REVAMP FINANCIAL SYSTEMS Sample Clauses

REVAMP FINANCIAL SYSTEMS. The system of ISA is noted to have the potential to fill up certain gaps that exist in the financial aid system. Financial aids available for education at present are largely limited to bank loans, scholarships from the government, NGOs, and other bodies. Xxxxxxx (2018) finds that three out of four post- secondary students in the US have faced financial difficulties and unmet financial requirements during their period of study. Students’ demand for educational loans has never been met by the existing financial aid system vis, bank loans, which is true even for developing nations. Student loans provided by banks in India have shrunk by 3.5% in 2019. With the student debts rising to unprecedented levels transcending to be NPAs and total funds available for lending plummeting, the financial aid system is in need to explore larger sources of funds. Here is where ISA can bring in an unexplored source into the financial aid market, acting as a blended model to bring in private capital to a realm of social importance. Unlike bank loans and scholarships, XXX also tap in philanthropic and corporate funds to the system as financial aid. Along with solving the inadequacy of funds, ISA also fill up disparities in the availability of resources and ensure equitable availability of opportunity. Xxxxx Xxxxxx, the head of Finance at a college in rural Pennsylvania, USA, has pointed out that ISA is a tool that helps them to aid students, who were otherwise unable to afford the tuition fees with mere loans. Thus, ISA when implemented effectively can cover up the disadvantages the financial aid system faces currently. Philanthropic investors find ISA as an avenue that gives fixed returns, and ultimately incorporate stakeholders into the financial aid system. Many observations already show that increased interest in ISA over the past few years has been driven by FinTech companies, Venture Capitalists, and finance companies who help to outmaneuver the limitations of government aids and bank loans.
Sample 1
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Related to REVAMP FINANCIAL SYSTEMS

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