Collegedekho.com launches into Ed-FinTech
– Aims to provide end-to-end financial support to students studying in India or even abroad
– The facility covers almost 1000 colleges across India and aims to cover over 2,500 colleges over the next academic year, ensuring access even to the smallest towns
GURUGRAM, India, December 17, 2021 / PRNewswire / – CollegeDekho, india The largest college admissions and higher education services platform recently made a foray into the Ed-FinTech vertical. The foray into a new vertical makes CollegeDekho the first and only EdTech company in India to offer zero percent EMI end-to-end financial solutions for students studying in either India or abroad. This is a unique digital path for students who have their documentation available online as the online loan market covers the entire loan sanctioning process and helps them get instant approval and disbursement in one day.
The company will seek to meet the financial needs of students and parents through India to help them achieve their educational goals. Initially launched as a pilot, CollegeDekho worked closely with colleges and students to make the Ed-FinTech solution inclusive and easy to apply. This service now covers nearly 1,000 partner colleges and aims to expand to over 2,500 colleges by the next academic year, which will cover over 80% of well-known colleges in India.
Commenting on the launch, Ruchir Arora, co-founder and CEO, CollegeDekho said with optimism, “We aim to make the loan process as easy as possible for all students applying for higher education. The highlight of our vertical is the zero percent EMI facility for students applying to studies in India or even abroad. This puts us at the forefront of the Ed-FinTech vertical, in line with our mission to simplify the journey of students in higher education by bringing about positive change. “
This one-time zero-interest financial offer is already available from CollegeDekho partner colleges and aims to ease the financial burden on students as they only need to repay the principal amount in fixed installments. CollegeDekho Consultants will also assist students and parents throughout the loan application process, especially in scenarios where complete data is not readily available or where applicants have their documentation in a physical format. In this case, advice is provided in terms of the application process as well as loan penalties through follow-ups with the respective NBFCs. This facility covers colleges across India which ensures that even the smallest city in the country can benefit from this feature.
Leaving no stone unturned, the company has teamed up with several financial partners to increase approval rates. This functionality allows the company to successfully subscribe and manage different types of borrower profiles. The borrower profiles covered are very varied, ranging from employees, self-employed, farmers and even aspiring Gold loans among many others. Finally, the College Working Capital Product provides an unsecured working capital loan to a college based on its past performance. This benefits the college as it can increase its capacity utilization without any additional cost being incurred.
Tenzin Thargay, SVP & Head Fintech vertical added, “Our motivation is to create a platform that connects students, colleges, banks and NBFCs to create a seamless borrowing experience. We use the power of data to help lenders improve risk assessment and “So to improve final prices. This is a space where currently lenders are not able to access meaningful data beyond the top 100 colleges and only a platform like CollegeDekho can bring stakeholders together.”
About CollegeDekho – india largest Ed-Tech platform for higher education services. Since its inception in 2015, CollegeDekho has advised over 2 million students and assisted nearly 1,000 colleges in their student recruitments. With over 100 million sessions on its website in 2020, CollegeDekho is also proud to own india the largest Common Application Forms Platform (CAF) that has processed over half a million applications by 2020. CollegeDekho also offers a full range of study abroad services, from discovery on admission. The latest introduction to Ed-Fin-Tech offerings is fueled by a simple vision to help every student access the higher education they choose. (www.collegedekho.com)