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As much as 70-72% of the students funded by Avanse Financial Services in 2023 belonged to tier II-III and beyond, said the education-focused nonbanking financial companys managing director and chief executive, Amit Gainda. He attributes the growing demand to aspiration among youngsters from the hinterlands to access foreign education and have a better standard of living.
Banks in India have proposed to the Reserve Bank of India (RBI) that the first unpaid education loan should be reclassified as 'standard' and have the repayment period extended. This proposal aims to help students who choose to gain work experience before pursuing higher studies. Currently, if a borrower partially repays an existing loan, it is classified as 'restructured', resulting in higher interest rates for borrowers taking out a fresh loan.
IDP has already established partnerships with ICICI Bank and HDFC Credila.
KOTA KINABALU: State-owned Yayasan Sabah is offering up to 25% discount in repayments of study loans, says its director Datuk Seri Gulamhaidar Khan Bahadar.
KOTA KINABALU: Sabah will support its students who are interested in pursuing a career in healthcare, says Datuk Seri Hajiji Noor.