Students, looking for a loan? How about checking out NBFCs as an option?
Tell us about higher education sector and the need for funds...
India is a rapidly changing country in which inclusive, high-quality education is of utmost importance for its future prosperity. Education has always been an important aspect of the Indian culture, which has made education financing a multi-decade secular growth story in India.
Ever-increasing education spending and favourable demographics have made this market a crucial one, providing institutional funding required to harness and empower the human capital in a country.
Tell us about how you help students
Education-focused non-deposit-taking Non Banking Financial Company (NBFC) such as Avanse Financial Services Limited take a student-centric approach to evaluate the profiles for education loans.
Our underwriting process assesses the creditworthiness of applicants and mitigates risks associated with financing education abroad.
What is the process you follow?
We conduct an in-depth review of the student’s academic and professional background, including academic performance, entrance exam scores, relevant work experience, the ranking of the chosen university/institution, the course they will pursue and more, which enables us to understand their future employability and earning potential.
A well-rounded profile increases the likelihood of approval, reflecting the applicant’s potential for success in their chosen field. After this, we evaluate the co-borrower’s creditworthiness through credit bureau scores.
What happens after evaluation?
After this evaluation, we ensure that all necessary documentation, including application forms, KYC documents, income proof, academic transcripts, admission letters and loan agreements, are completed accurately and in compliance with regulatory requirements. Upon approval, the loan amount is disbursed directly to the educational institution or the borrower as per the agreed terms.
