• ECCE
  • School Edu
  • Higher Edu
  • Edu Tech
  • Skills
  • Jobs
  • Advertise
  • Login
[t4b-ticker]
  • Home
  • Latest
  • Spotlight
  • Perspective
  • Interview
  • Videos
  • Events
  • Shop
  • Student Kiosk
No Result
View All Result
  • Home
  • Latest
  • Spotlight
  • Perspective
  • Interview
  • Videos
  • Events
  • Shop
  • Student Kiosk
No Result
View All Result
Education21
Home Perspective

University-Fintech collaborations are innovative ways to manage student educational debt

education by education
September 28, 2023
in Perspective
0
University-Fintech collaborations are innovative ways to manage student educational debt
0
SHARES
64
VIEWS
Share on FacebookShare on Twitter

By Brijesh Samantaray, co-founder  Propelld

One of the pressing issues of our time is the rising burden of educational debts. As the cost of education continues to escalate, students are increasingly turning to loans to finance their studies. This has led to a generation burdened with substantial debt before they even embark on their careers. Modern financial solutions are needed to address this problem.

The challenges posed by traditional banking’s limitations are inspiring the development of modern financial solutions that are better equipped to meet the needs of today’s society. Whether through the evolution of public and private banks, innovative approaches to addressing educational debts, or strategic partnerships between universities and fintech companies, the financial landscape is undergoing a transformative shift toward increased accessibility, efficiency, and individual empowerment.

Alternative lending platforms, often driven by fintech companies and NBFCs, are exploring innovative ways to provide students with manageable loans and repayment terms. Income-based repayment models, where loan payments are tied to earnings, are gaining traction as a more equitable approach to tackling educational debt.

A promising development in the realm of modern financial solutions is the emergence of partnerships between universities and fintech companies. These collaborations are proving to be instrumental in reshaping the landscape of student loans and financial support.

Here’s how these partnerships are revolutionizing the student lending experience:

Customized Loan Options: Fintech companies, in collaboration with universities, are designing loan products tailored to the specific needs of students. These loans might include flexible repayment terms, lower interest rates, and even repayment pauses during periods of financial hardship. Also, the idea of collateral-free loans is a relief for parents/students.

Leveraging Financial Technology: By harnessing the power of financial technology, these partnerships enable streamlined application processes and rapid disbursement of funds. This ensures that students can access the funds they need when they need them the most.

Enhanced Financial Literacy: University-fintech partnerships often incorporate financial literacy programs into their offerings. Students receive guidance on responsible borrowing, budgeting, and debt management, equipping them with essential financial skills for life.

 Data-Driven Decision Making: Fintech platforms can leverage data analytics to assess a student’s financial profile and risk potential accurately. This allows for fairer and more informed lending decisions. Fintechs are also deviating from the traditional underwriting model to also take into consideration the academic excellence of the student while evaluating their creditworthiness.

  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
  • RSS Feed
Previous Post

Bybit and DMCC Crypto Centre announce a Million-Dollar Hackathon to Drive Web3 Innovation in Dubai

Next Post

Battle of Minds – The Indian Army Quiz 2023 – on the way to become World’s Largest Inter-School Quiz Competition

education

education

Related Posts

Education: The Missing Link in Our Climate Agenda
Perspective

Education: The Missing Link in Our Climate Agenda

by education
June 5, 2025
NATIONAL SCIENCE DAY SPECIAL: The Crucial Role of STEM Education in Shaping the Future
Perspective

NATIONAL SCIENCE DAY SPECIAL: The Crucial Role of STEM Education in Shaping the Future

by education
February 28, 2025
The Need for Specialized Market Certifications in the Era of Financial Transformation
Perspective

The Need for Specialized Market Certifications in the Era of Financial Transformation

by education
February 20, 2025
Holistic Education for Future: The Role of Curriculum in Integrating Life Skills, Creativity, and Innovation
Perspective

Holistic Education for Future: The Role of Curriculum in Integrating Life Skills, Creativity, and Innovation

by education
January 4, 2025
The Need for Toddler Transition Programs in India
ECCE

The Need for Toddler Transition Programs in India

by education
December 11, 2024
Next Post
Battle of Minds – The Indian Army Quiz 2023 – on the way to become World’s Largest Inter-School Quiz Competition

Battle of Minds – The Indian Army Quiz 2023 – on the way to become World’s Largest Inter-School Quiz Competition

  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
  • RSS Feed

Useful Announcements

  • All
  • Useful Announcements

ETS Launches GET 2025 to Redefine Employability Measurement at Scale

July 15, 2025
Vivekanand Education Society Tulsi Technical Institute launches Paramedical UG Programs with SCOPE

Vivekanand Education Society Tulsi Technical Institute launches Paramedical UG Programs with SCOPE

July 15, 2025
Youth Spiritual Summit’ in Varanasi, from July 18 to 20, 2025

Youth Spiritual Summit’ in Varanasi, from July 18 to 20, 2025

July 14, 2025

IIITD Innovation & Incubation Centre and HORIBA India to Host ‘Hack4Health 2025’ on July 15–16

July 11, 2025

Zamit Launches IELTS Preparation Platform

July 11, 2025

IIM Lucknow launches blended MBA (bMBA) Program for Mid-Career Leaders

July 11, 2025

Pearson announces global enhancements to PTE Academic

July 11, 2025
IDL to host the inaugural Indian Invitational for the Harvard College Debating Union World Schools

IDL to host the inaugural Indian Invitational for the Harvard College Debating Union World Schools

July 10, 2025

ACCA launches national level business case study challenge for aspiring finance professionals

July 10, 2025

XAT 2026 Applications to open on July 10

July 10, 2025

Download current issue Not available

https://online.pubhtml5.com/jlyo/bxvr/

Monthly Magazine : Feb 2024

Interactive (Quizzes/Surveys)

Start Monthly Quiz
Education21

An initiative in continuation of Curriculum Magazine, Education21.in, is a platform for New India that aspires to be a valuable innovator, partner and collaborator for a just and sustainable world. Continuing with our steady and 360 degree coverage of education system and skills landscape, we are here more oriented towards learner community.

Useful Links

  • About us
  • Team
  • Contact
  • Editorial opportunities
  • Subscriptions
  • Job Opportunities
  • Features

Important Links

  • Blog
  • Archives
  • People
  • Careerwise
  • Resources
  • Downloadable
  • Old issues

Newsletter

Subscribe to our mailing list to receives daily updates!

  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
  • RSS Feed

Copyright © 2020 All rights reserved. Education21.

No Result
View All Result
  • Home
  • Latest
  • Spotlight
  • Perspective
  • Interview
  • Videos
  • Events
  • Shop
  • Student Kiosk

Copyright © 2020 All rights reserved. Education21.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In