Over 40 percent of students in non-premium institutions in India either delay or default on their tuition fees due to a lack of financial support, according to Flashaid's research. This issue has become particularly pressing as India's education system faces significant affordability challenges.
India’s education sector is grappling with rising costs, and 44 percent of Indian parents report facing fee hikes of 50 percent to 80% over the last three years. Education inflation is running at 11 percent to 12 percent, well above the national average for consumer inflation, according to a LocalCircles survey. This is particularly concerning for families in Tier 2 and Tier 3 regions where access to affordable financial support is limited. Given the same, Flashaid has introduced Flashaid Smart Fee, a loan-free, auto-EMI-based tuition payment solution designed to make education more accessible for students across India. This innovative platform enables colleges, coaching centres, and vocational institutions to offer flexible fee payment plans without the burden of interest or lengthy approval processes.
In this context, Flashaid Smart Fee is developed to bridge the financial gap, especially for students in Tier-2 cities who often struggle to pay their tuition fees due to difficulties in securing traditional bank loans. By offering an easy, loan-free solution with automated EMI payments, Flashaid Smart Fee makes education accessible to a wider pool of students, while also helping institutions streamline their fee collection process.
Why Flashaid Smart Fee?
Flashaid Smart Fee is uniquely positioned to address these gaps, offering an easy, automated solution for students and institutions alike:
1. Ease of Access: No credit checks, bank guarantees, or paperwork required.
2. Insurance-Backed Protection: Ensures steady cash flow for institutions, with fee protection in case of unforeseen events like job loss, disability, or death.
3. Automated Payments: UPI/NACH integration reduces manual follow-ups and operational costs, ensuring timely fee collection.
3 Types of Students Who Benefit:
- Students from unstructured employment backgrounds (freelancers, gig workers)
- First-generation learners with no access to financial support
- Students in tier-2 cities are unable to avail of traditional loans due to a lack of credit history
“Education should be a stepping stone, not a stumbling block. Yet today, millions of students are being forced to choose between aspiration and affordability. With Flashaid Smart Fee, we’re not just offering a payment solution, we’re creating a financial safety net that empowers families to invest in education without fear or compromise. This is about unlocking opportunity, one EMI at a time”, says, Manoj Gupta, Founder & CEO, Flashaid.
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With the potential to increase admissions by up to 25 percent, Flashaid Smart Fee is set to redefine how India’s education ecosystem handles tuition fees, providing a brighter future for students and educational institutions alike.
Source : Press Release
