“Be crystal clear on what you need and why you are asking for college financial aid assistance now,” said Colleen Krumwiede, co-founder of Quatromoney, a fintech platform that helps families optimize their college financing.
Due to the COVID-19 outbreak, colleges across the United States may feel the impact in freshman enrollment patterns. According to a survey released by quatromoney, families are rethinking their children’s college choices.
While Quatromoney CEO Patrick Kandianis acknowledged that the data collected in this survey was limited, he said that colleges might see changes in the number of admissions offers being accepted or deferred as compared to previous years.
Coronavirus has colleges fearful about yield, searching for the right strategy. A Quatromoney and TuitionFit survey released Thursday found that 25.7 percent of high school seniors were rethinking their college choice because of the coronavirus.
Families’ fears have heightened due to the COVID-19 outbreak — particularly for prospective parents and students who will be first-year students in the fall of 2020. Families across the country are rethinking their final college decision.
“Thus, if you are a dependent student, you may benefit from your parents applying and getting denied for federal parent PLUS loans,” said Colleen Krumwiede, co-founder of college affordability platform Quatromoney.
“We have some really top-shelf quality deals that have large market opportunities. We closed our first portfolio in September with six companies," Brett M. Gearing says [including Pay4Education, now known as Quatromoney, a tool to help families, financial advisers and schools through the challenging process of planning for (and paying for) higher education].
"Not only does TuitionFit share Quatromoney's mission for college cost transparency but also the belief that technology can improve families ability to make college more affordable," said Patrick Kandianis, Quatromoney’s CEO & Co-Founder.
GSV Ventures announced Quatromoney among the 200 seed and bootstrapped companies across six continents that will present at the 2020 ASU GSV Summit as part of the inaugural GSV Cup sponsored by Google Cloud.
Education financing site Quatromoney (formerly Pay4Education) suggests open-license textbook sites that offer free educational materials for download (or printable for a nominal cost) like the University of Minnesota’s Open Textbook Library or OpenStax Textbooks.
“Every student and family’s college selection and college finance story is unique,” said Kandianis, “College award letters only provide general insights for a single year at a time and are delivered in a myriad of different formats. We help families cut through the red tape and see a true picture of all four years of costs with just an award letter or a tuition bill. Then we look at outcomes to see if the purchase makes sense.”