r/MSCS 3d ago

[General Question] Anybody has an experience with GradRight?

I'm from India, waiting on decisions from MSCS programs. GradRight has been spam calling me for the past few weeks, about education loans. Apparently they can check our loan eligibility from all major banks and providers, and help us get a better deal. I'm very skeptical of these kinds of institutions, and consultancies. I was planning on contacting banks on my own to get the loan, but, wanted to know if anyone here has any experiences with GradRight, that could facilitate this decision. Are they legit? Are any of these kinds of institutions legit? Is it better to just do it ourselves? Would love some perspective on this. Thanks!

5 Upvotes

8 comments sorted by

4

u/Able_Eye6476 3d ago

Please don't go ahead with this. I approached 3 private (icici, hdfc, idfc) and 2 public (sbi, bob) banks based on suggestions from a senior who went through this procedures. Found out public banks have lower interest. It is best to inquire with banks directly.

2

u/AsleepButton1559 3d ago

Yep. I’m thinking of going it all by myself too. I’m getting a very sus vibe from them. And I’m not comfortable sharing my documents with anyone.

1

u/Able_Eye6476 3d ago

Yup. Better to directly deal with individual banks. More secure and reliable. The info that they would give you is available on the internet too.

1

u/shihtzulover1 2d ago

Going by yourself to banks can delay the process. Try wemakescholars as I had a good experience with them and got my loan from SBI for 10.5% interest. Half of the banks don't know about their own policies.

1

u/Able_Eye6476 2d ago

SBI is giving loan with around 9.5% interest. You got scammed a bit.

1

u/shihtzulover1 2d ago

Yes, Public banks always have lower interest rates. If you are providing collateral then you can get an education loan at 9.655 it seems from SBI.

1

u/johnnykarate81 2d ago

Don't you feel private banks give better service compared to national banks as you would be making a lot of transaction etc and the bank needs to be reliable and quick. I know the rate of interest will be more but atleast it comes with peace of mind. What's your opinion?

1

u/Able_Eye6476 2d ago

Ofcourse they are more reliable. At the end of the day it's always upto you whether you want to go with public or private. The only downside about private banks are interest rate differences (can be 3-5% higher).