Ensuring easy loan for student

Every year, the students who pass Higher Secondary Certificate (HSC) examination have to face a harsh competition to get them enrolled in public universities. On average, more than 30-40 admission seekers have to vie for one university seat. In most cases, they cannot study where they want let alone their preferred subjects. Bangladesh has a number of private universities, too. However, these universities charge excessive fees. In a low-income country like ours, only few can afford to pay such a high price. In this case, education loans can act as a saviour.
Many of us may not know that some banks in Bangladesh offer students education loans ranging from a minimum of Tk 100,000 to a maximum of Tk 2 million. However, most of our undergraduate students who need loans more than anyone else cannot reap the benefit of such loans. These loan plans are mostly made depending on the income of the parents, not the intellectual integrity of a student. Banks require collateral or a guarantee that the loans can be repaid to them. Students need a security deposit or their parents need to have at least a fixed monthly income to be eligible for an education loan.
This is one of the major obstacles most of the prospective clients face while trying to finance their education. The income of the students' parents often does not meet the requirements, resulting in a rejection of their applications. Student loans are very common in many countries including the USA, the UK, Australia and Canada where students do not have to face such hard and fast rules. In an idealistic world, education loans should be given to such bright students who cannot afford the cost of higher education.

Badsha Faysal,
Jurain, Dhaka,
badshafaysal1998@gmail.com