Graduation cap tossed, future shimmering, a question echoes in your mind: “Are trade schools worth it?” Fear not, young adventurer, for this isn’t a binary choice, but a thrilling expedition into the world of skilled trades! Let’s navigate this maze together, uncovering the treasures that await and clearing any doubts that linger.

The answer, like a perfectly crafted weld, depends on your unique goals and aspirations. Traditional college might not spark your fire, but trade schools offer a different path, paved with hands-on learning and in-demand skills. Think of it as choosing the right tool for the job – the one that empowers you to build your dream career, brick by skilled brick.

So, what makes trade schools shine? Buckle up, we’re diving into the benefits:

• Job-Ready Skills, Faster: Forget years of general studies, trade schools equip you with practical skills employers crave in months or a year. Imagine welding your way to a construction job, coding your way into tech, or mastering medical assisting skills, all with a swift entry into the workforce.
  
  
• Hands-On Learning: Theory is great, but practice is king! Trade schools prioritize hands-on training, immersing you in real-world projects and simulations. Picture yourself designing websites, practicing electrical repairs, or crafting culinary masterpieces – all while gaining experience that sets you apart.
  
  
• Flexible Options: Life is a juggling act, and trade schools understand. They offer flexible schedules, including evenings, weekends, and even online options, allowing you to pursue your dreams while balancing other commitments. Think of it as tailoring your education to fit your dynamic lifestyle.
  
  
• Cost-Effectiveness: Forget crippling debt! Trade schools can often be more affordable than traditional universities, with lower tuition fees and shorter program durations. Imagine launching your career without the burden of hefty loans, leaving you free to invest in your future.
  
  
• Industry Connections: Trade schools often have strong industry partnerships, opening doors to internships, job placement assistance, or even employer sponsorships. Picture your skills landing you directly in your dream job, bypassing the cold-calling and resume shuffle.

However, let’s be honest, trade schools aren’t a magic wand. Research thoroughly, prioritize accredited programs with experienced instructors and strong industry connections. Remember, quality matters, and the right school can set you on a path to success.

Moreover, trade schools might not be the perfect fit for everyone. Consider your learning style, career aspirations, and long-term goals. Do you thrive in hands-on environments? Do your dream jobs require advanced degrees? Weigh your options carefully, and choose the path that ignites your soul.

Ultimately, “are trade schools worth it?” is a question only you can answer. Explore the possibilities, weigh the benefits against your unique goals, and embrace the journey of discovery. Remember, the right path, whether academic or vocational, leads to a fulfilling and rewarding future. So, future maker, step into the world of trade schools, explore your passions, and build your dreams. The skills you forge, brick by brick, will pave the way for a successful and enriching career. Go forth, explore, and build your future, and remember, the answer lies within your own ambition and determination!

Don’t Wait for a New Career! Take Action Today!

Are you Career training ready? Take our Career Training Readiness Quiz!

Identify goals, personal strengths, and important facts about your potential career path so you can make an informed decision about your future. It takes just a few minutes! 

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Take a short quiz and get personalized recommendations to career training courses based on your interests, experience, and goals!

In today’s economic landscape, characterized by rising inflation and increasingly stringent lending standards, educational institutions are facing unique challenges in securing adequate funding. Traditional avenues for student financing, such as private educational and personal loans, are becoming less accessible as lenders tighten their belts in response to economic uncertainties.

As a result, an increasing number of schools are turning to tuition payment plans as a viable alternative to bridge funding shortfalls. These plans offer a more flexible approach to tuition payments, allowing students to pay in installments with or without an interest component. While this shift offers immediate relief and opens up new avenues for both schools and students, it also brings its own set of complexities and responsibilities.

The Consumer Financial Protection Bureau (CFPB) recently released a comprehensive report that delves into the intricacies of tuition payment plans. The report outlines key findings and recommendations that are crucial for educational institutions to consider as they navigate this changing financial landscape.
By understanding the CFPB’s guidelines and adapting accordingly, schools can offer tuition payment plans that are not only compliant but also transparent and fair for students. This is especially critical in a time when financial flexibility is not just a convenience, but a necessity for many.

