Pay4Education unveils its tuition affordability platform
Pay4Education, Inc., a fintech company started by financial aid experts to help consumers make informed college choices by determining costs and monthly affordability in advance, today launched the initial version of its platform designed to help freshmen students and their parents make good choices when financing the tuition bill.
Pay4 helps consumers navigate the confusing landscape of financing options and incorporates each family’s unique circumstances to create a pathway for paying the tuition bill. In less than a minute and with just six questions, Pay4 calculates and displays multiple options for families to see “true college costs” on a monthly payment basis, during and after school, for both parents and students. The platform then provides families step-by-step instructions for completing the tasks and getting the bill paid. Visit www.pay4edu.com to try it out.
“Paying for college is a pretty broken process,” said Patrick Kandianis, Pay4’s CEO & Co-Founder, “Tuition bills are on their way and parents of first year students are given limited guidance on how to balance cash, savings and financing options for this huge purchase. On top of that, current assistance is focused on one single year. Pay4 incorporates a forward view on all four years to ensure the choices students and parents make fit their budgets both now and after graduation.”
A parent of a Macalester College student, Class of 2023, had this to say about Pay4, “What a useful tool! Pay4Edu.com helped me layout the different elements of the net price and financial aid packages for the schools that my son was accepted to. We were able to estimate the monthly costs and get a better handle on the apples to apples comparison of his choices so that our family could have a meaningful kitchen table conversation about the differences.” Pay4’s first release is focused on managing the tuition bill, but it will soon help families do better comparisons of award letters for newly accepted students, see the ROI for schools vs. the potential costs, and help those with younger children researching upcoming college costs in future years.
“We believe informed consumers make better choices and better students, and, if necessary, better borrowers,” added Kandianis, “families and students deserve a realistic snapshot of what college really costs and how to pay for it and that’s what Pay4 delivers.”
About Pay4Education, Inc.
Pay4 increases financial knowledge and transparency by empowering students, families, and colleges with technology that clearly shows the costs of four years of college on a monthly payment basis. By enabling students and their families to make smarter, personalized financial decisions that fit their budgets when “purchasing” college, Pay4 helps consumers responsibly manage the entire payment and repayment lifecycle. Learn more at www.pay4edu.com or follow us on Twitter @Pay4Edu.