Camu offers Student Education Loan Options from the Student App
Chennai, January 19, 2022 – Camu, a unified Student Information System and Learning Management Solution from Octoze Technologies Private Limited announced the launch of Student Loan options integrated into their Solution offering.
Camu has significant industry experience of having served over 1.2 Million students. “We realized that one of the barriers to enrollment was student funding”, says AR Swami, CEO, Camu. “Only 8% of the students believe that it is possible to get an education loan. Education loans have not been easy to get and are not tailored to the ground reality. So we wanted to remove this barrier to increase Institutional success.” In collaboration with a few Education Loan providers, multiple products have been structured to significantly increase the loan disbursement. Various products with options for an upfront payment of the entire fees to the Institution, personalised EMI and Loan tenure for the students, and Zero cost EMI options are on offer. Camu offers students the advantage of applying for an education loan directly from the student app. This helps students with a seamless and speedy loan process which will take as little as 6 hours depending on the application and provided documentation. The loan will be directly disbursed to the Institution upon approval. The students and the Institution can track the loan status in Camu.
“It was about time for such a feature to be introduced”, says Dr. Hariprakash, Additional Registrar, Bharath Institute for Higher Education and Research. “Everybody is aware of the hassles a student goes through when they apply for a loan. The option for the Institution to get the upfront fee payment will allow the Institution to focus on operations and improve the quality of education. The traditional loan process focussed on the parents’ credentials and documentation and would be rejected if it didn’t meet the criteria. This would unnecessarily derail a student’s future. Camu is offering products with a “pay it forward” approach, in which students’ credentials and employability potential become their qualifications.”
The Student Loan option from the student app is an insightful initiative that has evolved from Camu’s extensive experience with the student ecosystem. Camu offers loan products suitable for education with a personalized tenure starting at 3 months and going up to 10 years, and repayment plans. Camu has always placed the user at the center of product design and as a leading EdTech platform, believes in pre-empting their user’s needs. “We were one of the first to bring together as a comprehensive, world-class Student Information System and Learning Management Solution on a single platform”, says AR Swami, CEO, Camu “. We are going further to offer a variety of services to the students to help them pay for the tuition fees, complete their education and become employable.”
Camu’s roadmap is further echoed by Dr.Hariprakash, Additional Registrar, Bharath Ìnstitute of Higher Education and Research. “Till date, the approval of an education loan has solely relied upon the credentials of the parents. The student’s employability quotient was never considered. But the world is changing rapidly, and the current courses are being created to fulfill future employment needs. The chances of employment, and therefore loan repayment, have a higher success rate.”
Camu has partnered with multiple leading financial institutions that give credence to the students based on their institution and academic performance, while also considering the parents’ financial status.
