JAKARTA, Indonesia, May 24, 2023 /PRNewswire/ — Financial inclusion focused Indonesian digital lending company JULO has launched a unique Education feature that will empower customers to ensure uninterrupted education for them and for their families. With just a few in-app clicks, customers can use their JULO digital credit limit to cover any education expense across any school, any college, any university and any online course in Indonesia. This coverage extends to more than 250,000 institutions with more being added on an ongoing basis.
The Indonesian education system is ranked fourth largest in the world after China, India and the United States with over 50 million students in more than 250,000 schools. However, the current system has many challenges. According to the Central Agency of Statistics Indonesia, 67% of the school dropout rate is due to financial problems. The study also showed that 86% of those unemployed are school dropouts at the high school stage or below,…