PHOENIX, AZ, JUNE 24, 2019—CampusLogic, higher education’s only comprehensive student financial success platform, today announced a new strategic partnership with Vemo Education, the leading income share agreement (ISA) platform company for higher education. Through the partnership the companies will collaborate to create a unified student experience that incorporates ISA information directly into the CampusLogic technology platform when a school makes an ISA available to a student.
“We are proud to partner with Vemo Education—a pioneer in helping postsecondary institutions develop, launch, and implement school-based, student-centric income share agreements,” said Gregg Scoresby, Chief Executive Officer at CampusLogic. “Many students today are making one of the biggest purchases of their lives without fully understanding their financial commitment. Incorporating Vemo’s school partners’ ISAs directly within the CampusLogic student workflow, including educational information about how ISAs work, enables students to see the full picture of their financing options as they are making their decision.”
CampusLogic’s cloud-based student financial success solution empowers colleges and universities to deliver an intuitive, student-friendly experience on any mobile device, personalized for each student, and complete with performance tracking. Features such as integrated financial wellness videos—soon to include Vemo Education’s ISA content—provide a more engaging, intuitive experience to help students make better financing decisions.
ISA programs or “pay as you succeed” education financing offers a unique, outcomes-based way for students to finance some of their tuition. Schools that offer ISAs allow students to pay a defined percentage of their income after graduation for a set number of years in exchange for education funding. A progressive financing alternative to burdensome private student loans, ISAs reduce risk for students, align payments with student success, and increase college affordability thanks to ISA features like minimum income thresholds, a maximum number of payments, and a payment cap.
“Vemo Education is excited to partner with CampusLogic—a leader in student financial wellness, empowerment, and success,” said Tonio DeSorrento, Chief Executive Officer and Co-Founder at Vemo Education. “Integrating ISAs into CampusLogic’s student financial success platform will help better inform students about financial options that are the best fit, as more colleges and universities develop ISA programs to increase educational access and align cost with transparent student outcomes.”
Nearly three million students drop out of higher education every year for financial reasons. The process is hard, comprehension of the gravity of financial commitment is low, and debt without a degree is on the rise. While billions are spent innovating academic and career resources to drive student success, financial success has been somewhat left behind. CampusLogic and Vemo Education are two companies leading the charge to put student financial success front and center.
CampusLogic helps schools change lives by delivering the first—and only—Student Financial Success platform that incorporates a net price calculator, complete scholarship management, personalized digital communications, simplified financial aid verification, 24x7 multilingual virtual advising, tuition and scholarship crowdfunding, and integrated data visualizations. Over 500 schools across the country use CampusLogic to provide their students with an easy, mobile and personalized experience to simplify the financial success journey, resulting in increased enrollment, better informed borrowing, and improved retention. CampusLogic annually hosts EmpowerED, a conference dedicated to providing student financial success professionals with access to industry trends, best practices, and networking opportunities with like-minded colleagues. For more information, visit campuslogic.com.