NO. Simply because you fill the application form on the website and pay the application fee DOES NOT mean that you will get a guaranteed Loan.

Acceptance or rejection of an application depends on various factors. Applications are either accepted or rejected based on the profile of the student, terms of repayment offered or proposed in the application form, earning potential of the student, career profile of the applicant, etc among other things.

You will get the loan only if Mr. Ashish Bohora sees promise in your profile and likes the terms of income share (percentage & duration) that you are willing to share in exchange for the loan.

Application Review Fee availing the Private Income Share Education Loan from Mr. Ashish Bohora is INR 2500.

Whenever an application comes in, a lot of time & resources get spent reviewing the student profile.

Also, this is a way for Mokusei to ensure that the student is serious about their education loan repayment.

Our pilot data suggests that students who cannot pay the basic application fee generally fail to honor the ISA and their chances of default in the future are 5X higher. To avoid & filter out such students, Mokusei charges the application review fee that it does.

Simply put, applicants who do not pay the application review fee are far less likely to repay back their Income Share Loans. The Ashish Bohora Family Office prefers not to extend loans to such applicants.

Yes.

The 'Application Review Fee' is FULLY REFUNDABLE in case your loan application gets rejected.

A Full Refund of this Review Fee will be processed to your UPI account at the end of the next Financial Year.

[For example - if your application is received in the FY 24-25 then your refund will be processed at the end of FY 25-26]

While Mr. Ashish Bohora intends to aid and invest in deserving students by offering them Private Income Share Education Loans, he also wants to ensure that no student/applicant faces any monetary loss in case their application gets rejected.

The Private Income Share Education Loans are Mr. Bohora's private and personal initiative designed with an aim to transform the face of student lending in the long run.

The Application Review Fee received from applicants gets invested in financial instruments for a period of 1 year. The returns from these instruments are utilized to compensate the Mokusei Team and to manage/maintain digital assets (website, mail platform, digital subscriptions etc).

At the end of the immediate next financial year, the Application Review Few refunds for rejected applications get processed directly from Mr. Bohora's account.

This way no student incurs any monetary loss while Mr. Bohora's initiative remains self sustainable at the same time.

Mr. Ashish Bohora gives the Private Income Share Education Loans to shortlisted applicants in his individual capacity from his personal bank account, the 'Application Review Fee' directly goes to the account of Mr. Ashish Bohora.

Currently, the Payment Gateways do not allow payments to bank accounts of individuals. They need an established incorporated company to receive payments from applicants.

Since the payment is not directed towards an incorporated entity, and have to happen to Mr. Ashish Bohora directly for legal reasons, we have setup this Manual UPI Mode of transfer.

UPI has been set up by the Government of India for easy digital payments where every transaction gets recorded by the system. Given its convenience, this Manual UPI Mode of payment has been chosen so that transaction records go to both - the applicant as well as to Mr. Ashish Bohora.

The Income Share Education Loan is a PRIVATE LOAN given to the shortlisted applicants directly by Ashish, who is a Private High Net-worth Investor.

Detailed Linkedin Profile of Ashish can be found on www.linkedin.com/in/ashish-new

The Income Share Agreement (ISA) gets signed between the applicant and Ashish. This is an undertaking in his personal capacity and not through any Organization, Foundation, or Company.

This legal setup has been designed to avoid the NBFC route which requires an RBI license, is more expensive, needs more paperwork, and is burdened with complex regulations.

This legal setup also ensures that Credit Score of the applicant is not impacted negatively in case the applicant fails to make timely repayments of their Income Share Loan for any unforeseen and unavoidable reasons.

Yes, this Income Share Education Loan & all its repayments are fully tax deductible under Section 80E of the Income Tax Act.

Yes, this Income Share Education Loan offered by Ashish is completely Legal & Valid.

The Indian Legal System does not prohibit any individual from offering a loan to any other individual for any use whatsoever. Moreover, any individual over the age of 18 yrs is free to enter into any Agreement with any other individual over the age of 18 yrs.

As long as valid documentation and records are in place, this Income Share Education Loan is absolutely legal.

