‘2021 will set the tone for modern-day EDUCATION'

Amongst many industries, the education industry was the one which was affected the most due to Covid-19 last year and the effects can still be seen.

From classrooms to online education, everything changed for the schools as well as the kids. Financepeer helped in making sure that no one is deprived of education at this time due to financial pressure. Their fee financing program helped more than 1 million people to get an education even during the difficult year of 2020. Sunit Gajbhiye, cofounder, Financepeer tells us about how 2020 affected the education industry and Financepeer helped both schools as well as parents.

Last year was hard for many, how was it for you?

Last year was challenging for the entire world and the education industry got affected severely leading to the change in SOPs and the problem of fund flow in the education system. This was the time when the fee financing model came as a rescue for both schools and parents. Financepeer witnessed exponential growth during this period and our reach of fee financing disbursals surpassed 1 million marks.

How did it affect the education industry?

The impact on the education industry was unprecedented and it resulted in the industry resorting to newer dynamics with online education taking the driving seat. The liquidity in the education engine led to a crisis-like situation as both parents and schools witnessed a shortage of funds. Entire education landscape has seen a change and now hybrid mode of education will become new normal.