CHENNAI: Housing finance companies are not just targeting young professionals or double income couples with home loan offers. They have now expanded their reach to the growinguniverse of students aspiring for higher education.
What's driving the foray is the boom in professional courses. As per industry estimates, around Rs 80,000 crore was spent on higher education by Indians last year, most of it in pursuit of professional degrees. Currently, there are more than 15-16 million students in colleges and technical institutes across the country and an additional quarter of a million on campuses overseas. The sector is growing at 20%-22% annually.
In recent years, the loan business has also 'democratized' with takers from both upper as well as lower income groups.
What's driving the foray is the boom in professional courses. As per industry estimates, around Rs 80,000 crore was spent on higher education by Indians last year, most of it in pursuit of professional degrees. Currently, there are more than 15-16 million students in colleges and technical institutes across the country and an additional quarter of a million on campuses overseas. The sector is growing at 20%-22% annually.
In recent years, the loan business has also 'democratized' with takers from both upper as well as lower income groups.
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