Executive Summary:

The CFPB collected and analyzed Payment Plan data from 450 colleges from Dec 2022 to Apr 2023. The results, published by the CFPB on September 2023, are summarized in this memo.

The report discusses tuition payment plans at US colleges, which allow installment payments but can resemble loans, leading to CFPB’s concern of consumer confusion due to differing terms. Automatic enrollment can result in surprise fees, including high late payment charges and potential conversion to interest-bearing loans.

Colleges may employ aggressive debt collection tactics like withholding transcripts and impacting enrollment status. Some contracts attempt to waive consumer rights. The report emphasizes the necessity of transparency and consumer protection for these plans.

Report Findings:

1) Nearly all colleges (98%) offer tuition payment plans, and an estimated 3.9 million students may use these plans each term, according to CFPB research.

2) The CFPB found that disclosure of terms and conditions for tuition payment plans is inconsistent and varies widely. This is in contrast to traditional private education loans, which have standardized federal disclosure requirements. The inconsistency may be due to the diverse range of product structures and terms within tuition payment plans.

3) The CFPB noted that some tuition payment plans may allow for automatic enrollments or forced use. Students might be enrolled without their explicit consent or due to institutional practices that make it difficult to meet tuition deadlines without such a plan. These situations could result in additional fees and financial difficulties for students.

4) The CFPB found that the average late payment fee in tuition payment plans is $30, but some colleges charge over $100 per missed payment. Additionally, some colleges may charge both late and returned payment fees for the same transaction. In certain cases, colleges may convert no-interest payment plans into interest-bearing loans if payments are missed, leading to high costs for late payments.

5) The CFPB observed that at least one-third of colleges may withhold transcripts as a debt collection practice for unpaid balances. Students may also face other severe consequences like removal from classes, meal plans, and campus housing for missed payments. These repercussions can be more severe than those associated with other financial products like federal or private student loans, or credit cards.

6) The CFPB found that some tuition payment plan contracts and related agreements include terms that may waive consumer legal protections or limit how consumers can enforce their rights. Important terms may only be disclosed once, at the initial point of enrollment, and may not be re-disclosed when students enroll in the payment plan.

Best Practices:

1) Clear and Transparent Communication: Provide clear and transparent information about the terms and conditions of the payment plan, including the total cost, payment schedule, fees, and any consequences for late or missed payments.

2) Flexible Payment Options: Offer flexible payment options to accommodate different financial situations, such as monthly or bi-monthly payments, automatic deductions, or online payment portals.

3) Reasonable Fees: Keep fees associated with the payment plan reasonable and clearly disclosed to students. Avoid excessive and duplicative fees that may burden students further.

4) Timely Enrollment: Encourage students to enroll in the payment plan as early as possible to ensure they have enough time to budget and make payments on time.

5) Financial Education and Counseling: Provide resources and support for financial education and counseling to help students make informed decisions about their payment plan and manage their finances effectively.

6) Collaboration with Third-Party Service Providers: If using third-party service providers to administer the payment plan, ensure they adhere to best practices and prioritize student interests.

7) Regular Evaluation and Improvement: Continuously evaluate the effectiveness of the payment plan and make improvements based on student feedback and changing financial needs.

Conclusion:

Tuition payment plans serve as a valuable financial tool for students, especially in an era of rising inflation and tightening lending standards. However, these plans are not without their complexities and risks. From the potential for debt accumulation to the severe consequences of late payments, the stakes are high for both educational institutions and their students.

Colleges have a pivotal role to play in guiding students through their financial journey. Yet, the pitfalls of hidden fees, unclear disclosures, and automatic enrollments can catch students off guard, particularly when they have no other financing options, effectively creating a captive market.

For educational institutions considering the implementation of tuition payment plans, compliance and transparency are paramount. With Meratas, you can launch your own customized payment plan with best practices in mind.  

If you’re committed to offering a tuition payment plan that balances flexibility with compliance, we invite you to explore how Meratas can assist in achieving this goal.

