How to Pay for IIMA or Harvard?

All banks in India are *required* to offer education loans. The process applying for is still so opaque, cumbersome, costly and time consuming that most student cannot rely on loans as their only source of funding.
I can go to yatra.com and book the cheapest flight from Mumbai to Delhi, sitting in my village and choose an airline with its hub in Bangalore. Why cant I get my student loan online?


How to Pay for IIMA or Harvard - WSJ.com: "In a few days, students will know whether they have made it or not. If you are chosen, you may not get too much time to celebrate – you have to figure out how to pay for that expensive education.

Several IIMs recently increased their fees by 100,000 rupees or more. A two-year management of business administration program at the coveted IIM Ahmedabad now costs around 1.4 million rupees ($31,500), while the fees are 1.35 million at IIM Calcutta and 1.3 million rupees at IIM Bangalore. Only a small percentage of students qualify for breaks in fees at these schools.

Luckily, there's help at hand.

India's banks have been increasingly boosting their education loan portfolios and new players are entering the market. In December, home loan giant HDFC Ltd. bought a 41% stake in non-banking financial company Credila Financial Services, which specializes in giving education loans. HDFC hopes to eventually buy out the entire company."