March 23, 2015: If one defaults on an education loan it could impact the chances of getting a loan for many more important milestones in the future like the dream home or the car he/she aspires.
An education loan default occurs when the borrower fails to repay the education loan EMIs. Defaults on repayments of education loans will reflect in the borrower's CIBIL report and negatively impact his/her CIBIL Score and hence like in the case of Sachin, if one defaults on an education loan it could impact the chances of getting a loan for many more important milestones in the future like the dream home or the car he/she aspires.
© Copyright 2017 TransUnion CIBIL Limited (Formerly: Credit Information Bureau (India) Limited). All Rights Reserved.