Overview

In Indian society, there exists a flock of meritorious students who have to stop higher studies after their schooling, due to lack of finance. Though banks provide education loan, but to those whose parents could provide security in the form of property, jewellery, bonds etc. Those who are eligible this way and needs loan, definitely get a bank loan. But to think of those who are not eligible in this respect, but have an urge to go in for higher studies, are deprived of this facility. It is there, that Brainztorm stands as a rescue for such needy students in helping them to continue their studies without worrying for required finances. Brainztorm, with its exclusive loan scheme provides finances to needy students.

Process

       Eligible students have to fill in a simple loan application form, submit all details after counselling and apply for loan. The loan will be considered only for tuition fees and at an interest rate of 6.5% per anum. Braintzorm will directly pay the fee to the study centre on behalf of the student. No cheque or draft or cash in any form will be given to the student or his/her parents/guardians. Once the loan is sanctioned, the student will have to fill in and sign a bond for bearing full responsibility for acquiring the said loan and to repay it after completion of the course. Since Brainztorm promises to provide cent percent placement, it has the endevour to offer the student the scheme to repay the loan in monthly installments amounting to 50% of their gross salary. The students will be bound to inform their employers about their running education loan at the time of placement and/or any change or changes in employment in the future till the final repayment of the loan. The student will at every stage keep Brainztorm in the loop to effect a smooth closure of the loan. 

Eligibility Criteria

  • Minimum 50% marks in the last academic year, with minimum 50% marks in 10th and 12th classes.
  • Id and Address proof of minimum five blood related family members.
  • Parents must not be Central/State Government employees.
  • Student must study in one of the Brainztorm study centre listed in this brochure.
  • Must have an urge to acquire higher professional qualification to serve the society.
  • Must clear the screening test conducted by Brainztorm.