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The growth in education-loan assets under management of non-banking finance companies is projected to stay steady at 20 per cent this fiscal, with increasing diversification across study destinations offsetting the impact on demand for US-focused education amid policy uncertainties, a Crisil Ratings report said on Tuesday. Asset quality has been robust so far and is expected to stay stable, even as the share of the portfolio transitioning from moratorium to repayment has increased, the report said. NBFCs (non-banking finance companies) typically structure education loans with a moratorium period aligned to course tenure, it said. Repayment obligations, in the form of Equated Monthly Instalments (EMIs), are calibrated to borrowers' earning potential and which typically commence when the course is completed and the student gets employed, it said. Nevertheless, with a substantial portion of the book still under contractual moratorium, the portfolio's performance over a broader repayme