Fellow FB Desis,
Seeking help to identify education loan options for my brother in India to study in Canada. He has secured a seat for MBA and begins this fall. Money seems to be the only problem now.
We don't have property in India. We've looked at ICICI, MPower so far.
ICICI wants the whole program cost in FD
MPower doesn't fit a specific student visa requirement (SDS)
I have good net worth in the US and willing to pledge them as collateral. But we're lost.
Continued..

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I don’t have a solution to offer - just here to say thanks for being this amazing sibling to your brother. I have an elder brother who helped me pull things together, so fully appreciate what it means for your brother.

Thank you for doing this. I’m sure things will fall in place.

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OP: I’d also recommend taking a loan in India. I took mine from SBI (they’ve a special programme for MBA loans which offers a significantly higher borrowing limit). My parents helped me put up collateral and co-signed with me. Also better for your brother to take an INR loan, so he doesn’t get crushed with a dollar loan (worst case scenario). I repaid mine in 2.5 years

I really want him to pursue this, without me having to break the bank here in US or liquidate my dollars to move it around.

It's quite scary with an aging mother, and me turning the sole earning member, and navigating 3 countries with no permanent address in my country of citizenship.

Student loans in his name from banks in Canada or US with you as a co-signor. Once he graduates, he can start making payments to the bank himself with a job (hopefully). Contact your personal bank in US or have him get bank names from his school in Canada.

These are international student loans so the student does not need a social security number. This is why they look for a co-signor with a social security number

Try Prodigy Finance. I used them for my MBA in USA but they finance a lot of MBA programs across the globe. Generally, they finance 80% of the cost of attendance. So, you will need to find some other source for the remaining.

And they don’t require a collateral.

Sincere thanks to all who commented. Thank you for your directions!

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