HDFC Credila Crosses the Mark of USD 1 Billion in Cumulative Disbursements of Education Loans

PR Newswire
August 24, 2018

HDFC Credila Financial Services Private Limited ('HDFC Credila'), is pleased to announce that it has crossed the mark of USD 1 Billion (in INR equivalent) in cumulative disbursements of education loans. HDFC Credila is India's First Dedicated Education Loan Company. It provides education loans to students for their higher education in India and abroad.

The cost of higher education has been rising over the years in India and abroad. It's getting increasingly difficult for the families to fund the higher education of their children with their family savings. HDFC Credila has, therefore, designed education loan solutions wherein parents don't have to put in margin money. Instead of that, if the loan is approved, HDFC Credila provides the option to avail up to 100% of the total cost of education as education loan. This facility empowers students and parents to fully fund their higher education and complete their entire course without taking any breaks to earn money or without creating a situation for the family, where they are forced to liquidate their assets to pay for the balance of the funds required for the higher education.

"With the mission 'To empower aspiring students to actualize their dreams of higher education' and with the vision to 'Transform lives and contribute towards the nation building', HDFC Credila, has so far funded over 41,500 Indian students who have been pursuing higher education in over 35 countries which include the USA, UK, Australia, Austria, Belgium, Canada, China, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, The Netherlands, New Zealand, Norway, The Philippines, Portugal, Russia, Singapore, South Korea, Spain, Sweden, Switzerland, Thailand, UAE, etc.," said Ajay Bohora, Co-founder and Managing Director of HDFC Credila.

"With the focus of HDFC Credila exclusively on education loans, it's quite an important and a significant milestone for the company to cross USD 1 Billion mark (in INR equivalent) in cumulative disbursements of education loans," added Ajay Bohora.

India is one of the youngest nations of the world. India has over 35 million students in higher education system studying in over 40,000 institutes across 864 universities in India. In addition, there are over 250 million students who are currently enrolled in K-12 (Kindergarten to Std. XII) education in India. Many of these students, who are currently in K-12, would pursue higher education over the years. Education loan is the second largest asset class in the USA. The education sector in India is poised to witness major growth in the years to come.

About HDFC Credila Financial Services Private Limited (HDFC Credila)

HDFC Credila, India's First Dedicated Education Loan Company, pioneered the concept of specialist Education Loan lender and became India's First Dedicated Education Loan Company. With specialized focus, in-depth understanding of the requirements of students who wish to pursue higher education, HDFC Credila offers customized education loans home delivered. HDFC Credila funds students for higher education in both India and overseas. The customized loan solutions, unique benefits and quick processes have made HDFC Credila a trusted and preferred brand of thousands of students, studying across over 35 countries.

Source : PR Newswire