Student Loan Letter Format

[soberdeepak]

Anybody taken Student loan from SBP !! Manager says they only transfer the Loan to your account and not to College !! is it fine ???? Can anybody share what it looks like !!!

 

[enfield]

Anybody taken Student loan from SBP !! Manager says they only transfer the Loan to your account and not to College !! is it fine ???? Can anybody share what it looks like !!!

Hi,

1. The process is: payment of required tuition to your school account via banking wire transfer. And, you actually maintain 15% margin money payment + repayment of loan via your own account (a joint account with your parents/guarantor).

 

[soberdeepak]

Thanks for the info enfield ! my problem is that its a rural branch in Haryana and they can't wire the funds !! so is it fine if the manager gives the letter sayin that its a student loan and transferrin the entire money to my account and I can show that in bank statement !! sanction and disbursement to my account !!! please advise !!

 

[enfield]

Thanks for the info enfield ! my problem is that its a rural branch in Haryana and they can't wire the funds !! so is it fine if the manager gives the letter sayin that its a student loan and transferrin the entire money to my account and I can show that in bank statement !! sanction and disbursement to my account !!! please advise !!

Hi,

There are two things;

1. Loan letter for visa application. Get one letter from your bank stating the approval of loan (You don't need to mention the mode of payment/wire transfer etc. CHC is not interested in knowing the mode of payment. It's a matter between you, your school and bank).
2. Payment of tuition from loan amount. Your bank will transfer tuition to your school's account via wire transfer. The facility of wire transfer is very much restricted to the main branch-state/head office/zonal branch and, it's the "duty" of your bank to arrange wire transfer