Dewan Housing aims to expand education loan business
Dewan Housing plans to focus on students going abroad for studies as these involve bigger amounts
New Delhi: Dewan Housing Finance Corporation Ltd (DHFL) is aiming to expand its education loan business by focusing on students going abroad for studies as these involve bigger amounts.
A student going abroad may take a loan of ₹ 15 lakh on average compared with a third of that amount for those studying in India, according to Neeraj Saxena, business head of Avanse Financial Services Pvt. Ltd, the education finance company promoted by DHFL. More than 150,000 Indian students go abroad every year for higher education.
“If I want to target business and build some portfolio, I need to think of study abroad," said Saxena.
Avanse, launched in February, will aim to get at least half its revenue from students seeking to study abroad, Saxena said in an interview. It expects to build an education loan portfolio of ₹ 5,000 crore in five years, he said.
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