- | Monday | March 8, 2021
Empoweryouth.com, the career tech platform, is now offering educational loans for study in the states of Punjab and Himachal Pradesh. The organization has partnered with more than 60 colleges to help their students with the availability of educational loans. EmpowerYouth already has partnerships with ICICI, Avanse, Agile Finserv, Ez Capital, WePay, InCred etc. to service these loans and is in the process of signing additional banks and NBFCs.
EmpowerYouth believes in empowering youth to exercise their right to education by reaching out to the most marginalized student segment – the rural poor. Even if students are admitted to higher education institutions, they cannot meet the institutes’ fee requirements due to a lack of funds, as they often lack higher education. Currently, 90% of educational loan applications are denied due to incomplete documents or disinterest from organizations because the loan is too low or of very short duration.
EmpowerYouth has been able to fill this education accessibility gap by developing innovative educational loan products that help both students and colleges. On the empiryouth.com platform, the rejection rate of student loans for studies in India has fallen below 30%.
Any student who has secured admission to these 60 colleges can apply for a student loan using the many options available online at www.empoweryouth.com. The loan is available all year round for each year / semester that the student wishes to take the loan. This is usually not available on most websites.
“At kraftyouth.com, we found that a number of students from rural and semi-urban areas were unable to complete higher education, not because they were not admitted, but because they could not pay the fees or get access to education loans. We believe that no student should be denied an education just because he / she does not have access to funding, and access to education loans is our way of helping these students, ”said Shalya Gupta, Co-Founder and CEO of Empoweryouth. com.
The over 60 colleges that Empoweryouth.com has partnered with for this program include DAV College, Jalandhar, Apeejay Institute of Management and Engineering, Sri Aurobindo College of Commerce and Management, GNA University, Rayat Bahra University, DAVIET Jalandhar etc. EmpowerYouth has also teamed up with Bahra University, Shimla, for this service.
The educational loans on the empowerouth.com platform are available at rates between 0% and more, depending on the type of education and the repayment plan. The education loans can be accessed for the entire course for semester fees or annual fees in addition to the traditional education loan as needed. The repayment schedule can extend over 4 months to 10 years.
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