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This Fintech Helps Lighten Student Burdens

By Isny Dewi R

28 September 2020

CICIL comes to help students meet their college needs through an installment program.

Photo source: Pexels
Problems generally faced by students cannot be separated from tuition fee to the equipment needed such as laptop. Seeing these problems, CICIL comes to help students meet their college needs through an installment program.
Edward Widjonarko, CEO & Co-Founder of CICIL, in a press conference "Four Years of #LebihPercaya" some time ago explained that CICIL is a Fintech company that has distributed aid to 16 thousand Indonesian students with funds reaching Rp 170 billion over the last four years.
So what can students ask for the installment program?
"There are variations for tuition fee, laptop, or for example Android products under Rp. 3 million, hard disk, WiFi. So, we always check first," said Edward.
The process is quite easy, student must fill out a guarantor form, then an education form, personal data such as ID Card, Student Identity Card, family card and also semester bills. This process only takes about 3 to 5 days. However, students also have to get verification starting from Dukcapil, Ristekdisti and observations of the location or whereabouts of student whether it matches what was proposed.
"Then there is an analysis in terms of payment ability, whether to pay the credit on time, the provider will give us a score. Also check the background of student’s parents, do they have side job. The third one is also in terms of character because some can pay but don't want to pay," he added.
In addition, as a registered fintech with OJK, CICIL can also find out whether student has received loan from other fintech. This is to prevent the potential to 'dig the cap hole'.

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