Several students from different states accused Bengaluru-based ed-tech firm CareerLabs of "cheating" them by availing loans in their names but failing to fulfil their promise of providing job opportunities after completing the internship-based hiring programme.
The students alleged that CareerLabs had taken loans from multiple financial institutions in their names without their consent. They also alleged that the firm had promised them jobs with a package of Rs 3.5 lakh and a Rs 50,000 bonus after completing one year at Partian, a company that is affiliated with CareerLabs. However, the students said that they were not offered any jobs after completing the training programme.
The students have filed a complaint against CareerLabs at the Koramangala police station. The firm has denied the allegations and said that it is "committed to providing the best possible training and placement opportunities to its students".
The case is still under investigation. However, the allegations against CareerLabs have raised concerns about the role of ed-tech firms in the job market. It is important for students to be aware of the risks involved in taking loans for training programmes and to do their due diligence before signing any contracts.
Here are some of the things that students should do before taking a loan for an ed-tech programme:
- Do your research: Make sure that the ed-tech firm is legitimate and has a good reputation. Check the reviews of the firm and the programme that you are interested in.
- Understand the terms of the loan: Read the loan agreement carefully and understand all of the terms and conditions. Make sure that you are comfortable with the repayment terms.
- Get everything in writing: Get all of the promises made to you in writing, including the job guarantee. This will help you if there are any problems later on.
If you are considering taking a loan for an ed-tech programme, it is important to do your research and understand the risks involved. By following these tips, you can help to protect yourself from being scammed.