365Telugu.com online news, Hyderabad, August 6, 2024: Niyo, India’s pioneering travel banking platform is supporting Indian students aspiring to pursue education abroad. 21-year old Bhanu Prakash of Ameerpet area of Hyderabad has been awarded a scholarship of $2000 to study at a renowned university in, Massachusetts, USA.
Bhanu plans to pursue masters in (Business Analytics) and contribute to India’s growth by building a startup upon his return.
Bhanu hails from Koyyalagudem, a small town in Andhra Pradesh. His father is the family’s sole breadwinner and has successfully supported Bhanu’s education, as well as that of his younger sibling. As a bright student, Bhanu has been a scholarship holder during his undergraduate studies.
He applied to nine U.S. universities, including Brandeis University, University of Maryland Baltimore County, Texas Tech University, Cleveland State University, Gannon University, and University of Dayton, receiving admissions from most of them.
Bhanu received a 40% scholarship from Brandeis University for a Master’s in Business Analytics and decided to pursue his degree there. With the Niyo Scholarship, Bhanu will be able to cover most of his initial expenses and have a smooth transition to the USA.
Niyo’s Scholarship Program initiative eases the financial burden for students embarking on their academic journeys this fall. With a total fund of $20,000, Niyo plans to provide ten individual scholarships of $2,000 each.
This award will help ease the financial demands of studying abroad, covering tuition fees, living expenses, and other educational costs. Hyderabad had the highest participation rate in the Scholarship Program (25%), followed by Ahmedabad (22%), Bhubhneshwar (18%), Pune, Kochi, Mumbai, and Delhi.
Niyo is a travel-banking fintech company offering zero-markup debit and credit cards for international travel. With a customer base exceeding 15 lakhs, over 25% are students traveling abroad for higher education.
The company estimates that, on average, a student spends approximately Rs. 40 lakhs annually on college fees and daily expenses while studying abroad. Niyo’s zero-forex markup card helps these students save up to Rs. 2 lakh on foreign exchange markups alone.
These substantial savings can be directed towards other essential expenses, making international education more affordable and accessible.
Vinay Bagri, Co-founder and CEO, Niyo, said, “We are thrilled to support students like Bhanu Prakash in their pursuit of international education through the Niyo Scholarship Program. At Niyo, we understand the financial challenges that come with studying abroad, and our mission is to alleviate some of that burden.
The strong participation from Hyderabad, Maharashtra, Gujarat and other regions reflects the growing aspirations of Indian students to gain global exposure and education. Our zero-forex mark-up card is just one of the many ways we are committed to making international education more accessible and affordable for students across India.”
The Niyo scholarship program started in early May with open doors making all Indian Students holding an admission to study abroad for all masters and undergrad courses across the globe eligible to apply and hold a chance to win the scholarship.
Read more about Niyo scholarship here – https://goniyo.com/blog/niyo-scholarship/
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