To choose right and to invest in a future that is bright, here are a few startups that can help you finance overseas education.
Over the period of time, international education has gained immense popularity among Indian students due to various factors such as job prospects, global awareness, travel and opening up opportunities. But in 2020 the industry witnessed a complete halt across the world due to Covid-19. Now, after a year of Covid-19, the coming fall season looks promising for the students to plan their study abroad dreams. To choose right and to invest in a future that is bright, here are a few startups that can help you finance overseas education.
We Make Scholars: WeMakeScholars is an organisation upheld by the IT Ministry, Government of India. Their main motive is to provide loan support to the students looking forward to foreign education. They follow a totally unbiased approach towards providing education to the students. It is an online initiative and is completely free of cost. They are associated with more than 14 banks, both public and private sector and students can get the best abroad education loan as per their profile.
They perform many functions on the behalf of the students. They negotiate with the banks on the behalf of the students and also ask the bank for the best ROI as they are directly associated with the head offices of the banks and financial institutions.
moneyHOP: moneyHOP, offers a cross-border banking experience to Indian students with its ‘One-Global-Account | One-Global-Card’. The focus of the brand is to offer custom-made solutions for millennials that are cost-effective, mobile-first and address their global aspirations. With an entire existence online, moneyHOP target tech-savvy millennials who prefer the majority of money management via their mobile app or other digital platforms. Along with providing seamless customer service, online banks are faster, cheaper, accessible, flexible and scalable. In the case of moneyHOP, it has two products i.e. HOPRemit and HOPapp. It allows users to SEND money internationally via HOPRemit or SPEND money globally using HOP app’s multi-currency bank account. The services have minimized the turnaround time for sending money and made it more cost-effective while reducing the paperwork and adhering to all regulatory norms.
Leap Finance: Thousands of students fly abroad every year to pursue higher education every year and the biggest problem that they face in foreign lands is the unavailability of financial services like loans and credit cards to them since they don’t have a credit history in that country, even if they are provided with loans and credit cards, they have to pay twice the interest when compared to the local citizens.
Leap finance is headquartered in San Francisco and they grant loans to students by evaluating their data in India itself at very nominal interests.
Prodigy Finance: It is a leading cross-border lender for international postgraduate students that lend based on their future earning potential rather than their current circumstances and requires no co-signer or collateral for the loan. Prodigy Finance offers education loans without the need for security, a co-signer or guarantor at more than 750 schools around the world, in the fields of business, engineering, law, public policy and health sciences. The entire loan application process takes place online, with the student signing their final loan agreement once they’ve reached campus. Interest is calculated using simple interest and is made up of a fixed margin, determined by Prodigy Finance. It is not a bank, rather their loans are financed each year by a community of investors who receive both a financial and social return.
LeverageEdu: This platform is helping thousands of students across the country to identify and chose the best matched higher education options. Their pool of over 2000 exclusive mentors from the top universities of the world guide students at every step of the admission process. Their AI driven system providing unique and personalized experiences to the student. Subsequently along with other services the platform also provides students with value-added services like education loans to help them avail of a dream education. This makes LeverageEdu the one stop shop for end to end solutions for students pursuing education abroad.
Source: Business World
