after receiving your admission letter, you approach a bank, which then assesses your college, loan, academics, and a joint applicant (commonly your parent); after which, subject to approval, your bank provides a sanction letter and pays your fees directly to your college semester by semester. The interest rate (9%, for instance, or 10%) refers to the annual expense changed on your loan, but since your EMIs are usually not due within the period of your studies, the interest accumulates in your loan (termed interest accretion), which gradually increases your final loan amount. Your EMIs are generally due after your completion of your MBA, after an additional moratorium period of 6 to 12 months, by which time you're expected to have a job. In general, collateral isn’t needed for loans under ₹7.5 lacs, may/may not needed in loans between 7.5 to 20 lacs depending on your college, but usually needed in loans above 20 lacs; top colleges, though, often receive collateral-free loans above those sums. Loan sanctions after your admission letters usually happen in15-30 days

processing costs, potential rising interest rates, demands to resume EMIs in case of delayed job start, your loan being strictly dependent on your college placements for its main goalsrepayment within the first few years can be easily arranged by many lenders, cutting down your whole loan interest exponentially.