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Can a student avail another loan for further studies? When will the repayment of the new loan commence?

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Discover: How students can fund future studies, and when the clock on repayment starts ticking.

Yes, students can avail another loan for further studies in India, even while repaying an existing education loan. If you plan to pursue higher education or another course after completing, let’s say your MBA, you can apply for a new education loan to fund your additional studies. This loan can be used to cover the tuition fees, living expenses, and other related costs of the new course.

Application Process:

To apply for a new loan, you will need to approach the lending institution and follow their loan application process. This typically involves submitting the required documents, such as admission letters, course details, and proof of expenses, along with the loan application form. While availing this new loan, it's important to continue repaying the existing education loan as per the agreed terms and conditions.

Terms & Conditions:

Similar to the previous loan, the new loan may also have a moratorium period or grace period where you are not required to make any principal or interest payments. This period will depend on the terms set by the lending institution and the course duration. As soon as this grace period ends, the repayment of the new loan will commence. The repayment schedule and start date will be communicated to you by the lender once the loan is sanctioned and disbursed. The terms may vary based on the loan amount, interest rate, and the lending institution's policies.

Always Remember:

When considering a new loan for further studies, it's important to assess your financial capability to manage multiple loan repayments simultaneously. Plan your finances accordingly, taking into account both the existing loan repayment and the future loan obligations.


Maintaining a good repayment record on your existing loan and managing your finances responsibly will positively impact your creditworthiness and increase your chances of getting approved for a new loan. Ensure you communicate with the lending institution clearly and provide accurate information regarding your existing loan when applying for a new loan. This will help the lender assess your repayment capacity and provide appropriate guidance throughout the loan application process.