Prodigy finance, Business

COVID-19 turned the education ecosystem on its head overnight causing a displacement around the world, and the overseas education sector was no different.According to data from the Ministry of External Affairs (MEA), the pandemic had resulted in a 55% dip in 2020 in the number of students who have gone abroad compared to 2019. Now, with a sense of normalcy returning with relaxations in visa processes and mass vaccination, the overseas education market is set to revive itself and the data from Prodigy Finance corroborates this.Prodigy Finance, a UK-based FinTech company that helps global students pursue their dream degrees at the world's best schools by providing collateral-free education loans for overseas applications, has observed 98% growth in study abroad loan applications in the first 3 months of 2022 vs the first 3 months of 2021.Of which, tier-II and tier-III cities including Vijayawada, Visakhapatnam, Guntur, Warangal and Tirupati among others have contributed 176% of this growth.Some other interesting insights from the report include -* The top 5 popular business schools for Indian applicants in 2021 were INSEAD, London Business School, IESE Business School, Wharton School, Booth School of Business.* The top 5 popular engineering schools for Indian applicants in 2021 were Northeastern University, Carnegie Mellon University, University of Texas at Arlington, Arizona State University, University at Buffalo.* The average loan amount for the study abroad applications was $42K.* Most preferred streams for studying abroad are Business, Engineering, Healthcare, Law, Public Policy and Science.* 67% of applicants were male while 33% of applications were female growing at a rate of 58% and 54% respectively.Commenting on the data report, Mayank Sharma, Country Head, Prodigy Finance said; "The Indian foreign education landscape has undergone a massive change in the post-COVID-19 era. With the opening up of international travel, easing of various restrictions and vaccinations being ramped up, the global education sector has started to pick up. The number of applications of Indian students for admission to foreign universities has gradually been on a rise."In nurturing students' dreams, Prodigy Finance has funded over USD $1 billion worth of student loans, for nearly 25,000 students from 130 nationalities worldwide and is backed by marquee investors such as Index Ventures and Balderton.This story is provided by BusinessWire India.will not be responsible in any way for the content of this article. (ANI/BusinessWire India)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Operation Sindoor

Pahalgam Terror Attack

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Prodigy FinanceFOLLOW

Prodigy finance, Latest News

Business :Adani Group stocks zooms 20% group's six other shares settle at upper price bands

Adani Group stocks surged on Monday, on the first day of trading after a Supreme Court-appointed panel's clean chit ... ...

Business :Amazon To Invest $12.7 Billion in India by 2030

Amazon Web Services on Thursday announced plans to invest USD 12.7 billion in cloud infrastructure in India by 2030 ... ...

Business :Want to study abroad, Here's your guide to get started

New Delhi [India], April 21 (/BusinessWire India): Studying abroad is a big deal. For many prospective students around the ... ...

Lifestyle :In his own words, Shagun Singh, a sensational entrepreneur dives deep into multiple business ventures

Entrepreneurs who are generational multi-talents come once in a lifetime. They are one of the few treasured personalities who ... ...

Maharashtra :Mumbai: Women arrested for poisoning husband with lover

Crime branch of Mumbai police has arrested a 46 year old woman, Kajal Shah, and her lover Hitesh Jain, ... ...

Business :Tier-II and Tier-III Cities lead the way for overseas education in the post-pandemic era, Prodigy Finance Data reveals

COVID-19 turned the education ecosystem on its head overnight causing a displacement around the world, and the overseas education sector was no different. ...