The CFPB’s full report is available HERE.

With an embedded lending platform, you can easily provide your students with seamless access to multiple lenders.

As more students seek post-pandemic career skilling and re-training, over 80% of students will need to  rely on financing to help cover their tuition costs. This challenges schools to handle the burden of managing multiple financing offers that meet the needs of their students across the financial spectrum and in different locations.

There’s an easier way to take care of your students’ financing needs. 
In this post, we’ll break down how you can seamlessly offer multiple lending options from the providers of your choice, through a standard application, and handle post-payment management, including disputes, reconciliations, and reports. This way you can focus your time and energy on providing a first-class education, while letting a platform take care of your student financing offer.

Providing Multiple Financing Options – Opportunities and Challenges

Consumers increasingly expect a choice of payment options at the moment of purchase. Lenders typically specialize in a specific lending product, and type of customer for example prime, near-prime, or subprime, and geography. This means that to meet the needs of all students, schools need to integrate more than one lender into their offer. However, this presents significant challenges:

• Integrating lenders is a complicated and time-consuming process. Integrating multiple lenders even more so.
• Schools face the headache of managing reconciliations, disputes, refunds, and other post-care processes for each individual lender.
• Schools are left without alternatives if a lender adjusts their terms or goes out of business.
• Students are required to make multiple applications, each with its own requirements, which is frustrating and can also affect credit scores.
• School administrators, admissions counselors, and financial aid staff have to learn how to use multiple lenders’ systems – everyone with its own processes.

Once these challenges are overcome, and students have quick and easy access to personalized financing that offers them flexibility and choice, schools benefit from improved approval rates, increased average tuition value, and more enrollments.

What Schools Need From a Multi-Lender Financing Platform

Schools require a consumer financing solution that frees them up to focus on the day-to-day running of their business and provide students with the best possible education. Their main concerns for a financing solution are that it:

• Offers a seamless and smooth experience that connects schools, lenders, and students.
• Includes a simple prequalification process that gives students peace of mind and provides an excellent customer experience.
• Generates high approval rates, resulting in higher conversion.
• Supports all lending activity, including reconciliation, disputes, customized reports, and communication with lenders.
• Is risk-free and eliminates balance sheet risk.

The most efficient way to overcome these challenges is through a multi-lender platform embedded within the student’s journey that offers a seamless financing experience for both the student and the school.

Why Meratas is the Leading Multi-Lender Financing Platform for Schools

Meratas is the only platform that connects schools, lenders, and students seamlessly, embedding a complete private financing solution into the student journey. Meratas’ network of over 80+ national lenders covers the entire student financial spectrum from prime to subprime and also educational and personal loan options.

Students simply need to complete a quick application and the platform will search for the best financing offers using a ‘waterfall’ method starting with prime lenders that offer the best terms, followed by near-prime, then subprime loans, or even school offered payment payments where students have even more choice. Within seconds, students are offered the best financing options based on their unique financial needs and preferences.

The Meratas platform offers the easiest and most efficient solution for schools too. It’s quick to integrate and easy to use as it enables end-to-end management of the entire financing process, including running multiple inhouse payment plan options built around flexibility towards your students’ unique needs.

How Meratas Can Benefit Career Schools

• Increased enrollment: By offering multiple financing options, schools can make it more affordable for students to attend. This can lead to increased enrollment and revenue.
• Improved retention: Students who are able to finance their education are more likely to stay enrolled and complete their degree. This can improve the school’s graduation rate and reputation.
• Enhanced student experience: Meratas can help schools provide a more seamless and personalized financing experience for students. This can make the process of applying for and receiving financing more convenient and less stressful for students.
• Reduced administrative burden: Meratas can help schools automate and streamline the financing process. This can free up staff time to focus on other priorities.
• Improved data insights: Meratas provides schools with insights into their financing data. This can help schools make better decisions about their financing programs.
• Scalable: Meratas’ platform is scalable, so it can grow with the school’s needs.
• Supportive team: Meratas has a team of experts who can help schools get started with the platform and answer any questions they may have.

