If a father is not helping a student in getting an educational loan for B.Tech study, are all options closed for her? Well, it seems like that. Her mother is going from bank to bank, but every bank (UCO/BOI/SBI) is asking for father’s signature. What should a non-working mother do, so that her child keeps studying in a reputed college of India? I would like to know logical/legal option for the student as well.
Q1 – Can she get a loan with the help of some guarantor without father’s signature/approval?
Q2 – When does guarantor’s name start appearing in CIBIL? When loan gets approved, when loan EMI gets started or when student defaults?
Q3 – If a person becomes guarantor, will it affect his future loan taking eligibility? Particularly, if EMI has not been started or the student did not default?