Looking for Fee financing platforms, here are 5 NBFCs fulfilling the education dreams of students

Amid a decline in fresh COVID-19 cases and vaccines being made available in the country, several states started the process of unlocking and relaxing the restrictions imposed. The decision on schools and colleges to reopen will be based on vaccination drive for people above 18 years. As the new academic session is all set to start, parents also need to prepare themselves for the hefty fee payments to the educational institutions. That’s where education loans can come to the rescue. That’s where the NBFCs can provide easy financing options for students' seamless education. Here is the list of 5 NBFCs that are helping parents & schools to avail loans for seamless education.

Indian School Finance Company – An NBFC, enhancing the development of schools and colleges through their loan-providing capacities. Since the education sector is one of the fastest-growing sectors and the preferred choice of parents has been changed from government schools to private schools ISFC has been helping these private schools and colleges/ universities for developing their infrastructure and their entire space of education segment to impart better quality of education. They also help in all-round development of children by strengthening their educational institutions.ISFC provides loans without any tiring process having 22 branches in 13 States & funded 6,500 schools so far, still working on a larger basis to help schools/colleges grow bigger & better

LEAP – Studying abroad has always been on every student’s wishlist. However, not everyone is blessed with this opportunity but Leap, a learner- centred neobank, is providing easy and comfortable ways to fund your international education. One has not to dig into his/her family savings for going abroad for further studies. This loan covers student’s academic expenses, living expenses, provides international banking facilities, remittances, etc. Leap scholar is also launched by them for providing students with a digital platform for their counselling.It has online classes assisting lakhs of registered members and monthly active users. This year they are also aiming to serve many more students than the previous years.

Varthana – Founded in 2013, Varthana financial services is a platform designed to accelerate the growth of private schools in low-income communities. Loans and support are provided to the schools which are often not considered as established schools with all the facilities equipped. It helps education entrepreneurs who are urged to work hard for developing their schools to provide education to the students of their society.  One can use the loans provided by them to increase the capacity of the school & promote a good environment for the best education.  

 Eduvanz Financing Private Limited– Eduvanz provides loans to individuals to pursue any vocational degree or skill development course at any institute either recognized 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. 

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.