Growth in the EdTech Sector and Government Initiatives to Promote Online Learning is driving the Indian EduFin industry forward: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit 1. EduFin Industry has witnessed a Strong Growth Trajectory, which is backed by Funding from Prominent VC firms. To Know More on this report, Download free Sample Report Over the last several decades, parents have been more reliant on loans to fund their children’s education. The shift in thinking toward ‘Study Now, Pay Later’ has aided the nation’s economy and accelerated the pace of digitization. Moreover, the Covid-19 epidemic has expedited the implementation of technology in India’s education system, which has usually been sluggish. Learners in India have prioritized learning and upskilling in order to capitalize on possibilities. EduFin firms have been crucial in leveling the playing field by giving loans without collateral, genuinely empowering the young, particularly in Tier 2 and 3 cities where the loan disbursal process comprised cumbersome formalities that discouraged applicants from accessing the same. 2. Education loan segment has seen noticeable buzz in the past couple of years. To more about industry trends, Request a free Expert call Students and parents are increasingly favoring SNPL, zero-cost, and seamless pay-later solutions in the education finance market. In contrast to traditional choices, there is a rising number of unique customer-centric education finance programs. Additionally, PMVLK is a one-of-a-kind platform for students looking for education loans. It offers students a single-window electronic platform for information access and prepares applications for Educational Loans and Government Scholarships. This program seeks to include all banks that offer educational loans. This government effort is anticipated to help students across the country by providing a single point of entry to various Educational Loan Schemes offered by all banks. Furthermore, in the last 18-24 months, a new crop of startups, digital lenders, and NBFCs have attempted to fill the void in the education finance space by offering flexible loans at low or zero interest rates, admissions, and career counseling support, and a ‘Study Now, Pay Later’ option – an extension of FinTech’s popular ‘Buy Now, Pay Later. 3. Impact of COVID-19 resulted in a shift in preference towards EdTech courses leading to a boost in the EduFin industry. Visit this Link Request for custom report Several prominent EdTech learning platforms in India gave free trial access to their learning content at the start of the epidemic, resulting in a 103% increase in income in FY2021. Due to the closure of schools and physical coaching/test preparation centers, the user base, reach, and engagement on these learning platforms rose dramatically. Several major firms quickly expanded their product categories and capacities through organic and inorganic means. Additionally, the National Education Policy 2020 (NEP) places an emphasis on technology and the development of e-courses. To encourage online learning in India, government programs such as SWAYAM and DIKSHA have been created. Furthermore, in FY’2021, EduFin firms saw a 114% increase in loan amount disbursal, with an emphasis on tie-ups with prominent EdTech organizations to build a strong hold on the sector. Due to the epidemic, EduFin players such as Eduvanz and Propelld imposed a halt on EMI payments for term loans/interest deferral. However, because of the increased acceptance of EdTech courses/platforms, Covid-19 has advanced the EduFin sector by at least 3-4 years. 4. EduFin Industry offers huge growth potential owing to the rapid adoption of the EdTech sector in India New entrepreneurs are set to enter the EduFin market, funded by debt funding from VC firms. Partnerships with EdTech firms are intended to strengthen the company’s position in the market. In addition to this, the rise of FinTech businesses in the education sector will accelerate the country’s digitalization by encouraging more individuals to pursue high-quality education. Despite the severe impact of the Covid-19 outbreak on the country’s economy, the digital financial sector has expanded. While the epidemic has expedited the acceptance and use of digital financing, the delicate line between FinTech and banks is gradually blurring. Furthermore, many companies are in the process of launching their credit card for learners and students and aim to become the go-to financing solution for learners in all categories. 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