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Features of Avanse Financial Services School Funding

  • 1. Comprehensive School Fee Financing: Avanse provides education loans specifically designed to cover school fees and related expenses:
    • 100% Fee Coverage: Full coverage of tuition fees for recognized K-12 schools.
    • Digital Solutions: 'FeES' app enables paperless, quick processing of school fee loans.
    • No Margin Money: Parents don't need to pay any upfront amount.
    • Caution Deposits: Covers up to 10% of tuition fees for caution deposits with valid receipts.
  • 2. Loan Amount Flexibility:
    • No Upper Limit: Loan amount based on school fee structure and applicant's profile.
    • Customized Solutions: Tailored loan amounts to match specific school fee requirements.
Education Loan Promotion
    • Loans for Educational Institutions (B2B): Avanse offers loans to support private schools, K-12 establishments, coaching centers, and training institutes for infrastructure development and operational needs.
    • Coverage: Financing is provided for working capital, growth capital, and infrastructure expansion like building new facilities or upgrading existing ones. It also supports enhancement of the educational ecosystem.
    • Collateral-Free Options: Loans are available without collateral in certain cases, easing access to funds for private institutions.
    • Customized Solutions: Loan terms and repayment plans are customized to match the institution’s financial needs and structure.
    • Reach and Impact: Over 175 institutions funded, benefiting more than 5 lakh students across India.
    • Holistic Education Financing: Covers a broad range of education needs—from school fees to infrastructure—with support for test prep and skill development programs.
    • No Loan Amount Cap: No upper limit on loan amounts, subject to financial standing, academic profile, and course requirements.
    • Competitive Interest Rates: Floating rates calculated as Avanse Base Rate (14.55% as of 01.12.2024) + spread. Effective rates typically range from 10% to 16% p.a., based on credit and course profile.
    • Transparent Interest Calculations: Simple interest with monthly rest ensures clarity and transparency in repayment.
    • Flexible Repayment Options: Tenure options range from 12 months to 10 years. Moratorium period of 6 months post-course or 3 months post-employment may apply. Prepayment is allowed as per policy.
    • Hassle-Free Application Process: Minimal documentation, online form, and home visits offered by Avanse representatives. Pre-admission loans available for entrance exam fees and related costs.
    • Quick Disbursal: Unsecured loans disbursed within 4–6 working days post-document submission. Secured loans may take slightly longer.
    • Technology-Driven Approach: AI-based scorecards and automation tools enable efficient application review and lower default risk. Digital and hybrid distribution models enhance accessibility.
    • Focus on Inclusivity: Services available in major cities (Mumbai, Bangalore, Delhi, Chennai, Hyderabad, etc.) and Tier-II/III cities. Over 400 educational counselors partner with Avanse.
    • Social Impact: 30% of students funded are women. Supports initiatives like US DFC’s ‘2X Women’s Initiative.’
    • Additional Features: No margin money required—up to 100% financing available. Covers tuition, living expenses (up to 75%, capped at 20% of tuition), and caution deposits (up to 10% of tuition).
    • Regulatory Compliance: Avanse is an RBI-regulated NBFC. Investors include Warburg Pincus (80%) and IFC (20%).
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Benefits of Avanse Financial Services School Funding

  • For Parents: Affordable Access to Quality Education: Covers 100% of school fees, enabling parents to afford quality K-12 education without immediate financial strain. Flexible Repayment: Choose repayment tenures from 12 months to 10 years with customizable EMI plans. Digital Convenience: 'FeES' app provides paperless, quick processing with funds disbursed directly to schools.
  • For Educational Institutions: Infrastructure Development: Funds for new classrooms, labs, or facilities to enhance learning environment. Working Capital Support: Financial backing for operational expenses, staff salaries, and other running costs. Growth Capital: Resources to expand operations, admit more students, and improve educational offerings.
    • Infrastructure Development and Growth: Avanse’s Educational Institution Loans provide funds for infrastructure upgrades, such as new classrooms, labs, or facilities, enhancing the learning environment.
    • Collateral-Free Financing: Many loans are offered without requiring collateral, reducing barriers for private schools and institutes to secure funding.
    • Tailored Financial Solutions: Loans are customized to meet the specific needs of schools, such as funding for technology integration, staff training, or campus expansion.
    • Wider Student Reach: By improving infrastructure and resources, schools can attract more students, increasing enrollment and revenue.
    • Support for Diverse Educational Models: Avanse funds not only traditional K-12 schools but also coaching centers, vocational institutes, and skill development programs, fostering a holistic educational ecosystem.
    • Democratization of Education: Avanse’s funding solutions make quality education more accessible by addressing financial barriers for both parents and institutions.
    • Technology-Driven Efficiency: Avanse leverages AI and automated scorecards to streamline loan approvals, ensuring faster processing and lower default risks.
    • Social and Economic Impact: By funding education, Avanse contributes to human capital development, aligning with national goals for literacy and skill-building.
    • Regulatory Trust and Transparency: As an RBI-regulated NBFC, Avanse ensures secure and transparent lending practices, backed by reputable investors like Warburg Pincus and IFC.
    • Nationwide Accessibility: With branches in major cities like Mumbai, Delhi, Bangalore, and Chennai, and partnerships with over 400 educational counselors, Avanse ensures wide reach across India.
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How to Apply for Avanse School Funding

