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Kalpesh Patel on 11 July 2012
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Indian institute of planning and management not refunding money

I wanted to do mba from iipm pune. I received a call from iipm's counselor in january. I belong to lower middle class and only earning member in the family. I clarified to the counselor that I will be pursuing mba only if I secure a education loan. The counselor arranged a call back from the marketing hod vikram ghosh. Mr ghosh told me that, student can be the primary applicant and that no guarantor is required as my salary is 0000 per month. After this conversation, I transferred the amount of rs. 5000 to iipm in february and submitted all documents they asked for in order to process loan formalities. After I made the payment, they told me to pay another installment on rs 9000 within 1 week, which was not possible as I wanted to study on education loan. I approached iipm pune to inquire about loan application status. The loan representative in pune campus told me that neither I nor any other person except blood relation can be a primary applicant. I asked the loan representative how will I get education loan as non of my family member is earning? after a talk with mr vikram ghosh, the representative told me to apply for personal loan the interest rate of which is 18%. Mr vikram ghosh also changed his statement in front of loan executive that he never told me such things as student can be the primary applicant and that no guarantor is required. I request the forum to help me recover my money as I have to work hard to make ends meet.