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Who can be my co-borrowers while taking an education loan for MBA or PG courses?

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Discover the perfect co-borrowers for your MBA dreams! Explore options for seamless education financing.

If you are planning to take an education loan for an MBA or postgraduate (PG) course in India, you may require a co-borrower to support your loan application. A co-borrower is an individual who shares the responsibility of loan repayment with you. Here are the commonly accepted co-borrower options:


Parents are often the most common and preferred choice for co-borrowers. They provide a strong financial backing and are typically considered reliable and trustworthy by lenders.


If your parents are not available or unable to act as co-borrowers, a legal guardian, such as an uncle, aunt, or grandparent, may be considered. The guardian should have a stable income and meet the lender's eligibility criteria.


In certain cases, siblings who are working professionals with a regular income may be allowed as co-borrowers. They should meet the lender's requirements and provide the necessary financial support.


If you are married and your spouse meets the lender's eligibility criteria, they can act as a co-borrower. Their income and financial stability will be assessed to determine their contribution to the loan repayment.

It's important to note that the co-borrower's income, credit history, and financial stability play a significant role in loan approval. Lenders assess the combined repayment capacity of both the borrower and co-borrower while considering the loan application. When selecting a co-borrower, consider individuals who have a good credit history, stable income, and willingness to support your education journey. They should be aware of the responsibilities associated with being a co-borrower and be willing to provide the necessary documentation for the loan application.

It's advisable to discuss the co-borrower option with your preferred lending institution to understand their specific requirements and eligibility criteria. This will help you identify the most suitable co-borrower and ensure a smoother loan application process.