Sumeet Chopra, head of business development and operations of Student Cover, says the company is looking to increase its partnerships as they continue on their journey.
Sumeet Chopra, head of business development and operations of Student Cover, says the company is looking to increase its partnerships as they continue on their journey.
Student Cover, an online platform for study-abroad aspirants, is aiming to disburse Rs2000 crores (about $2.4 billion) in student loans during the 2023-24 academic year.
The online platform achieved a milestone by disbursing Rs500 crores (about $607 million) in loans as an NFBC direct seller for the 2022-23 academic year. This new goal will open educational possibilities for students who had previously faced financial limits to quality higher education abroad.
In 2016, Student Cover revolutionized the education loan market by introducing a guidance approach used in their student insurance plans. This helped to bridge the gap between demand and supply in the sector.
Student Cover offers an extensive guidance approach for study abroad aspirants, providing benefits such as non-collateral loans up to 75 lakhs (about $91,000) with a low ROI, flexible repayment options, and fast processing times.
The company also leads in student health insurance, providing exclusive products such as International Student Insurance, F1-OPT Insurance, Travel Insurance, and Parents Travel Insurance among others. These help aspirants make informed decisions when studying abroad. They give valuable information to navigate the complexities of foreign study.
Sumeet Chopra, Head of Business Development and Operations and Student Cover co-founder, said they are now looking to increase their partnerships as they continue on their journey. “We have completed seven glorious years in the business and our principal driving force has been the satisfactory student feedback we have received. On Google, we have over a thousand reviews where students placed and studying abroad have expressed their utmost gratitude and appreciation for us. With the experience gathered and after completing another successful year in the business, we are looking forward to reach our target numbers smoothly with many more collaborations ahead,” he said.
The Indian government recently announced the introduction of a Skill India Passport, which will provide skilled youth leaving the country for work with both a passport and a certificate of skill training, marking the first time that skilled citizens have been given such an opportunity. The move is intended to improve employment opportunities for young Indians abroad.
