Mumbai: The waiver of collateral for loans up to Rs 7.5 lakh in higher education are only marginal help, students who attend vocational courses in India or abroad, experts say, because guarantor is always necessary.

SP Jain, dean of the Institute for research and management ML Shrikant said those who want to study abroad, more than 7.5 lakh case

“This means that they must show guarantees. Inany case, I do not think the MBA candidates have a problem, as they prepared with a minimum of paper work,”he said. Vikram Sinha, MA Student, Plans Study the USA, said that safeguards can be severe.

“Those who have the intention of a loan amounting to take advantage of a few lakhs,”he said.

Much will depend on the granting of a credit agency, adds Siswati Kapoor, who, after four banks last year, when they wanted RS 3 lakh. “I remember visiting each bank three times a day. If this rule was in place during the last year, I requested a credit. “