Washington: Nexford University, a Washington D.C. based, tech-enabled online university, announces a partnership with a Mumbai-based educational loan firm, Eduvanz, to bring affordable business education to Indian consumers.
The partnership will make educational loans more affordable and flexible for business students. Eduvanz will finance Nexford University’s MBA & BBA programmes for up to 36 months at zero interest rates. Learners can finish the programme as rapidly as they wish but repay over a much longer period. A learner could complete the programme in just 12 months and pay it back in over 24 months.
Research by the Global Business Coalition for Education shows over 50% of Indian students will not have skills for 21st-century jobs by 2030. It also shows 93% of the Indian workforce is part of the unorganized sector – lacking skills required by employers. Programmes at Nexford University are designed to deliver the skills that employers are actively looking for.
India is a fast-growing economy requiring business skills for the country to fulfil its huge potential. Acquiring these skills, whilst managing the global challenge of student debt, is the challenge Nexford and Eduvanz are attempting to solve.
Formed in 2019, and having recently raised $10.8 million in new funding, Nexford is 100% online and was founded on two beliefs:
A lack of education is the root cause of most world challenges; and
People should be able to access economic opportunities irrespective of physical location
From inception, Nexford’s vision was of a world moving towards a virtual talent grid. As internet connectivity increases worldwide, the only barrier to accessing economic opportunity should be skills. The right skills should provide access to this talent grid.
In 2020, Nexford grew by 300%, with learners enrolling from over 65 countries. Nexford is also partnered with Microsoft, LinkedIn Learning, and IBM to provide access to tools and courses to enrich the learning experience. Nexford’s curriculum is specifically designed to match employers’ needs with its graduates’ skills – leveraging machine learning and Artificial Intelligence to create a data and skills-driven curriculum.
Founded in 2016, Eduvanz recently raised $10 million in new funding. Its partners and investors include global leaders such as Accenture, Dell Foundation, and Citibank. To date, Eduvanz has distributed loans worth ₹380 crores to over 30,000 learners across India.
Fadl Al Tarzi, CEO of Nexford University, said:
“We are delighted to partner with Eduvanz. The Indian economy has huge growth potential but like many countries globally, its business students need a high-quality, yet affordable education providing skills employers need. We look forward to this partnership having a great impact in India.”
Mr. Raheel Shah, CBO, ,Eduvanz, commented:
“Being one of India’s leading lenders for learners we are committed to making education accessible. Our partnership with Nexford University is aligned to our mission and we are elated to join hands with them to make MBA and BBA more affordable for Indians.”