<p>Hi,
I am a prospective student going to the United States. I don’t understand the loans of the banks, they say they give around 30 lac loan for studies abroad. Will they give money for the whole ug study if we want and if our collateral is about 3 crores?</p>
<p>I think you’re asking at the wrong place, the best source would be the bank themselves, however you should know that the loan amount never exceeds the collateral, so if your whole UG studies cost more than or even equal to 3 crores, then you can forget that. Your best bet would be to ask the bank, public banks offer loans at lower interest and private banks at higher rates but obtaining a loan from a private bank is a lot easier (less time and effort). Finally, loans are offered without collateral if the said university is prestigious (IITs, IIMs etc.). Which university are you planning to attend? </p>
<p>Well I’m planning to attend CMU or UC Berkeley</p>
<p>Did you try to negotiate scholarships from CMU? They admit that they’re open to negotiations!</p>
<p>Nope! CMU doesn’t offer financial aid to int’l students…and I also indicated that I don’t need merit scholarships.</p>
<p>Why would you do that? If you’re able to afford the fees, then why are you taking a loan?
?/</p>
<p>No, I indicated that because CMU told me that it might hurt my chances</p>