Loan Approval Based on Student’s Potential
In today’s incredibly competitive educational environment, obtaining a student loan often appears to be a daunting task. Traditional lenders frequently focus on a student’s history—particularly their credit score and academic achievements.
However, at Propelld, we champion a more expansive viewpoint (which includes factors beyond mere history) by assessing a student’s potential for future success. This comprehensive method of loan approval aims to enable students to chase their educational goals.
Not just the past, we look at the future too. Yes, a good academic record helps you get a loan approved easily, sometimes at a discounted interest rate too. But, in addition to that, we also look at your future potential. We consider your college, course and the placement records too while approving your loan.
Focus on Historical Data
Traditionally, lenders have relied on past performance metrics such as credit scores, income levels, and academic achievements to determine eligibility for student loans. While these factors provide insight into a borrower’s financial responsibility, they do not paint the full picture of a student’s potential. For many deserving students, particularly those from lower socio-economic backgrounds, this method can be limiting and discouraging.
Challenges Faced by Students
This traditional approach can create barriers for capable students who may not have strong credit histories or come from financially stable backgrounds. Many bright individuals are left without options simply because they do not fit into the conventional mold of what a “qualified borrower” should look like. This scenario is not just unfair; it can hinder the educational aspirations of talented individuals.
A New Perspective Assessing Future Potential
Beyond Academic Records
At Propelld, we recognize that a student’s past does not define their future. While a good academic record can certainly help in securing a loan—often at a discounted interest rate—we look beyond grades and test scores. Our assessment includes a comprehensive evaluation of the student's future potential.
Key Factors We Consider
1. Academic Records: Includes marks of all previous education; for graduation, we particularly consider Class 12th marks. The academic history helps assess a student's commitment and consistency, which are key factors in loan eligibility.
2. Choice of College: The reputation and ranking of the college play a significant role in determining a student’s future opportunities. A well-regarded institution often has better placement records and industry connections, which can significantly enhance a student’s job prospects after graduation.
3. Course Selection: Different courses have varying potential for future employment and salary. For instance, degrees in high-demand fields such as technology, healthcare, or engineering may provide more favorable outcomes, making those students more attractive candidates for loan approval.
4. Placement Records: We also analyze the placement statistics of specific courses and colleges. Strong placement records indicate that graduates are successfully entering the workforce, which enhances a borrower’s likelihood of repaying their loans.
The Benefits of This Inclusive Approach
By adopting this holistic view of loan approval, Propelld aims to:
1. Encourage Diverse Talent: Our model promotes inclusivity, allowing students from diverse backgrounds and disciplines to access funding for their education.
2. Support Ambitious Students: We believe in nurturing ambition and recognizing that potential is often rooted in hard work, determination, and the right educational environment.
3. Foster Success: By investing in students based on their future potential, we contribute to a cycle of success that not only benefits individuals but also enriches communities and the economy.
Propelld: Leading the Change in Student Loans
1. A Commitment to Empowerment
Propelld is committed to revolutionizing the student loan process by placing emphasis on a borrower’s potential rather than solely their past. Our innovative approach not only helps students secure the funding they need but also empowers them to pursue their goals without fear of financial barriers.
2. Support Throughout the Journey
In addition to our unique approval process, Propelld provides ongoing support and resources, including financial literacy programs and career counseling, ensuring that students are well-equipped to navigate their educational and professional journeys.
Loan approval based on a student’s potential is a progressive step toward creating a more equitable and supportive educational financing system. By considering factors such as college choice, course selection, and placement records, Propelld is setting a new standard in the industry. We believe that every student deserves the opportunity to pursue their dreams, and our approach is designed to make that a reality.
