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Frequently Asked Questions

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Please go through the commonly asked questions and their answers on the below 5 tabs. If you still have any question that remains unanswered, please email us.

What is Kredit Future?
Kredit Future is seeking to raise an early stage $5 million fund with an intent to disburse credit without collaterals to students looking for higher education (graduate level) in the US. In return, we take a certain percentage of your salary post graduation. This decreases the burden for the students to repay the loan when the economy is down. Kredit Future is based on Income Share Agreement (ISA) model
How does the application process work?
It is a 3-step process
  • Pre-evaluation Stage: You fill out the preliminary evaluation form which contains basic details about your background. We will review and approve your eligibility within 3-5 working days.
  • Diligence Stage: Once your eligibility has been approved, you'll need to fill out a detailed application form and submit relevant documents along with an application fee for us to complete the due diligence on your application. Our diligence team will review your application in greater details and determine how much credit we are wiling to offer you. We will provide you with two options with different returns to choose from. We estimate this process would take around 8-10 working days for us to provide you with an offer. At this stage, we have the right to reject or decline to offer any credit.
  • Agreement & Disbursement: If you are offered a credit after the diligence stage, you are required to accept/decline the offer within 15 calendar days before the credit offer expires and you'll need to re-apply again. If the offer is accepted, agreement signed, the finance team will disburse the credit to your bank account.
When does the repayment start?
As soon as you get a job post graduating. If you don't get a job, you don't have to payback. You'll owe us a certain percentage of your salary for a certain number of months (generally ranging between 60-120 months)
Are there any other services provided by Kredit Future?
Yes. In order to assist worthy candidates in getting admission to the best universities, we provide additional services such as resume review and essay review. For more details, please click here.
What is Kredit Future?
Kredit Future is seeking to raise an early stage $5 million fund with an intent to disburse credit without collaterals to students looking for higher education (graduate level) in the US. In return, we take a certain percentage of your salary post graduation. This decreases the burden for the students to repay the loan when the economy is down. Kredit Future is based on Income Share Agreement (ISA) model
What is ISA?
In general terms, an Income Share Agreement (ISA) is a contractual agreement in which a student receives education funding in exchange for an agreed upon percentage of post-graduation income over a defined number of years.
What are the benefits of choosing Kredit Future?
    • No collaterals required
    • Doesn't impact credit (CIBIL) score
    • Repayment proportionate to salary post-graduation. No burden to repay if you don't get a job. We take the risk.
    • Up to 100% tuition fees reimbursed*
What are the eligibility requirements?
  • Indian citizen and current resident of India
  • 21 years of age and above
  • Must have completed under-graduation from an accredited university (10+2+3 minimum)
  • Must have an admit offer from an accredited university in the US to receive credit
How much loan am I eligible for?
Students will be approved for different credit amounts depending upon their application, background and profile. You'll need to apply to determine how much loan you are eligible for. Students may get funded up to 100% of the tuition amount.
Is there a cap on the total funds disbursed?
Currently, we intend to have a total allocation of $5 million for this year (2018 admits). Therefore, until we have exhausted all our funds, we will keep our applications open. To give an idea, we are looking to fund around 80-100 students this year with credit amount ranging anywhere between $20,000 to $120,000. Earlier you apply, better the chances of securing higher loan amount. Based upon our last year's pilot run, we believe that we will complete our quote by around March end. These numbers will change in the subsequent years as we increase our fund size.
Will the application process affect my Credit (CIBIL) score?
No, we take into consideration your previous academic background, work experience and other important parameters to determine your eligibility. We may ask for your CIBIL score report, on a case-to-case basis. We will never fetch the score directly which may impact your score.
What fees can I expect to pay?
For the application process, visit here
How does the application process work?
It is a 3-step process
  1. Pre-evaluation Stage: You fill out the preliminary evaluation form which contains basic details about your background. We will review and approve your eligibility within 3-5 working days.
  2. Diligence Stage: Once your eligibility has been approved, you'll need to fill out a detailed application form and submit relevant documents along with an application fee for us to complete the due diligence on your application. Our diligence team will review your application in greater details and determine how much credit we are wiling to offer you. We will provide you with two options with different returns to choose from. We estimate this process would take around 8-10 working days for us to provide you with an offer. At this stage, we have the right to reject or decline to offer any credit.
  3. Agreement & Disbursement: If you are offered a credit after the diligence stage, you are required to accept/decline the offer within 15 calendar days before the credit offer expires and you'll need to re-apply again. If the offer is accepted, agreement signed, the finance team will disburse the credit to your bank account.
What happens to my application fee if my application is declined at the Diligence Stage?
Well, the application fee is non-refundable. It is required for us to process your application, background verification and other administrative processes.

