Hyderabad: With many parents facing the issue of paying the ever-growing school fees, educational institutions are coming forward to help them in financing options. Even as schools are getting reopened and students are trickling back to the institutes, the worry of arranging fees is also growing. Amid all this, more than 200 educational institutions in both the Telugu-speaking States are providing smart fee payment options.
These educational institutions in Telangana and Andhra Pradesh have collaborated with Financepeer to help parents pay their education fees by providing zero per cent interest loans.
The Mumbai-based startup which has its technology centre in T-Hub has seen a steep rise of 275 per cent in institutes extending their hands to collaborate with the platform. Institutes like ML Zee High School, Sri Gayatri Institute, Siva Sivani Group, ICBM, Narayana group of institutions are some of the institutes that have partnered with Financepeer.
The company also shared that more than 22 lakh parents/students from the two States have joined hands with Financepeer in the last two years. With the success of Financepeer in both the States, Financepeer is looking at AP and Telangana for further expansion and collaborations. Apart from the fee financing solution, Financepeer also offers insurance cover for the child’s education fees, in case of any adversity.
Financepeer CEO Rohit Gajbhiye said, “More than 1,000 educational institutes signed up with us during Covid-19 lockdown in 2020. Also, during the lockdown, many parents found our model supportive and attractive as they get convenience in fee payments.”
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