Empoweryouth.com, the career-tech platform,now offers Education loans for studies across the states of Punjab and Himachal Pradesh. The organization has tied up with more than 60 colleges to help their students with availability of education loans. EmpowerYouth already has tie-ups with ICICI, Avanse, Agile Finserv, Ez Capital, WePay, InCred, etc. for servicing these loans and is in the process of signing up with more banks and NBFCs as well.
EmpowerYouth believes in empowering the youth to exercise their right to education, by reaching out to even the most marginalized student segment – the rural poor. Even if the students procure admissions in colleges, they are unable to meet the fee requirements of the institutes, due to lack of funds, often missing out on higher education. Currently 90% of the education loan applications are rejected because of either incomplete documents or disinterest from organizations since the loanis too low or of a very short duration.
EmpowerYouth has been able to reduce this gap of access-ability of education by creating innovative products around education loans, which are helping students as well as colleges. On the empoweryouth.com platform, education loan rejection rate has dropped below 30% for studies in India.
Any student who has secured admission in these 60 colleges can apply for student loan from the numerous options available online on www.empoweryouth.com.The loan is available throughout the year for any year/semester that the student wants to avail the loan on. This is something that is not typically available on most websites.
“We at empoweryouth.com realized that a number of students from rural and semi-urban areas were unable to pursue higher education not because they were not getting admissions but because they could not pay the fees or access education loans. We believe that no student should be denied an education just because she/he is unable to access ways to fund it and education loan access is our way of helping these students”, says Mr. Shalya Gupta, Co-Founder & CEO, empoweryouth.com.
The 60+ colleges that Empoweryouth.com has tied up with for this scheme include D.A.V College, Jalandhar, Apeejay Institute of Management & Engineering Technical Campus, Sri Aurobindo College of Commerce & Management, GNA University, Rayat Bahra University, DAVIET Jalandhar,etc. EmpowerYouth has also tied up with Bahra University, Shimla for this service.
The education loans at empoweryouth.com platform are available at rates ranging from 0% and above depending upon type of education and the repayment schedule. The education loans can be accessed for Semester fees, or Annual fees, as per requirements, in addition to the traditional education loan for the whole course. The repayment plan can be spread over 4 Months to 10 Years.