FINANCING YOUR MBA – Primer I

- P. Sharma with inputs from Serena Kallian

Rs. 19 lakh, Rs. 11.5 lakh, Rs.9 lakh, Rs. 5 lakh – we are not quoting the entire annual expenses of an upper middle class or middle class family of four or five; these are the amounts that you, an individual with or without a monthly income, would be required to spend should you happen to be meritorious and lucky enough to gain admission to the flagship management programs at the ISB Hyderabad, IIM Ahmedabad, IIM Bangalore, or IIM Calcutta  respectively. Does that mean quality management education has become out of bounds for all except the ones with the proverbial golden spoon? Thankfully, the answer there is negative. As all Institutes will vehemently assert, and truthfully so, money is NOT a constraint for a candidate of calibre and no deserving student, whether at IIM-A or at Harvard, will be deprived of education for lack of finances. In the first of our two-part series, we look at the technicalities relating to the most common and easiest way of procuring finances for your management studies, and present the perspectives of a few students who have availed Bank Loans.

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Making Selection of Loans Easier: Loandukaan

Young, dynamic, risk taking and a man with a truly entrepreneurial spirit, would best describe Adhil Shetty, who is the CEO of LoanDukaan.com. LoanDukaan.com is an online marketplace to be launched in July 2008, which will provide a one-stop solution for all those who want to apply for loans. Before Adhil founded this company, he was a Senior Consultant at Deloitte Consulting, New York City. Before that, he was an Engineer at Cisco Systems. Adhil holds a Masters in IR (International Business) from Columbia University and a BE from CEG, Anna University. In this exclusive interview, Adhil talks to P Sharma on how students in search of educational finance may also benefit from their enterprise:

Please tell us about this novel concept called LoanDukaan.com.

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