Student loans, student-special airfares and, now, travellers? cheques designed to make the lives of students a little easier. With the number of youngsters going abroad to study growing by the year, this consumer segment is increasingly getting noticed. The latest in the long list of student-oriented promotional plans is from American Express.

?The travellers cheques market is growing annually by about 15 to 20 per cent,? says Rajan Bhat, vice-president (travellers cheques), South Asia and Asean region of American Express. ?We?re now focussing on niche segments, like students going overseas for higher education, which is growing regularly. Indians like paper more than plastic, so they have an affinity for travellers? cheques. We?re converting cash users to travellers? cheques buyers, by tapping travellers directly.?

While the summer promotion for holiday-makers is coming to an end, the student plan will be launched on July 1.

The benefits include ease of use and encashment, quick refund if lost or stolen and the option of paying tuition fees directly, without encashing the travellers? cheque. Other perks include free gifts for those purchasing American Express travellers? cheques worth $1,500 and a slogan contest, four winners of which will get free round trips from overseas to home in India. In addition, the one per cent commission has been waived.

American Express had tied up with Thomas Cook last year, as a ?selling channel?. The company has also joined hands with private and public sector banks for this scheme, with access in any country. The promotion is designed for students going abroad to study for at least six months, particularly to the US, UK and Australia.

?They carry large sums of money, which is easily lost or stolen and often never found. But with travellers? cheques, there?s no loss in such a situation. It?s also better than demand drafts. The issue is of safety and security,? adds Bhat.

To promote the scheme, American Express has been participating in education fairs, and has also partnered with The United States Educational Foundation in India and the British Council. ?We?re reaching out to students at all levels,? sums up the vice-president.