Continuing in our theme of Fintech for Bharat, this week we shift our focus to affordable education.
One of the most important enablers of upward mobility in society, is the access to affordable education. A recent survey conducted by the National Statistics Organization revealed that only 10.6% of the Indian population aged above 15 years had successfully completed a graduate degree. This proportion was only 5.7% in rural India. Affordability of quality education is one of the reasons for these low numbers. How does Fintech enable affordable access to good education?
To discuss this and more we caught up with Varun Chopra, co-founder and CEO of Eduvanz Financing Private Limited. In the episode we cover:
- Key trends in access to secondary and tertiary education in India
- Challenges that are faced in bringing affordability to education in Tier II and Tier III cities
- How addressing these challenges can help make FinTech more inclusive
- An overview of Eduvanz’s offerings
- Outlook for affordability of education
So tune in to learn everything you wanted to know about how Fintech is enabling access to affordable education.
Timeline
00:00 Start
01:08 Introduction
02:10 About Varun
06:25 Role of credit in making education affordable
12:31 Challenges in credit distribution outside of urban India
15:45 Income Share Agreement based models
17:57 Customer journey of new borrower on Eduvanz
21:00 Customer segments, products and uptake
25:54 Use of data and AI for smart credit decisioning
29:11 Impact of the pandemic
33:15 How to contact Eduvanz