EdAid

EdAid

IndustryFinTech, Student Finance, Charity, Non-Profit
Founded in2016
FounderTom Woolf
HeadquartersLondon, SW1E, United Kingdom
Websitehttp://www.edaid.com/
  • EdAid is a funding platform for higher education.
  • EdAid partners with university and professional schools to defer tuition payment, interest-free.
    • EdAid lets students defer tuition fees, interest-free.
    • Study now, pay later is the mechanism by which students from underrepresented communities can get fair, affordable access to higher education.
    • EdAid ensures that students and their education provider have shared risk, shared reward model that builds greater level of equity into Higher Education.
    • Students must be on a UK, US, Canadian or Australian accredited course with the permanent right to remain in their country of study after graduation.
  • EdAid has offices in the United Kingdom, United States of America, Canada, Ireland, the United Arab Emirates and Australia.
  • Fees
    • EdAid charges a technology and processing fee to the education provider and zero fees to the student.
  • EdAid is regulated by the Financial Conduct Authority and students are validated through a three-phase process that includes identity, fraud and AML checks before starting an application.
  • Repayments are pegged to the rate of the Consumer Price Index without additional interest charges.
  • Students will typically start to repay 10% of their monthly salary after they graduate and are in full-time employment.
  • EdAid Foundation
    • The EdAid Foundation is a UK-registered charity that provides matched funding from corporations, trusts, high net-worth individuals and alumni.

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