With the COVID-19 vaccine being launched countrywide, schools have started calling students back to school in a graded manner with special provisions and restrictions. While students of classes 9 to 12 have already resumed physical classes, those in junior classes are still continuing with online classes.
Parents also need to prepare themselves for the hefty fee payments to the educational institutions. even for those in a comfortable financial situation, tuition fees at premier schools, colleges, and universities can be exorbitant in these tough times. That’s where education loans can come to your rescue!
Education loans can be crucial in molding the career plans of a student. It can make or break students’ dreams. Fortunately, almost every bank of India provides education loans, but getting the loans from the Banks can be a task itself. That’s where certain NBFCs can assist you in availing education loans. Hence, we have curated the list of Top 5 NBFCs that offers an alternative for speedy disbursal of loans and social lending norms for education loans.
Indian School Finance Company – is an NBFC- funding education segment exclusively by providing loans to Private Schools, loans to Affordable Schools, loans to Vocational Colleges & Institutes, loans to coaching centers, Loans to Teachers, and education Eco space. ISFC believes that the cost of your child’s education should not be a burden on your finances. Their low rates and easy documentation process ensure that good quality education is now made accessible to everyone. It’s customised loans also help edupreneurs and institutions to build their infrastructure which helps them grow in size and enable them to impart quality education to students.
Varthana – Thirumeni Finance Pvt. Ltd.- Operated by Bengaluru based Thirumeni Finance Pvt Ltd.- Varthana Finance offers student loans for higher education for PUC, Degree, Vocational and Training Courses in India. They help you finance your studies in a course and college of your choice as they understand the education and admission process in colleges of India and hence provide tailor-made solutions to meet your needs.
Eduvanz Financing Private Limited– Eduvanz provides loans to individuals to pursue any vocational degree or skill development course at any institute either recognised or in partnership with the company. It has tie-ups with more than 80 institutes. Eduvanz also aims to offer loan products that will focus on supporting financial requirements for K-12 (kindergarten to 12th grade) programmes, online skill development courses, and professional courses. Eduvanz’s mission is to make education universally accessible by providing easy, transparent, and speedy financial assistance using innovative technology solutions.
InCred Financial Services Pvt Ltd. – InCred is a new-age financial services group that leverages technology and data-science to make lending quick and easy. They use technology and data-science to make lending quick, simple, and hassle-free. They also believe traditional ways of lending can exclude those most in need because of outdated, rigid, and often inefficient processes. InCred aims to support the India growth story and to aid current and future generations of Indians embark on their personal nation-building journeys – by removing the biggest hurdle our students face when dreaming of higher education – financing.
Shiksha Finance– Shiksha Finance, a non-banking financial company (NBFC) focusing on school and student loans, provides loans to middle and lower-income families to finance school fees for their children. The loans, secured through social collateral, can be paid back through a repayment schedule. At Shiksha Finance, Student loans can be availed by parents to finance tuition fees, books, uniforms, shoes, bags, etc.