Financial literacy month is the perfect opportunity to launch our second exploration of lending opportunities across various sectors.
At flovver, we encourage our lender clients to transform their impact into a true driver of positive change for their communities. And what could be more powerful than education and training to drive lasting and meaningful transformation?
Did you know that non-traditional loans play a vital role in the training sector? They enable flexible financing solutions, whether directly for students or companies investing in upskilling their employees. For instance, a professional training company might offer interest-free financing options or installment plans.
These solutions make programs more accessible, promoting continuous learning and opening up opportunities for a broader audience. Student loans play a crucial role in funding post-secondary education in Canada.
Because we love stats, here’s a quick snapshot to better understand these two options:
Government loans: a solid foundation
- 13%: of students would not have pursued their studies without the support of federal loans.
- 36%: of graduates say they wouldn’t have completed their program without these aids.
- 50%: Post-secondary graduates in Canada finish their program with student debt.
- $17,500: the average debt of graduates.
Alternative loans: a complementary solution
- 30%: of graduates use alternatives loans to supplement their funding.
- $10,000: the average debt amount, representing a significant share of total student debt.
Tips
Combine the benefits of government and alternative loans strategically to maximize your opportunities while maintaining control over your financial future.
These examples are just a glimpse of the many ways to approach financing in on education & training. Other creative solutions exist, offering even more opportunities to make on education more accessible.
Join us in this rewarding journey! Become a lender!
Source : Statistique Canada