Mumbai: Avanse Education Loans (Avanse), a new age education finance company and an affiliate company of DHFL, announced the launch of “Swalaksh” – A unique product that offers 5 % scholarship based on the tuition fee, to girls who are keen to pursue undergraduate and post graduate education across any preferred segment. The product is an industry-first within the private sector that will translate into a cashback advantage for students on successful completion of the identified course. This scholarship will be available to girl students who avail of an education loan from Avanse across India, that are offered at very competitive interest rates.
This endeavour reiterates Avanse’s vision of enabling education finance to seeking students who are academically inclined. This is one of the most unique products in the education finance space that aims to help students to continue higher education, work towards a career option of their choice and foster an academically empowered environment within the country.
A girl student with an inclination to study further, in addition to the credibility of the college and course, will be eligible to apply for the scholarship anywhere in India as well as overseas. For instance, based on a tuition fee of Rs. 20 lakh for any global institution, “Swalaksh” product will offer a 5% scholarship or Rs. 1 lakh cash back advantage, on completion of the course. This benefit becomes more compelling since it is over and above the competitive interest rates and flexible repayment plans, offered by Avanse Education Loans.
Around this development the company said, “The quantum of girls pursuing under graduate and post graduate education has been reflecting good growth. The launch of our product “Swalaksh” to commemorate Women’s Day is an endeavor to ensure continuation and sustenance of this positive trend. This product is to support girl students who are keen to further their interest in chosen fields and universities in a hassle free manner anywhere in India and globally.
About 25% of Avanse’s total loan portfolio comprises interest from academically inclined girls. The launch of “Swalaksh” is also in alignment to the Government’s active support towards education for girls with several key initiatives undertaken to uplift the education sector specifically like the ‘Beti Bacaho / Beti Padhao and Vidyalakshmi, STEP Scheme and NPEGEL initiatives. Our brand complements the education sector and engages with students and educators to metamorphose financial solutions that are new age and tailored for specific needs.”
Since its inception, Avanse has addressed to the growing need of holistic education finance for aspiring students and has been committed in fulfilling dreams of young India. Over and on top of funding streams like Engineering, Science, Technology, Management, Medicine, Health, Humanities, etc at the graduate (Masters’) as well as Undergraduate (Bachelors’) level, Avanse also provides 100% education finance to students applying for niche courses like Music, Dance, Image Consulting etc. With a hassle free education loan process, Avanse strives to approve the loan in a maximum of four days and provide loans upto 100% of the application amount, even as high as Rs 1 crore. Avanse provides students with flexible repayment plans, with repayment tenure up to 10 years (120 months) minimizing the burden on the student.