Avanse Education Loans, an arm of Dewan Housing Finance Corporation Ltd, is targeting disbursal of ₹250 crore loans in the present financial year.
It will also offer loans to schools and colleges for development of education infrastructure from next month.
“This could involve loans to about 2,500 students. Last year, we had disbursed ₹50 crore loans,” Chief Executive Officer Neeraj Saxena said.
The one-and-a-half-year old company is one of the two non-banking finance companies operating in the education loan space along with Credila.
The company recently launched a five-benefit pack for students availing themselves of education loans for studies abroad to provide logistic and administrative support in a new country so that they could focus on their education. The benefits include telecom services, travel assistance, insurance, student cards and flight/baggage discounts.
The size of higher education market is estimated at ₹80,000 crore with 20 million enrolments for higher education, according to the Planning Commission data.