Education sector-focused non-banking financial company, Avanse Educational Loans, is aiming at a five-fold jump in its higher education loans this year at Rs 250 crore, up from Rs 50 crore last year.
Avanse, which is an arm of NBFC housing lender DHFL, said it planned to reach out to 2,500 students pan-India this year as against 600 it catered to last year.
According to it, the market size of higher education loans in the country is Rs 80,000 crore (both domestic and overseas), and was growing at 18 per cent every year.
The company said it was in the process of approaching banks for funding requirements. Neeraj Saxena, CEO of Avanse, said, "We have the potential to leverage around Rs 300 crore under the NBFC category."
The company today announced the launch of '5 Benefit Pack' in the Andhra Pradesh market for outbound students availing of its education loans.
The pack includes special telecom services, travel assistance and insurance, personal and etiquette training, luggage shopper and flight/ baggage discounts.
