Vilas Bank
62. Lord Krishna Bank
63. Mahanagar Co-op. Bank
64. Maharashtra State Co-op Bank
65. Mahesh Sahakari Bank
66. Municipal Co-op. Bank
67. Nadia Gramin Bank
68. Nainital Bank
69. New India Co-op Bank
70. Nilambur Co-Operative Urban Bank
71. North Kanara GSB Co-op. Bank
72. Nutan Nagarik Sahakari Bank
73. Oriental Bank of Commerce
74. Orissa State Co-Op Bank
75. Ottapalam Co-Operative Urban Bank
76. Punjab & Sind Bank
77. Punjab and Maharashtra Co-operative Bank Ltd.
78. Punjab National Bank
79. Purathur Service Co-Operative Bank
80. Rajkot Nagarik Sahakari Bank
81. Ratnakar Bank
82. Repco Bank Ltd
83. Rupee Co-op Bank
84. Saraswat Co-op. Bank
85. SBI Commercial & International Bank
86. Shamrao Vittal Co-op. Bank Ltd.
87. South Indian Bank Ltd.
88. Standard Chartered
89. State Bank of Bikaner and Jaipur
90. State Bank of Hyderabad
91. State Bank of India
92. State Bank of Indore
93. State Bank of Mysore
94. State Bank of Patiala
95. State Bank of Saurashtra
96. State Bank of Travancore
97. Surat Peoples Co-op. Bank
98. Syndicate Bank
99. Tamil Nadu State Apex Co-op Bank
100. Tamilnad Mercantile Bank
101. Thane Janta Sahakari Bank Ltd.
102. UCO Bank
103. Union Bank of India (UBI)
104. United Bank of India
105. Urban Co-op. Bank
106. UTI Bank
107. Vijaya Bank
108. Yes Bank
109. Zoroastrian Co-operative Bank

Now about Student Loan Consolidation!
Once you are in USA, and have started getting schlorship, try to repay as soon as possible. If you cant, you have to wait. In many times you will get good credit card offers from various credit card companies in USA who will offer 0% interest rate on purchase and “balance transfer” for period of time (up to 1 year or so). Use those offers effectively, do not pay minimum due dale and you will sone be a free man out of the burden of loan!

We will discuss more about Student Loan Consolidation in future articles.