What documents are required to be submitted?
Some of the documents may include a copy of your passport, bank statements, PAN card, and education certificate/marksheets. However, there might be additional documents requested, during the diligence stage.

How long will the application process take?
The application process is will vary for different candidates. However, we try to come up with a decision within 15 working days subject to timely submission of documents and application forms.

Do I need a cosigner? 
You may probably need a cosigner. In most cases though, we don't ask for a cosigner. 

What collaterals are required?
None. This is where we are different. We don't take any collaterals or security for the credit offered.

How are the funds disbursed?
The approved credit amount will be disbursed in installments as the fees are due in the university. We will either disburse the credit amount to your Indian Bank account or the US Bank Account in the local currency as per your preference. The Bank account should be in your name.

When does the repayment start?
As soon as you get a job post graduating. If you don't get a job, you don't have to payback. You'll owe us a certain percentage of your salary for a certain number of months (generally ranging between 60-120 months)

What if I default on a loan repayment?
We are building our model on the principle of mutual trust, honesty and integrity. If we help you achieve success when you are in need, we expect that you'll fulfill your commitment of sharing a small percentage of your success with us. Although we will not, we still have the right to initiate a legal proceeding or file a lawsuit which might jeopardize your career.

Am I required to fully pay the money that was given to me by Kredit Future?
A credit recipient is simply required to pay the agreed upon percentage of post-graduation income for the prescribed term of the contract. After making successful payments over that term, no additional payments are required even if they have paid less than the amount of funding they received.

What happens if I drop out of school/university?
You still will owe us the credit amount. However, you are not expected to repay any amount when you are jobless. As soon as you start earning salary, we will take the pre-defined percentage every month until we recover the due amount. 

What happens if I start a business instead of earning salary?
If you become a founder, we take equity and preferred shares in your startup. 

May I repay my credit early?
The credit may be prepaid by paying anywhere between 2 - 3 times the amount of initial funding. This will be pre-determined in the contract.

Do you have a referral program?
Yes, we do have a referral program. For every friend you refer and go through the Diligence round, you get $10. For every friend that accepts our credit offer, you get $2,000. For more information, please email us at info@kreditfuture.com
How do I become an investor?
We are continuously looking to expand our fund size. We will be happy to invite any potential or interested investor to email us at partnerships@kreditfuture.com
We are a school/university/coaching institute. Can we join hands?
Sure. We are continuously looking to meet new businesses and consider our business partnerships. We will be happy to invite any potential or interested partners to email us at partnerships@kreditfuture.com. As the next step, we aim to partner with universities helping establish this financing model to attract best talents.
Do I get to know who is my investor?
No. For confidential reasons, we do not divulge our investor details. Our algorithm determines which investment to distribute among applicants based on the risk appetite.
Are there any other services provided by Kredit Future?
Yes. In order to assist worthy candidates in getting admission to the best universities, we provide additional services such as resume review and essay review. For more details, please click here.
I have a complaint, how do I tell you? 
We are a young company and we may make unintentional mistakes. We are more than willing to learn from our mistakes and improve our services. Kindly send your complaints to grievances@kreditfuture.com. Your identity will be kept strictly confidential.