Edufi Financial Services (Pvt) Limited has launched the Study Now Pay Later (SNPL) initiative to achieve the educational goals established under Special Investment Facilitation Council (SIFC).
The Securities and Exchange Commission of Pakistan (SECP) has granted Non-Banking Financial Company (NBFC) license to Edufi Financial Services (Pvt) Ltd.
The initiative aims to reduce funding constraints and reliance on expensive commercial student loans for low-income students by offering financial aid through digital platforms.
Edufi Financial Services, which is a pioneer in this sector, is expected to transform education loan management in Pakistan. The company plans to develop a user-friendly digital interface that will streamline the application process and offer flexible payment plans to suit individual students’ financial circumstances.
Source: Radio Pakistan