Yes, Income Share Agreements (or ISAs) are absolutely & fully legal in India.

In fact, they are regularly used by quite a few EdTech companies in India to provide free Educational Services to Students in exchange for a percentage of their future income.

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In traditional Education Loans you pay a fixed monthly EMI to repay your loan and accrued interest irrespective of whether you get a good job after completing your education or not. Moreover, most traditional educational loan companies ask for collateral as safety. This creates a big pressure on the student & their families.

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In Mokusei's Income Share Education Loans there are NO MONTHLY EMIs. Instead, you sign a legally binding INCOME SHARE AGREEMENT (or ISA) with Ashish and pay a pre-decided percentage of your annual income as loan repayment instead of a fixed EMI. This payment is made once a year instead of monthly payments.

Moreover, the Private Income Share Education Loans offered by Ashish do not need any collateral or cosigner. These loans are provided to deserving students purely based on their talent and future income earning potential based on their education profile.

The amount of money to be repaid in Income Share Education Loans comes out to be much less than the amount of interest a student would have normally paid otherwise in a traditional education loan.

Thus, Income Share Education Loans are a much better and much cheaper option than Traditional Education Loans.

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You must be an Indian National who is at least 18 years old to apply for the Private Income Share Education Loan from Ashish.

You will get to know the status of your loan application within 4 business days. The loans, if approved, get disbursed within 7 business days.

No. You do not need any collateral to avail Ashish's Income Share Education Loan.

The student decides and proposes what percentage of his/her income will be shared with the Loan Provider and for how many years. If the HNI/Investor accepts the terms & proposal, they will fund the student. If the terms & proposal are not acceptable to the HNI/Investor they can choose to pass on the opportunity and decide not to fund the student.

No. Students do not have to repay to Mokusei. Mokusei is

Students are supposed to repay money directly to Ashish who offers the Income Share Education Loans to shortlisted applicants in his private capacity. This payment needs to be done once a year. It is proportionate to the income that the student earns in future as per the terms of their ISA after their education is complete.

The student has nothing to worry about. Since Ashish's Income Share Education Loans are proportionate to the income that a student earns, the student repays less money if the student is earning less.

The student does not need to worry. If the student is not earning any money then he/she need not repay anything for that duration.

Students can decide whether or not to sign the Income Share Agreement (ISA) right until the last minute.

Once the funds have been transferred from Ashish's account to the account of the student, they cannot cancel the ISA.

Yes, you can choose to SWITCH from your current/existing Loan Provider to Ashish's Income Share Education Loan. You can take a loan from Ashish to Pre-Close your current/existing loan.

Application Fee for Switching to Ashish's Income Share Education Loan is INR 2500.

Yes. You can get any terms & clauses added to your ISA as long as they are acceptable and in agreement with Ashish.

In case of default, the loan provider can take legal action to recover the funds as per the terms & clauses mentioned in the ISA.

Mokusei is only the link between students & Ashish.

The Income Share Education Loan Provider is Mr. Ashish Bohora, an HNI Impact Investor who has setup this system to aid deserving students who need financial aid while being able to generate returns at the same time.

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Income Share Education Loan Providers make profits by taking a bet on the student. In theory, good students that get admissions to good courses and/or colleges have a higher earning potential. They are more likely to get good jobs in the future.

Income Share Education Loan Providers hope to make profits by accepting a percentage of share in the annual income of such students. The risk they are ready to take is to make less money in case the student fails to secure a good job, or lose money in case the student gets no job in the future.

You will need to submit your AADHAR, PAN, Latest ITR, Latest Marksheets, Bank Account details, Offer letter from College/University if your application gets accepted. In addition, if Mokusei requires any more documents then we will reach out to you for the same as necessary.

Yes. You can pay the Loan Provider a fixed amount as mentioned in the ISA between you & Mr. Ashish Bohora to Pre-close your Income Share Loan.

The fixed amount is decided after discussion between you & Mr. Ashish Bohora.

Usually this amount is 2X of the amount loaned to you. But it can be less if a lower amount is agreed upon in the ISA.