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EVS introduces Global Study Partners facility for students who wish to study abroad
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Study Loans advised on debt facility worth $50m
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Study Loans scores $50 million debt facility
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Boutique fund manager Alceon is behind a new $50 million debt facility for Simonds family office-backed learning fintech Study Loans.
The new debt funding was coupled with a $6 million equity raise, in which the Simonds family doubled down on their earlier investment.
Study Loans is providing funding options to students ineligible for government support.
Karl Hilzinger
The company, which was founded by Brett Shanley, Mark McCoach, and Rhett Simonds, helps students pay for their education, with a particular focus on the vocational education sector.
The business has also attracted funding from Anthony Hynes, who last year sold his B2B payments company eNett for $US577 million to US company WEX. Hynes has come on board as chairman of the education fintech.
SA student debt is in a class of its own – and VCs won’t budge Nsfas is owed R36.4bn, while 21 universities grapple with R10.4bn in outstanding fees from the past decade 31 March 2021 - 19:45
A student owes the National Student Financial Aid Scheme (Nsfas) a staggering R400,000 in study loans that were granted before the government’s announcement of free higher education in December 2017.
Nsfas chief corporate services officer Sibongile Mncwabe confirmed to Sunday Times Daily that until the end of March last year, the total debt owed by students was R36.4bn.
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