28 Mar 2022 , 10:00 AM
Business Wire India
COVID-19 turned the education ecosystem on its head overnight causing a displacement around the world, and the overseas education sector was no different. According to data from the Ministry of External Affairs (MEA), the pandemic had resulted in a 55% dip in 2020 in the number of students who have gone abroad compared to 2019. Now, with a sense of normalcy returning with relaxations in visa processes and mass vaccination, the overseas education market is set to revive itself and the data from Prodigy Finance corroborates this.
Prodigy Finance, a UK-based FinTech company that helps global students pursue their dream degrees at the world’s best schools by providing collateral-free education loans for overseas applications, has observed 98% growth in study abroad loan applications in the first 3 months of 2022 vs the first 3 months of 2021. Of which, tier-II and tier-III cities including Vijayawada, Visakhapatnam, Guntur, Warangal and Tirupati among others have contributed 176% of this growth.
Some other interesting insights from the report include –
Commenting on the data report, Mr. Mayank Sharma, Country Head, Prodigy Finance said; “The Indian foreign education landscape has undergone a massive change in the post-COVID-19 era. With the opening up of international travel, easing of various restrictions and vaccinations being ramped up, the global education sector has started to pick up. The number of applications of Indian students for admission to foreign universities has gradually been on a rise.”
In nurturing students’ dreams, Prodigy Finance has funded over USD $1 billion worth of student loans, for nearly 25,000 students from 130 nationalities worldwide and is backed by marquee investors such as Index Ventures and Balderton.
About Prodigy Finance
Prodigy Finance, the UK-based FinTech company founded in 2007, wants to help global students pursue their dream degrees at the world’s best schools by providing collateral-free education loans. Their innovative and borderless model assesses you on your potential, not just your current circumstances and credit history. The entire loan process is online, from getting a quote to signing the loan agreement and all the way through to repayment. They offer loans for various masters courses across Business, STEM, Law, Health and Public Policy. The company has funded over USD 1 billion worth of student loans, for nearly 25,000 students from 130 nationalities worldwide and is backed by marquee investors such as Index Ventures and Balderton.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.