Avanse Financial Services, a leading non-banking financial company (NBFC) focused on education financing, has unveiled a powerful new initiative aimed at empowering women to take charge of their academic journeys. Through their #StartYourStory campaign, Avanse has introduced Swalaksh, an exclusive education loan product tailored to female students aspiring to pursue higher education abroad. This initiative highlights the company’s commitment to promoting financial independence, gender parity in education, and the realization of global academic dreams for young women.
At the core of Avanse’s #StartYourStory campaign is Swalaksh, an innovative education loan product created specifically to support female students aspiring to study overseas. This loan offering comes with several unique benefits, ensuring that female students are equipped with the financial means to pursue their academic ambitions.
Key features of Swalaksh include:
- Rate concession of 0.25%: Female students benefit from a special interest rate discount, making the loan more affordable for those seeking higher education abroad.
- Flat Rs. 10,000 processing fee: Avanse has introduced a minimal processing fee for female aspirants, ensuring a lower financial burden at the outset.
- Academic performance rewards: Female students who maintain an academic score of over 80% can avail benefits worth Rs. 10,000, incentivizing excellence in their studies.
- Post-education incentives: Female students achieving a CGPA of 3.5 or above will be rewarded with an additional Rs. 10,000 at the completion of their course.
- Waiver of EMIs: One of the standout features of the Swalaksh loan is the waiver of the last 12 Equated Monthly Instalments (EMIs), offering further financial relief during the repayment phase.
These attractive features are designed not only to ease the financial burden but also to encourage and celebrate the achievements of female students throughout their academic careers.
The #StartYourStory campaign represents a powerful message of empowerment, marking the beginning of a new chapter for women across the country. By offering Swalaksh, Avanse Financial Services is reaffirming its belief that education is a transformative tool for empowerment. Through this initiative, Avanse aims to provide women with the resources they need to pursue higher education without barriers, especially when it comes to financial constraints.
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The #StartYourStory campaign has been launched across Avanse’s social media and digital platforms to reach as many female aspirants as possible. With the help of digital marketing and collaborations with influencers who specialize in the study-abroad sector, the campaign is set to amplify the reach of this new offering, encouraging more women to consider studying overseas and making their academic dreams a reality.
Avanse Financial Services is actively contributing to India’s efforts to promote gender parity in education, especially in fields like STEM (Science, Technology, Engineering, and Mathematics). As the country strives to increase female representation in these critical areas, Avanse’s Swalaksh product is positioned as a key enabler for women to pursue courses that have been historically underrepresented by women, thus supporting the nation’s progressive vision.
Amit Gainda, Managing Director and CEO of Avanse Financial Services, emphasized, “Through Swalaksh, we aim to ensure that female students can independently finance their higher education overseas. Education is not just a tool for career growth; it’s a means of empowerment. This initiative reflects our commitment to providing more opportunities for women to pursue their academic aspirations and shape their futures.”
In line with the government’s focus on promoting women in STEM, Avanse is particularly keen on providing educational support to women interested in pursuing careers in these fields. With the backing of the Swalaksh loan, female students can explore opportunities in technology, engineering, and other high-demand sectors, which in turn will contribute to a more inclusive and progressive future for the nation.
Gainda further noted, “India’s push to promote women’s education is aligned with our vision of a progressive and inclusive nation. We believe that this initiative will empower female students to follow their academic ambitions, especially in STEM, and help them play an essential role in India’s journey to becoming one of the most developed nations by 2047.”
As of March 2024, Avanse has funded a notable percentage of female students, with approximately 30% of its total student loans being allocated to women. The company remains committed to increasing this figure, aiming to provide even more opportunities for female students to achieve their higher education dreams. Through initiatives like Swalaksh, Avanse hopes to continue breaking down barriers and fostering a more inclusive environment for women in education.