Are you a school that’s looking to improve your enrollment, retention, and student experience? Meratas can be a valuable tool in your toolkit. Click here to get started! 

In 2021, the truck driver shortage reached a record high of 80,000 drivers. As a trucking school, you might’ve seen this coming given the declining enrollment rates in CDL programs.

To keep enrollment on the rise, and to make a dent in the truck driver shortage, here’s 8 things you can do.

1. Acknowledge the Financial Barriers to Attendance

CDL programs range from $2,500 to $8,000 and aren’t eligible for Title IV funding. This leaves many students unable to afford enrolling. Thus, it’s important to acknowledge the financial barriers students face, while offering proper solutions.

If you can, offer robust scholarship opportunities, or partner with local organizations to create scholarship programs.

2. Offer Flexible Financing Options

If scholarships aren’t an option, consider offering flexible financing. A multi-lender marketplace, like Meratas, allows students to submit one application and receive a list of financing options, complete with both private loans and in-house payment plans.

In-house payment plans allow you to provide the funding and receive payments directly from students. This allows you to develop custom tuition plans that fit your business goals and appeal to students. When students have obtainable financing options, they’re far more likely to enroll.

3. Leverage Data on Career Outcomes

The average base salary of a truck driver is $82,053 — significantly higher than most entry-level positions. And, given the fairly low educational barrier to entry, the job placement rate tends to be higher — around 86% for some programs.

Make sure to leverage this data to your advantage. How much do alumni of your program end up making in their first year post-graduation? Who are they working for? What is your job placement rate? Use this information to make your program stand out amidst the bunch.

4. Clarify the Requirements to Receive a CDL License

In 2022, new regulations for Entry Level Driver Training (ELDT) were released, leaving some aspiring truck drivers confused about the level of training they need. To simplify the process, consider adding a one-pager to your website that explains the process in detail.

This gives prospective students a better understanding of what they need to do, making it easier to feel confident in the decision to enroll. This also positions your school as a knowledgeable program, giving peace of mind about the quality of your program to prospective students.

5. Conduct Presentations in Female-Only Schools and Organizations

Women make up only 7% of all truck drivers — much lower than their overall representation in the workforce. Encouraging more women to pursue this field can lead to higher enrollment rates and help reduce the overall shortage.

If you’re having trouble reaching women, consider presenting to female-only organizations and schools. Utilize stories of female truck drivers to bring to life the experience, share the pros and cons, and help women feel confident in their decision to obtain their CDL.

6. Partner with Local High Schools

In some states, local high schools are expanding their course offerings to expose teens to the trucking industry. For example, Patterson High School in California now offers an elective course for seniors to help students learn workplace skills through hands-on training.

The instructor, Dave Dein, says, “If we don’t start promoting trucking to our youth, they only can make decisions on the information they have.” This makes teaching them about the trucking industry crucial.

Consider reaching out to the high schools near you to partner on an elective course on truck driving. If traditional schools don’t have such courses, reach out to vocational high schools in the area. They will already have the infrastructure needed to build out hands-on training.

This will expose younger students to the field and your program, helping you enroll more students and send more licensed drivers into the workforce.

7. Up Your Marketing Game

Want to reach a new, younger audience? Get on social media and lean into quirky content.

Colleges like Louisiana State University and the University of Utah have leveraged TikTok to create relatable, funny, trending content that reaches thousands of potential students each day. While a few trucking schools have made their way onto the platform, most aren’t using it to its fullest capacity.

Take inspiration from top universities on social media platforms and create a fun marketing strategy that’s bound to attract new students. Here’s a few ideas to get you started:

• Ask instructors what their salary as a truck driver was before becoming an instructor.
• Show a day in the life of a student in your program.
• Break down the cost to become a truck driver and show how that compares to the starting base salary.
• Make memes about misconceptions of the trucking industry.

8. Create Educational Content

The trucking industry is full of misconceptions like:

• Trucking is a dangerous industry.
• Women aren’t welcome.
• Truckers never shower.
• The hours are unbearable.
• You can’t make a good living as a truck driver.

