The year 2020 saw the immense impact of the pandemic across the globe. The academic progress of around 1.3 billion learners was affected by the coronavirus pandemic. In a country like India where almost 50% of the total population is under the age of 25, educational institutions being temporarily shut down has been a problem, especially for those who have applied for student loans.
However, as with any challenge faced by humanity, we have always managed to overcome them as a society. This particular problem was dealt with effectively, thanks to the advancements that we have made in the field of technology. The memorable change of physical to online classes in the year 2020 will always be a significant mark in our history.
By the end of March 2020, all the safety protocols for the coronavirus pandemic were in place. Since students could not step out of their homes, online learning became the only way in which they could keep on continuing with their education. After online learning methods were inculcated, parents finally saw the usefulness of the technology.
Research indicates that 75% of parents are happy to let their children continue with digital learning even after schools resume regularly. Even teachers, who have for so many years taught in physical classrooms, have got a grip on the digital way of conducting their classes. This major shift for all stakeholders in the learning process has been instrumental for the field of education.
Learning through digital tools was initially a stop-gap solution to maintain the continuity of students’ academic progress. However, this method of learning might be a key factor in establishing long-term efficiency in education. This is because digital learning helps in tackling two major challenges in our country, which are effectiveness and accessibility.
Of course, this is not an overnight change. However, this change plays an integral part in the long-term benefits it will bring to the country with respect to education. Out of 600 million internet users in India, 227 million users are from rural India. With this increased connectivity, the goal is to make sure that education is accessible in every corner of the country.
Well, now that we have seen how effective online learning is, the question is, will it replace the traditional school? No, it won’t. Many students still apply for student loans to pursue certain subjects and programs that can only be learned with hands-on experience, such as social skills, working in a team, and other important aspects. However, what could become the new normal is a blend of both methods of learning. With students growing familiar with both online and offline learning, holistic, all-round development becomes a driving force.
If this has been a good read, stay tuned as we at Avanse will work towards bringing more of such blogs. If you ever need a student loan or want to learn how an education loan works, do get in touch with us and we will be happy to help!
We always aim to offer you competitive interest rates on your Avanse Education loan.
The rate of interest on your loan is calculated as: Interest Rate = Avanse Base Rate + Spread.
Our current Base Rate is 14.25% (WEF 01.05.2023).
The Spread is floating and is based on analysis of overall credit and course profiling.
This rate is subject to the terms and conditions of Avanse Financial Services Ltd.