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US, UK and Canada are preferred destinations for Indian students. (Photo: Shutterstock)
The education loan book of non-banking financial companies (NBFCs) is seen growing at 40-45 per cent to cross Rs 60,000 crore in FY25. The growth is slower than annual run rates of more than 80 per cent and 70 per cent in FY23 and FY24, according to a report by CRISIL Ratings.
The portfolio performance of NBFCs has been resilient, based on strong credit underwriting. The 90-day plus past due for education loans was 0.2 per cent in FY24, whereas for private and state-run banks it was 2 per cent and 3.9 per cent.
While the United
