In an era where education has become a lucrative industry, there are still a handful of schools that use their influence to enhance the lives of their students and pave the way for a better future. While the rich have an abundance of educational choices, the situation is starkly different for the middle-class and lower-income groups. Education is their sole gateway to a better future.
Students hailing from a financially stable environment have a wide array of schooling options, including international institutions. However, this landscape does not mirror the entirety of society. There is a large number of poor and middle-class people who rely entirely on government schools and affordable private schools. Unfortunately, these schools face numerous challenges. Owners face financial constraints, staffing shortages, gender-based reluctance towards education, teaching quality concerns, student dropouts for labour, technological limitations, and inadequate infrastructure. The emergence of the COVID-19 pandemic only added to these struggles.
While the government has initiated various programs to aid such schools, the rollout often proves sluggish, leaving school owners seeking alternative solutions.
Enter Varthana, a non-banking financial company (NBFC), which specializes in extending loans to private affordable schools for the development of infrastructure and other amenities. Its clientele resides across all regions in India.
Prabhakar Upadhyay, the Chairperson, of Maltidevi Vidyalaya in Thane, affirms Varthana’s impact: “Varthana has been our growth partner. We secured a loan for infrastructure expansion, adding a new floor to our school building. We got new benches and resources, besides constructing separate restroom facilities for girls and boys. This led to an increase in student enrollment from 200 to 350.”
Varthana’s influence has expanded across 15 states, benefitting over 9,000 affordable private schools and impacting four million students nationwide. In Maharashtra alone, Varthana has aided more than 2,103 schools, channelling a remarkable ₹371 crores into the state. Varthana’s commitment to schools and students sets it apart from other lenders. It collaborates with schools at every juncture, providing teacher upskilling, owner management training, technological support, and even educational loans for students.
Personal stories showcase the profound impact. Yuvraj Sawant, Chairperson of Gurukul English Medium School in Malpur, Sindhkheda Taluka Maharashtra, expresses gratitude to Varthana: “Our progress owes much to Varthana. Their support enabled us to complete construction, procure computers, transportation buses, and build a boundary wall, ultimately leading to increased enrollment.”
India’s economy is growing rapidly, both domestically and internationally. This growth is creating demand for skilled workers. And schools, colleges, and other educational institutions will be essential in providing this workforce.
A well-developed education system that is accessible to people from all strata of society is essential for the overall development of the nation. This is because education helps develop the skills and knowledge people need to succeed in the job market. It also helps to promote social mobility and create a more equitable society.
