Higher education service provider Sunstone has partnered with Non Banking Financial Companies (NBFCs), Propelid and Credenc, to provide easy education financing options for its network of undergraduate (UG) and post graduate (PG) students. The initiative is in line with Sunstone's objective of making education accessible for students across the country.
By opting for 0% interest EMI scheme, students stand to get several benefits. They will not have to pay interest on their EMI for the entirety of their programme. There is no additional loan processing fee attached with the scheme. The whole process is digital and designed in a manner to ensure fast approval of the loan. With Zero Interest, Zero Collaterals, Zero Processing fee, Zero physical documentation, and Zero hidden charges students can avail the loan at ease.
Speaking on the announcement, Piyush Nangru, Co-founder & COO, Sunstone said, "At Sunstone, we have always believed that financial limitations should not keep students from getting quality education that works for them. Education loan is a feared term in India and hence, the whole procedure is designed keeping the students’ convenience in mind. We have also setup a Finance Helpdesk at our offices in Gurugram and Bengaluru.”
Under Sunstone’s easy financing initiative, the 0% interest EMI scheme is available in three plans – Regular, Smart, and Shield. The three plans differ in the number of months for repayment of loan and allow students to choose the time span of loan repayment according to their suitability. While enrolling themselves at colleges with Sunstone edge, students can choose a plan that fits their financial needs. Students would only be required to make an initial low upfront down payment after which the monthly instalments on education loan would begin.
On the partnership, Brijesh Samantaray, co-founder, Propelld, said, "Our mission is to democratize education by removing the barriers to financial access through zero cost study loans."
Speaking on the association, Mayank Batheja, co- founder Credenc, said, “With Sunstone, Credenc shares a similar vision to provide access to education for students.”
The initiative has already been rolled out across all cities where campuses have Sunstone edge. Any student who has enrolled with the college in 2022 in undergraduate or post-graduate programmes can avail 0% interest EMI option to finance their education.