Indian School Finance Company to launch School Rejuvenation Program; aims to assist 10,000 schools across India
New Delhi: In alignment with its vision to transform the education sector, Indian School Finance Company (ISFC), a leading non-banking finance company, plans to launch School Rejuvenation Program across India. The move aims to boost learning in schools by aiding digital and physical infrastructure with customized fee financing, special benefits to existing customers, and additional facilities like providing school ERP solutions and integration with content delivery companies to help schools start their operations.
In the first phase, the School Rejuvenation Program intends to target 5,000 schools affiliated with ISFC across thirteen states. The first-of-its-kind initiative offers multi-fold benefits that aim to strengthen the educational ecosystem. ISFC has developed a tech-enabled ERP system that facilitates end-to-end teacher and salary management. It also equips the schools with seamless student lifecycle management. The ISFC partnered schools can avail the ERP system free of cost with the additional benefit of 0% cost on financing for parents.
The initiative also proposes to help the schools in digitizing their whole operations. Recently, ISFC signed a MoU with exam management and content software companies. It is in line with equipping the schools with virtual learning and online exams. Under the School Rejuvenation Program, the organization will offer these tech-enabled software solutions to schools. The main objective is to enhance their capability to conduct online classes while providing quality education to students. This, in turn, will help the schools scale up and improve credit performance and fee collection efficiency.
ISFC will also provide funds to schools that are planning to strengthen their digital infrastructure with exam management and other digital school management software. While targeting the already affiliated members, the newly associated schools will be able to avail these benefits within three to six months of association.
With an initiative of “restarting learning physically or digitally, kyunki padhega India tabhi to badhega India” under School Rejuvenation Program, the organization has a range of customized financing plans and digital content solutions through partners for educational institutions.
Speaking on the new initiative, Mr. Sandeep Wirkhare, MD & CEO, ISFC, said, “At ISFC, we’ve been committed to providing the best-in-class financing solutions to educational institutions across the country. We intend to rejuvenate schools with our new initiative to minimize the learning and earning loss in the education sector. I believe that in times of stress, the best strategy the schools can adopt is to be reduce debt burden as much as feasible. With fee financing, they can not only reduce the debt but also gain immediate liquidity. Moving forward, we intend to equip schools with best financing solutions for physical as well as digital infrastructural development.”
As per the research conducted by ISFC through Opportunity EduFinance, India’s school closure is amongst the highest in all the countries world over. It affects the learning and earning potential of the students. Under its Parent Education Program, the organization intends to impart the importance of learning through physical or digital mode. It will educate the parents on how school closure is widening the learning gap, gender inequality, rural and urban divide affecting students’ skills and future earning potential.