The top 5 states in terms of loan seekers are Maharashtra, Telangana, Andhra Pradesh, Karnataka and Tamil Nadu.
Over 75% of students aspiring to study abroad choose to opt for student loans as a way to finance their studies, regardless of the fall / spring admission season.
Mumbai, October 2, 2021: Yocket, a Mumbai-based Edu-tech company providing a one-stop solution for students planning to study abroad, announced that it has helped with 1000 Cr of funding to over 2500 students and working professionals. their dreams of studying abroad in USA, Canada, UK, Netherlands, Germany etc.
According to Yocket, the top 5 states in terms of loan applicants are Maharashtra, Telangana, Andhra Pradesh, Karnataka and Tamil Nadu. Notably, Yocket has partnered with 10 educational loan providers in various categories. Banks include Axis Bank and ICICI Bank. NBFCs have HDFC Credila, Avanse, Auxilo and InCred. The category of Fintech loan providers includes Leap Finance, Prodigy Finance and MPower Finance.
Students have shown more interest in moving to the United States for higher education. The total number of interests for Australia and New Zealand has declined significantly, but so far 2022 could be the most important year for the United States. This is due to its successful vaccination program from which students have gained a lot of confidence and are now opting for student loans to settle there.
âDespite the pandemic, fall 2021 was our biggest contribution to date, both in terms of student enrollments and student loan support. It is not surprising that almost 80-90% of students choose to avail of loans for their studies in USA, Canada and Europe, with the average amount of sanctioned loans being 40 lakhs. So, without a doubt, our initiative to facilitate loans of 1000 Cr to these students would bring them closer to several stages in the realization of their dream of studying in the university of their dreams abroad â, he adds. .
Today, Yocket not only provides advice for higher education, but a 360 Â° view from the GRE to the pre-screening of VISA applications to a soft landing. It also includes help with loans, Forex, accommodation and advice from experienced advisers who thoroughly assess the profile of students with an action plan to increase their chances of entering the university of their dreams. In 2019, Yocket launched an end-to-end personalized counseling service called Yocket Premium to help students every step of the way, from home to college. The startup has reached premium users in over 100 cities. And in terms of growth, Yocket has doubled its year-over-year revenue growth since 2018.
About Yocket: Mumbai-based Yocket was founded in 2015 and offers a one-stop solution for students planning to study abroad. The platform helps students placed in the university that best suits their profile and also helps universities reach the right kind of students. Even during the pandemic, Yocket was able to help aspiring youngsters visit other countries and continued to strengthen its base by adding new users to the platforms. Notably, Yocket recently announced its intention to expand its team to 300 employees by the end of 2021 amid a difficult pandemic. Of the 300 employees, the company plans to hire 120 talented minds by the end of the first quarter of 2021 (FY 21-22).