Women today are changing the world with their intelligence, knowledge, leadership skills and inventions. We have witnessed influential women such as Kiran Mazumdar-Shaw and Indra Nooyi making significant contributions to the businesses. Let’s take a look at women’s literacy in India and how student loans support women’s education.
Key highlights:
- What is the Literacy Rate of Women in India?
- How Can Education Loans Help Enhance the Literacy Rate of Women in India?
- Some Fantastic Benefits of Student Loans
- Access Quality Education
- Credit Score
- Save your Savings
- Atmanirbhar
What is the Literacy Rate of Women in India?
Since independence, the female literacy rate in India has grown by 68% and reached a 77% mark as of 2023. Kerala, Lakshadweep and Mizoram are the top three most literate states in India. Shockingly, ~12% of students discontinue their educational journey early on in life. Female students drop out of their academic programmes more often than male students due to the high cost of education, which can affect female literacy in India. So, how do we overcome this barrier and enhance women’s literacy in India?
How Can Education Loans Help Enhance the Literacy Rate of Women in India?
Women can take student loans to finance their education independently. When women have access to quality education, the female literacy rate in India is expected to increase. You no longer have to depend on your parents to provide the funds for your educational journey. Whether you want to study in India or abroad, education loans are available for an extensive range of study programmes. Student loans are available for mainstream courses, such as STEM and MBA, as well as off-beat courses like Food Technology and for other skilling, upskilling, reskilling, and vocational programmes.
Also Read: Women Empowerment in Education: Why It Matters More Than Ever
Some Fantastic Benefits of Student Loans
Access Quality Education
Do you have a dream university in mind but are hesitant to apply due to the high cost of education? Don’t worry when you have an option to opt for a student loan. As a woman, don’t let the cost of education hold you back. You can now secure a spot at your preferred university with an education loan. With more women opting for student loans, women’s literacy in India is bound to increase.
Credit Score
You are at the stage in your life where you will eventually need other financial products, such as a home loan, car loan, or credit card. To avail of these financial solutions, you need to have a healthy credit score. When you repay your student loans responsibly, you build a good credit history, which can unlock several benefits when you opt for other financial products.
Save your Savings
Your parents put in a great deal of effort to build savings and also purchase assets. If you utilise these family savings or liquidate your assets, you will be left with nothing during the emergency. Instead, by taking an education loan, you can not only pursue your academic ambitions but also safeguard your savings.
Atmanirbhar
You can take pride in your self-made badge when you opt for education loans. You can pay off student loans with EMIs without depending on your parents. You can use an EMI calculator for education loan to understand your estimated monthly EMI. An education loan can effectively bridge the gap between your current financial situation and your academic aspirations.
At Avanse Financial Services, we take female literacy in India seriously. We launched SWALAKSH, a special education loan product for female higher education aspirants. You can benefit from interest rate concessions, flat processing fees and more. To know more, please click here. Let’s eradicate female illiteracy in India together.
We offer education loans for study abroad programmes as well as for courses in India. Our student loans cover the holistic cost of education, including 100% finance, quick loan sanctions, and flexible repayment options. If you have any questions, please don’t hesitate to share them with us. We will be glad to partner with you on your academic journey.
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