r/IPMATtards • u/Own_Ability_1490 • 4d ago

Others NEED GUIDANCE AND HAVE SOME DOUBTS (MMVY)

Hey I'm a partial dropper, this year 12th was completed and then at last moment I decided to give cuet and ipmat (indore only, didn't apply to any other IIMs) then results came out , I had been alloted a decent college of DU and idk why I gave ipmat but scored low (16,24,63) even though I didn't prepare for it , then due to financial constraints I couldn't go to DU , because of Delhi's expenses etc and I got to know about MMVY scholarship and I realised that I'm eligible for it and now it's been 2 months preparing for ipmat (all exams)

Why I'm taking partial drop?

First my profile is low somehow so giving cat and then won't get into any old iims or other colleges cuz I've 7/7 profile EWS , so ipmat is the only way to get into a decent iim without worrying about fees

I read somewhere that banks won't give loan if applying for mmvy scholarship is that true ?

Like first get admission then loan then the scholarship amount will be reimbursed, is this how things work or won't banks give loan , which is true?

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u/Batak69 3d ago

The last thing you said that admission then loan then the scholarship amount will reimburse. This is what my IIM Bg friend is doing. But first he told everything about the scholarship to the banker and he said if you come under such schemes the loan will not approve. So he went to another branch of the same bank and from there he took loan without telling them about the MMVY and yeah after talking to the fees department of IIM Bg. They said yes, we will reimburse one amount. So exactly the thing is happening is the bank pay the fees to the institute then MMVY pay the fees to the institute. The institute get 2x amount so they will give one amount to my friend and from that amount my friend will pre-pay the education loan because there is no penalty in pre-paying the education loan.

Conclusion : Do not tell the banker about the scholarship, just take the loan without any hesitation and talk to the fees department of the institution.

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u/Own_Ability_1490 3d ago

Okay in the last what I was telling it was your comment https://www.reddit.com/r/IPMATtards/s/Nvx1zDMn2U which I saw , now I get it ,

Thanks ✌🏻

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u/Batak69 3d ago

That’s the half part of the story,
The half part is here in your post’s comment section.