The return to school can represent not only the end of a vacation season, but the beginning of a great economic concern for parents or university students, who must reach into their pockets to buy school supplies or pay academic fees.

(Concepts that you must take into account when applying for a loan).

It should be noted that by 2023, according to figures from the National Federation of Merchants (Fenalco), specifically in the capital of the country and in Cundinamarca there was a growth of up to 18% in school supplies, a representative increase that arises as a consequence the rise of the dollar, inflation and the crisis linked to the scarcity of raw materials. This way, average spending in this category is expected to be $350,000 pesos in materialsnot counting the category of books.

While, compared to registrations and enrollments in technical, technological and university careers, the data presented by the National Administrative Department of Statistics (Dane), found that in 2022 there was a variation of 5.72% and, taking into account, Since the inflation indices are in “red”, since they are above 13.12%, it is most likely that during 2023 these data will continue to rise.

(After year-end expenses, so you can regain financial peace of mind).

As a result of this situation, it is inevitable not to apply for credits, because despite the increases, education is not negotiated for parents and university students. And in this sense, different Colombian fintechs, such as Juancho Te Presta, have sided with it as a financial solution by offering microcredit alternatives, easily, safely and quickly, since people usually obtain the capital disbursement from the a few hours after completing the procedure.

«In the last three years, from Juancho Te Presta we have managed to disburse close to $3,000 million pesos in loans to finance purchases and payments in the education sector, since expenses of this type have different facets and range from families that buy supplies to their children, even people who pay for a diploma or course to improve their professional profile”affirmed Juan Esteban Saldarriaga, CEO of Juancho Te Presta, who added that for this year he expects the figure to rise to an average of $7,000 million, to continue being a dynamic axis of education.

Under this ideal, there are more and more fintechs that seek to confront problems such as desertion, since from the company they assure that there are various aspects tied to education that require financing, for this reason they try to provide support in sectors and aspects that others entities do not provide This is how, according to Saldarriaga, they promote the delivery of credits for use in education, since these promote progress, a key piece and focus of Juancho Te Presta.

(How to take advantage of high interest rates to save).

And it is not for less, because according to the Minister of Labor, Alejandro Gaviria, from 2022, a maximum increase of 10.84% ​​was established in the tuition prices of public and private schools and universities. According to official figures from the Student Enrollment System of the Ministry of Education (Simat), the percentage of students who reach the last year of high school is reduced to almost half of those who start their first grade of primary school.

Seen in another way, during 2012 about 534,178 young people graduated, a similar number of students who are in the eighth grade in 2018, which represents a loss of 194,917 students (26.73%) in four years. Without a doubt, it is a phenomenon that has existed for years and that goes beyond the recent pandemic, since obviously, the lack of access to education comes from different causes, including lack of economic resources, infrastructure, among others.

Precisely, the lack of economic resources is what leads parents and students to apply for loans in Fintechs such as Juancho Te Presta, which grants and provides financial aid between $1 and $5 million, accompanied by benefits such as low fees, agility in the approval of credits, disbursements in 24 hours and optional automatic debit, this without neglecting the loan facilities for women through its special button on the website.

Technologies and startups are allies that increasingly side with students and parents with the aim of being a solution in the midst of global uncertainty and high living costs.