The startup offers students loans in dollars based on their future income at an interest rate between 9-11 per cent
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Studying abroad is still one of the dreams that Indians hold close to their hearts. Sending their children overseas, to get a better education and later get placed with a hefty package, way above what he/she would’ve earned in India, is still a picture that brings tears of joy to both parents as well as the child. India is the second-largest source of international students after China. As per UNESCO, in 2018, of the 5 million international students, 750,000 were from India. From 2000 to 2016, Indians going abroad to study has gone up by 22 per cent.
With all that said, going abroad is not like planning a vacation. It takes years of planning, figuring out colleges, applying for multiple tests and more importantly gathering humongous amounts of funds that are no match to even premium institutes in India, which is a taxing task. To address these tasks and provide a solution under one roof, two IIT alumni built Leap Finance. In an interaction with Entrepreneur India, Vaibhav Singh, co-founder of Leap Finance and Leap Scholar talks about what inspired them to build the startup and whether pandemic has killed the interest in overseas education. Continue reading “This Startup Provides Collateral-Free Loans To Indian Students Studying Abroad”