Rang
De Education
Rang De Education aims to address the need of students from low income households who are forced to drop out of school as they are not able to afford the yearly fees.The education loans will be available just before the beginning of the academic year (June) and will be routed through our field partners, similar to our income generation loans.
Rang De Education loans for school students can be availed by their parents. The loan amount will be an amount higher than the school fee to allow for purchase of uniforms and the stationery required. The loans are not given to the parents directly. Instead, a voucher is given to schools through our field partners to ensure that loans are used for education only.
Education loans will be provided at 5% flat p.a. The interest rate break up on our education loans is as follows.
- 4% of the interest is for the field partner to cover their operation costs
- 1% of the interest is for Rang De to cover our operation costs.
- The social investor gets back the principal and does not earn a financial return.
