It does not appear that the information provided matches an organization known as EdAid Foundation Inc with an EIN of 842154932. However, there is information available about EdAid and EdAid Foundation, which are related entities based in the UK. Here is an article in a Wikipedia style that reflects the general nature of EdAid and its associated entities. If you are referring to a different organization, please provide more details or verify the information.

EdAid and Related Entities

Overview

EdAid is a financial technology company based in the United Kingdom, with global operations including offices in Dubai, London, New York, Sydney, and Toronto. It focuses on providing financial solutions for higher education by partnering with universities and professional schools to offer deferred tuition payment plans.

History

EdAid was founded by Tom Woolf, the former Mission Chief of JustGiving Middle East and Africa, and an alumnus of Accenture Financial Services Strategy. The platform received regulatory approval from the Financial Conduct Authority (FCA) in February 2016 and was launched in March 2016.

EdAid Foundation

The EdAid Foundation is a UK-registered charity, established to provide funding for high-potential students who would otherwise be unable to pursue graduate-level education in STEM, Law, and Finance. It offers low-cost, index-linked funding to cover tuition fees, enabling students to focus on their academic pursuits without immediate financial burdens.

Operations

EdAid operates by creating a shared risk and reward model between students and educational institutions. It charges a technology and processing fee to providers while offering students zero fees. Repayment plans are pegged to the Consumer Price Index (CPI) without additional interest charges, ensuring that payments remain affordable.

For students, EdAid facilitates income-contingent repayment plans, typically starting at 10% of their monthly salary after graduation and full-time employment. The platform also offers flexible payment plans tailored to individual circumstances.

Mission and Impact

EdAid aims to make education more accessible and affordable, believing that economic empowerment should not be limited by financial constraints. The EdAid Foundation raises funds from philanthropic sources, impact investors, universities, and trusts to support this mission.

In summary, while the specific organization EdAid Foundation Inc with an EIN of 842154932 is not detailed in the available information, EdAid and its associated entities are recognized for their efforts in transforming education financing through innovative, affordable models.