Four study loan eligibility criteria NBFCs go easy on
Some NBFCs include even unconventional courses and institutes in their criteria
NBFCs are open to offering loans to students who are going for a course in lesser-known colleges or universities
In 2013, Vivek Panchpande, who is visually challenged, felt elated when he got accepted for higher studies at four different universities in Canada, New Zealand, the UK and the US. He had always wanted to study abroad but his dream remained unfulfilled. “With no collateral like a house to mortgage or no family member with a strong financial background to become a co-applicant, every bank I approached refused to give me a loan. I couldn’t go," said Panchpande, 32, who now teaches part-time at a college in Mumbai.