Mirae Asset Financial Services Joins Hands with GrayQuest to Simplify Education Fee Payments for Parents
Mirae Asset Financial Services teams up with GrayQuest to enhance their education fee payment solutions at Schools & Universities.
Parents can now pay their children’s annual school, college or university fees in easy monthly instalments – at no extra cost!
Mirae Asset Financial Services, the NBFC subsidiary under the Mirae Asset Financial Group has partnered with GrayQuest, a leading fintech player providing digital fee payment solutions for India’s education ecosystem. This strategic partnership is set to empower parents to pay their annual education fees in monthly instalments, instead of quarterly or annual payments.
The partnership allows GrayQuest to expand its solutions to more parents via schools & universities. Parents can now convert their child’s annual or term fees into up to 12 no-cost EMIs. Indian parents are estimated to spend upto 25% of their annual income on their children’s education fess. This payment option will help families convert their large, lumpsum education fee payments into convenient, easy monthly payments.
GrayQuest’s digital fee payment platform powers fee payment for 6500+ of India’s most renowned schools, colleges and universities. Parents interested in availing the monthly fee payment option can check with their respective educational institutions about the availability.
For Mirae Asset Financial Services, it is another significant step in their growth journey. This partnership allows the NBFC to add to their product offerings and provides an additional avenue to grow their loan book & revenues. Mirae Asset Financial Services has made a strong name for itself by offering secured loans like Loan Against Securities, and has recently launched personal loans in the unsecured space. With this new partnership, Mirae Asset Financial Services adds school fee financing to its range of loan products.
On this partnership, Krishna Kanhaiya, Chief Executive Officer (CEO) of Mirae Asset Financial Services said, “Education is one of the biggest and most important expenses for any parent today. We are happy to partner with GrayQuest to simplify this financial need with convenience and flexibility, and at no extra cost via this product. Our vision is to become a diversified NBFC powered by innovation, technology & transparency, and I am glad we are continuing in this direction by adding school fee financing to our product mix via this partnership.”
Rishab Mehta, founder & CEO, GrayQuest added, “We are excited to partner with Mirae Asset Group, a highly respected & trusted financial services franchise for millions of Indian families. This partnership will accelerate our mission to enhance accessibility, affordability and convenience in education fee payments for millions of parents across the country who aspire for the best quality of education for their children.“
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