School enrollment rates serve as a measure of an institution’s growth and success. With increased enrollment, everyone wins. With more students in the classrooms (in-person or virtual), a school’s financial position should improve, which can then be a catalyst for better programs, more resources, and overall student success.
At Mia Share, we help facilitate multiple payment options, including Income Share Agreements (ISAs), payment plans, and smart invoicing, that work directly to increase enrollment. These options offer financial security, while also providing the flexibility needed by schools and students. It’s a win-win-win.
Win 1: Put students at ease (and in seats)
There is no doubt we need a new generation of skilled laborers, but with a rise in personal debt, lack of tuition options, along with a global pandemic, we’re seeing fewer people pursuing skilled-based education or seeking loans. Students are wary of overborrowing or simply do not qualify; therefore, enrollment wanes. By offering multiple payment options (especially interest-free and with shorter terms), schools can put students’ concerns at ease by providing guidance in choosing the right program and offering customized, flexible tuition payment plans.
Win 2: Choice is key.
As we see, a one-size-fits-all approach to student loans is not the answer - for the students or schools looking to boost enrollment. Financial options are key in providing more students with the means to further their education. Best of all, at Mia Share, we take care of the overhead of offering personalized payment solutions. Our payment plans:
- Have efficient and reasonable agreement terms.
- Are made in line with students’ personal affordability.
- Have zero interest and cost students less in total than a comparable loan option.
Simply put, the more affordable options you give to your students, the more likely they will be able to find a payment solution that will work for them (and Mia Share will help you do it!).
Win 3: Focus on what matters.
With Mia Share, we handle program build, set-up, student on-boarding, collections, and communication. There is little overhead for students and schools as they both have access to their respective Mia Share web portals. Reports, data, agreement information, and action items are available in one convenient location. We also handle collecting payments after graduation and assisting students with questions and concerns, along with consistent communication to educate students on their personalized plans. Mia Share has over 100 types of dynamic notifications that can be sent to students along with personalized texts, emails, letters, and outbound phone calls. We give schools more time to focus on what matters, educating and empowering their students for a better future.
It’s a win-win-win.
“We have been able to increase our collections and decrease costs, not to mention the precious time we have saved using their platform and team. Their easy-to-use payment processing system has been a game-changer for my programs. Their support is on point and are always instantly responsive.” - Dustin, National Welding Academy Owner