  • Step 1: Check Eligibility
    For Parents: Indian citizen with child in recognized K-12 school, stable income, and good credit history.
    For Institutions: Registered private schools/coaching centers with 2-3 years operational history.
  • Step 2: Gather Documents
    For Parents: ID proof, address proof, income documents, school fee structure.
    For Institutions: Registration certificates, financial statements, project proposals.
  • Step 3: Choose Application Method
    For Parents: Use 'FeES' app or Avanse website for digital application.
    For Institutions: Apply online or visit nearest Avanse branch.
  • Step 4: Loan Processing
    Avanse evaluates application using AI-driven scorecards.
    For parents: 4-6 working days for unsecured loans.
    For institutions: 7-15 working days for secured loans.
  • Step 5: Loan Agreement
    Sign agreement with terms including interest rate, tenure, and repayment schedule.
    Funds disbursed directly to school's account (for parents) or institution's account.
  • Step 6: Post-Disbursement
    Make repayments as per agreed schedule through various payment methods.

Eligibility Criteria for Avanse School Funding

  • For Parents: Indian citizen with child enrolled in recognized K-12 school. Typically salaried individuals (self-employed may qualify with additional documentation). Age between 21-65 years.
  • For Institutions: Registered private K-12 schools, coaching centers, or vocational institutes with 2-3 years operational history. Must be affiliated with recognized boards (CBSE, ICSE etc.).
  • Credit Score: For parents, strong credit history (CIBIL 700+) preferred. For institutions, stable financials with positive cash flow.
  • Income Requirements: For parents, stable income to service EMIs. For institutions, consistent revenue stream.
  • Documentation: Complete and accurate documents as per Avanse requirements.
  • Geographical Coverage: Available in major cities (Mumbai, Delhi, Bangalore etc.) and select Tier-II/III cities.
  • Co-applicant Requirement: For parents, having a co-applicant (spouse or guardian) with good financial standing can strengthen the application.
  • End-Use Clarity: Clear purpose of the loan (e.g., tuition fees, infrastructure development) must be specified and verifiable.
  • Minimum Loan Amount: A minimum threshold (as defined by Avanse) must be met for funding consideration, especially for institutions.
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Documents Required for Avanse School Funding

  • For Parents:
    • Identity Proof: Aadhaar, PAN, passport, or voter ID.
    • Address Proof: Aadhaar, utility bill, or rental agreement.
    • Income Proof: Salary slips (last 3 months), bank statements (last 6 months), or ITR (for self-employed).
    • Student Documents: School admission letter, fee structure, or fee receipt.
    • Photographs: Passport-sized photos of applicant.
  • For Institutions:
    • Registration certificate and trust/society documents.
    • PAN card and GST registration of institution.
    • Affiliation certificates (CBSE, ICSE etc.).
    • Audited financial statements (last 2-3 years).
    • Bank statements (last 6-12 months).
    • Detailed project proposal for fund utilization.

Factors Affecting Avanse School Funding Approval

  • For Parents: Credit score (CIBIL 700+ preferred), stable income, debt-to-income ratio, and complete documentation.
  • For Institutions: Financial health, operational history, student enrollment numbers, and project viability.
  • School Recognition: For parents, school must be recognized (CBSE, ICSE etc.). For institutions, proper affiliations required.
  • Loan Amount: For parents, based on fee structure. For institutions, based on financial capacity and project scope.
  • Repayment Capacity: Demonstrated ability to service the loan through income (parents) or revenue streams (institutions).
  • Documentation Quality: Complete and accurate documents speed up processing.
  • Technology Assessment: Avanse's AI-driven scorecards evaluate applications algorithmically.
  • Past Borrowing Behavior: A history of timely repayments on previous loans can positively influence approval chances for both parents and institutions.

Frequently Asked Questions (FAQs)

What is school funding by Avanse Financial Services?
Avanse offers financial solutions including:
- School Fee Financing: Loans for parents to cover K-12 school fees
- Educational Institution Loans: For private schools and coaching centers for infrastructure and working capital needs
Who can apply for Avanse school funding?
  • Parents/Guardians: Indian citizens with children in recognized K-12 schools
  • Educational Institutions: Registered private schools, coaching centers with 2-3 years operational history
What is the 'FeES' app?
The 'FeES' app is Avanse's digital platform developed with EarlySalary for school fee financing. It enables paperless applications with funds disbursed directly to schools.
What are the interest rates?
Floating rates ranging from 10% to 16% p.a., calculated as Avanse Base Rate (14.55% as of 01.12.2024) + Spread.
Is collateral required?
No collateral required for school fee financing for parents. For institutional loans, collateral may be required depending on loan amount and financial profile.
What is the processing time?
  • For parents: 4-6 working days for unsecured loans
  • For institutions: 7-15 working days for secured loans
What is the loan tenure?
Flexible tenures ranging from 12 months to 10 years based on applicant profile and loan amount.
How to contact Avanse?
Call customer service at 1800 2660 200 or email customercare@avanse.com. Visit nearest branch in major cities.
Is Avanse a regulated entity?
Yes, Avanse is an RBI-regulated NBFC, ensuring transparent and secure lending practices.

List of Avanse Financial Services School Funding Banks

  • Pre-school Education Funding
  • Primary School Education Funding
  • Secondary School Education Funding
  • Higher Secondary Education Funding
  • International School Education Funding
  • Special Education Funding
  • Vocational School Funding
  • Boarding School Education Funding
  • Extracurricular Program Funding
  • Digital Learning and EdTech Funding