Why there is a strong demand for student loans despite the pandemic?

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Why there is a strong demand for student loans
despite the pandemic?
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(No Transcript)
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• Even though there was a clear transition from
  traditional classroom instruction to online
  learning, the marketing of online degree pro
  programs did not lead to a decrease in tuition
  costs.
• The lives of those close to us have been
  significantly impacted and changed as a result of
  the epidemic. Most notably, it has altered how
  people seek out school and altered how people
  borrow money for student loans. Despite the
  COVID-19 issue, more Indian students than ever
  before are deciding to pursue higher education.

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• During the COVID wave, there was a rise in
  student loan debt The number of students
  enrolling in higher education climbed by Rs 12
  lakhs, or 4, between 2019 and in accordance with
  the All-India Survey on Higher Education, 2020.
  Due to this surge and the nation's rising
  educational costs, there has been a steady rise
  in the demand for student loans.
• For example, at a time when many parents are
  seeing salary decreases at work, the rising cost
  of education has made it difficult for parents to
  invest in their children's education. Parents'
  finances have been further strained by the
  epidemic, which has increased demand for
  financing options to pay for educational-related
  expenses. According to estimates, 1 in 10 college
  students still had difficulty paying their
  tuition after their first year.

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• Universities had to make infrastructure
  investments to enable this delivery, therefore
  the cost was passed on to the students, which
  increased the need for student loans.
• The number of students who want to define their
  careers by studying abroad is increasing, despite
  the epidemic. The price of studying abroad is
  still high. More people are likely to spend money
  on such expensive courses abroad in the future
  years. Studies predict that by 2024, foreign
  education spending will have increased from its
  present level of USD 30 billion to USD 90
  billion. A rise in student outbound queries has
  also been observed by lenders of student loans.

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• Over the past two years, there has been a steady
  rise in the number of people enrolling in
  executive education programs, which suggests a
  growing need for executive training or
  up-skilling. The necessity for a highly qualified
  and technological workforce has grown as a result
  of the epidemic. Given the surge of new jobs and
  the creation of new methods for increasing
  business growth, education is the only way to
  remain relevant to the changing work profiles.
• Today's aspirants want to better themselves,
  whether it is through executive education courses
  or short-term upskilling courses.
  Buy-now-pay-later finance arrangements enable
  4050 of upskilling course attendance

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• The possibility of the majority of students
  completing their education online from home
  during the pandemic has led to an upsurge in
  students enrolling in a variety of courses.
• The demand will continue to be strong because of
  the high cost of the most sought-after higher
  education programs and the fact that the majority
  of Indian households still place high importance
  on education.

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