A post graduate diploma in business management is one of the most sought after courses by students in the present time. Commonly known as MBA, this course has been attracting students to itself since quite some time. With MBA comes the name of IIMs and other prestigious B-schools of the country like S P Jain Institute of Management and Research and MDI.

The recent hike in fees by these premier institutes has made education much more costly. Indian Institutes of Management (IIMs) Bangalore and Kozhikode raised their fees by Rs 1.5 lakh and Rs 1 lakh, respectively. IIM- A now charges 13.7 lakh for the post graduate program in management (PGPM) for two years while the fees for IIM-B stands at Rs. 13 lakh. Indian School of Business (ISB), too, hiked its annual fee by Rs 80,000 to Rs 15.3 lakh for the one-year course.

It is beyond any doubt that qualifying for these colleges means a lot to students but funding a student for these colleges also needs ample financial capability. Many a times a student is unable to pursue a course because of lack of financial capability despite being an eligible candidate.

In order to facilitate students who aspire for higher education, banks provide education loans. Banks often come up with innovative loan products to tap a larger share of the market.