Does interest start adding up after we take loan or it starts adding up after our coarse period?will it be simple or compound interest if it does?
Yes I am not fixated at anything now I am waiting for my further josaa round,I hope I get pec ece atleast in further round,I will think about partial drop there but I don't know now.
What about scholarships check once if there are any ?
Arre bhai tu to vhi haina....Bhai if he scores good in clg he can get Mcn...and according to senior getting 40% mcn is not tough at all and for 80% if he puts in effort he can get it.
Also for an answer to your question, the interest starts adding up the moment you draw money from the loan account. It will of course be compound interest.
I got to know about this that's why I asked here to confirm from others.
bro i am in the exact same situation as you....98.6%ile and a similar income category...I got DTU EE through JAC..but I heard they are declining..I have to take a scholar loan for the entire amount i.e. 30 Lacs. I am 80% ready to take that if I get phoenix.BUT the problem is what if I couldn't get mcn and how much exactly will the loan cost.?If any senior is here please guide us
28 lakh loan will become 31 lakh at the end of 4 years,I have considered that you will take 7 lakh loan each year and will not pay any interest till 4 years
wait do we have to pay the interest during the course as well?
Also could you please calculate what the loan amount comes out at last?
yes, from the moment, you sanction loan, you will have to pay the interest of single second afterwards.
you can use loan calculator and make calculations yourself, just google "loan calculator"
Bro, I stalked your profile a bit(sorry). You scored 262 and have a family income of 8 lpa? Idts bits will be a good choice for you, especially if you have siblings. Pls don't take such big risks, 98.5%ile is damn good, even tho you failed in your drop. Continue on to a JoSAA college with no regrets.
PS - that post I wrote was for people just like you & me, bits simply isn't a good fit for us. I was just angry af back then. Right now I accept that and calmly move on. I suggest you to do the same.