Grayquest

Increase in cost of education has topped the inflation charts in India. In the last decade alone, India experienced an enormous rise in the costs of education by 10%.

The rising cost of education in India, particularly in higher education, poses significant challenges for families and students. Infrastructure development, faculty salaries, technological advancements, and regulatory compliance contribute to the increasing expenses

National statistics indicate that despite improvements in gross enrolment ratios, many eligible students still face barriers to pursuing higher education

Additionally, costs of K-12 private schools have increased exponentially. Indian parents for better quality of education tend towards private institutions but lack liquidity rather than affordability for the fees charged

The rising cost of education has lead to many negative impacts on Indian society, which includes, increased inequality wherein the high cost of education is widening the gap between rich and poor, reduced access to education and various other factors

The cost of education has been rising over years

Education loans AUM recorded highest 5-year CAGR of 41.1% between fiscals 2019 and 2024, from Rs 75 billion in fiscal 2019 to Rs. 90 billion in fiscal 2021 and an estimated Rs 418 billion in fiscal 2024.

In India, the overall education market in fiscal 2024 is estimated at ~Rs. 18.5-19.0 trillion, which includes both the overseas education market and the domestic education market.

The Domestic Education market is estimated at Rs 13.5-14.0 trillion in fiscal 2024. It is estimated to have grown at a compound annual growth rate (CAGR) of 9% over fiscals 2018 and 2024, and at 3-year CAGR of 15% between fiscals 2021 and 2024, primarily led by recovering demand after the pandemic. Going forward, the education industry is expected to grow at a CAGR of 12-13% over fiscals 2024 to 2029, with its market size exceeding Rs 24 trillion.

GQ offers online platform for fee payment solutions to k-12 schools and universities. It enables parents and guardians to pay the school fees in monthly instalments. It also partners with educational institutions to make fee payment procedures easy

Grayquest primarily is an education financing player for K-12 schools in India. It has partnered with various schools for fee payment and management software, where it offers tailor made financing products to parents and students

The company uses stringent underwriting process, wherein it underwrites the parents credit score to offer fee financing solution. Multiple payment options are available for fee payments in instalments. It offers zero cost EMI to parents with flexible tenure and payment solutions

The fee management platform has helped various schools to transform their fee collection and management process completely. Its SaaS platform called ARC is thoughtfully designed platform to cater to the needs of educational institute, ranging from seamless fee collection to parent communication.