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Several reputed Indian loan firms and banks are facing challenges due to the Trump administration’s inflexible immigration policies. These policies are impacting loan disbursements for students heading to the U.S.
Lenders are tightening checks amid growing concerns over repayment risks, leading to a decline in loan applications. Along with banks, top NBFCs, which are the new-age financial firms, operate in the education lending sector across the country.
Applications for US education loans have halved when compared with the last few years. The US business will decline even more if the Trump administration’s tough immigration policies.
On the other side, the huge demand to study in other foreign countries like the UK, Australia, New Zealand, Ireland, and Canada will set the stage to prepare regulatory models that allow the students the flexibility to recover loan payments.
However, education loans for the United States of America are still being granted, but the approval rates have tightened for applicants.
