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Tata Capital > Blog > Personal Use Loan > How Has COVID Impacted the Education Industry Worldwide?

Personal Use Loan

How Has COVID Impacted the Education Industry Worldwide?

How Has COVID Impacted the Education Industry Worldwide?

As the world grappled with the COVID-19 pandemic, the education industry was no exception. The lockdowns in response to the crisis interrupted conventional teaching models worldwide.

All educational institutions, including schools, universities, colleges, etc., were forced into immediate closures. As a result, we witnessed radical changes in the world of education.

Let us explore the impact of COVID on education industry in detail.

The transition towards alternate teaching methods

Since the outbreak of Covid-19, educators and students are adapting to the new normal of remote learning. Thanks to the accelerated adoption of online classes, institutes are delivering lectures through live video conferencing tools.

Not only that, advanced educational models such as hybrid and blended learning are gaining widespread attention. Students are receiving virtual instructional packages, additional resources, parent support, interactive activities, etc., for an improved learning experience.

Fewer geographical restrictions     

The shift to online education means institutes can accept students from across the globe without requiring their physical presence. This also allows students to attend classes from a location of their choice.

For students having trouble paying high tuition fees, lenders offer easy personal loan for education. This means there is no constraint on participating in quality international education from the comfort of home.

Besides, while learning virtually, students can record, archive, and share online lectures for future reference.

Additional Read: Impact of the Current Pandemic Situation on Education Loans

The rise of self-study courses and work opportunities

In addition to their formal curriculum, students are also exploring diverse online learning platforms for self-learning. The growing popularity of MOOCs (Massive Open Online Courses) for gaining in-demand skills is living proof.

While several online courses are free to join, numerous boot camps and skill-based programmes charge a fee. You can avail of low-cost education loans to finance these excellent learning options.

The digital expansion of the education industry has also ushered in countless work opportunities for students. Since training and interning with companies do not require being present in the office today, students are opting for remote internships and part-time jobs.

Better exposure to digital tools

Both students and teachers are becoming more digitally literate and honing their skills of using online learning tools. Students are also learning to collaborate with classmates and faculty via various collaboration tools and video conferencing platforms.

Moreover, this is helping students develop the professional acumen required for modern-day remote job experiences.

Additional Read: After-effects of Coronavirus on International Education

Over to you

Despite the onset of pandemic disrupting education systems briefly, the industry has mitigated the challenges, turning them into exciting learning opportunities.

Are you planning to finance your higher education or a skill-based course? If yes, Tata Capital can help you out! Get personal finance for education with us at attractive personal loan interest rates starting at just 10.99%. You can secure a loan amount up to Rs. 25 lakhs.

Enjoy easy eligibility, minimum paperwork requirements, extended loan tenures, and fast approvals. Use our personal loan EMI calculator to plan your repayment.

Moreover, you can choose a flexible personal loan EMI plan to repay the loan comfortably.

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