Urgent - Question regarding Bank Loan

[lovehawk77]

Hi,

I am in India and got a I-20 from an University. I applied for Bank Loan and they sanctioned 20 lakhs even thought I applied for 15 lakhs only. Thetuition fee for my University is 15 lkahs for 3 years?

Will this be a problem? One of my friend said that this may be a problem. The bank loan should not be more than 12 lakhs and the remaining amount should be from sponsor?

So will this be a problem??

Thanks,
Murali

[topcatin]

There are no such restrictions. The bottom line is you should have funds for your study which your bank loan provides. 12 lakhs doesnt make sense...what if a college needs 15 lakhs? You will be asked "what are you going to abouth the rest 3 lakhs"? But you will need to have 15 lakhs in your account and a bank statement showing the same.