To dispel some of these myths, create educational content. Whether you share it on social media, a blog, or in the presentations you do, breaking down misconceptions will allow more people to consider trucking as a potential career.

The Broader Impact of Low Enrollment

Increasing enrollment in your trucking program isn’t just about hitting internal goals, it’s about the industry as a whole. Without proper enrollment rates, the truck driver shortage will continue to reach new heights. With fewer truck drivers on the road, supply chains will be disrupted and consumers will be impacted.

So, while focusing on increasing enrollment, think about the bigger picture. Taking just a few small actions to get more students into your program will shape the economy as a whole for years to come.

The average vocational program will run you over $30,000 — which isn’t a small price to pay. If you’re in the process of determining how to pay for trade school, consider these 6 avenues for footing the bill.

Scholarships

Scholarships are free money, meaning you don’t have to pay them back. Because of this, you’ll want to maximize the number of scholarships you apply to and accept.

First, contact the trade school you plan to attend and ask about any institutional scholarships they may offer. Then, look for scholarships offered in your local area. Both will be far less competitive than most scholarships you find online.

If that doesn’t yield results, search websites such as Scholarships.com and Bold.org. These websites are, in essence, aggregators that compile massive lists of scholarship opportunities. That said, they’ll likely be more competitive in comparison to the aforementioned opportunities, so you’ll need to have a strong application.

When searching, try to narrow your search to specific aspects of your life. For example, try searches like:

• Scholarships for Boy Scouts
• Scholarships for disabled women
• Scholarships for Indian men

The more narrow the eligibility criteria, the smaller the applicant pool is likely to be, and the better your chances are of receiving the scholarship.

Grants

Like scholarships, grants are also dealt on a no-strings-attached basis, meaning you don’t have to pay them back either. As you can imagine, you’ll want to maximize how many grants you can rack up, too.

Most grants will come directly from the federal government. To access these, you’ll need to submit the Free Application for Federal Student Aid (FAFSA). If you’re eligible, you’ll receive notice in your financial aid award letter from the program(s) you apply to.

Sometimes, non-government entities also offer grants. These are typically need-based, meaning you’ll have to demonstrate financial need to be eligible to receive one. You can find these grants by simply searching online.

Federal Aid

After submitting the FAFSA, you’ll receive a financial aid award letter from the trade school(s) you apply to. Within this letter, you’ll see whether you qualify for any federal aid, which can come in the form of grants, work study, or federal student loans.

If you receive a federal student loan, it’s wise to accept it, but only after accepting gift aid like scholarships and grants. This is because federal student loans tend to have lower interest rates, more flexible repayment options, and the potential for loan forgiveness — three elements private student loans may lack.

Note that programs need to be accredited to be eligible to receive federal student aid. Make sure to consider this before selecting which program to attend.

Tuition Reimbursement Programs

If you’re currently employed, ask your employer about the potential for tuition reimbursement. Believe it or not, a wide range of employers will pay for your studies — some even paying 100% of the bill.

When you inquire about this, make sure to cover all the bases, asking questions like:

• What courses are eligible for reimbursement? Which wouldn’t be eligible?
• Do I need to complete the program within a certain timeframe?
• Do I need to agree to stay employed here for a certain period of time after completing the program?
• What percentage of my studies will be reimbursed? How soon after completing the course can I expect reimbursement?

Private Student Loans

After exhausting the above options, consider private student loans. Private student loans are offered by private entities such as banks and other financial institutions. They each come with their own unique interest rates, repayment plans, and terms.

To find a private student loan that works for you, submit a free application here.

Parent Loans

If you’re unable to qualify for a private student loan on your own, consider asking a parent or guardian to borrow a parent loan on your behalf. Like traditional private student loans, parent loans are offered by private organizations to parents to fund their child’s education.

Legally, your parent will be the sole individual responsible for repaying the loan, but you can contribute to repayment as you would with a traditional private loan. That said, keep in mind that some private lenders might not offer parent loans for trade schools, so you’ll need to search carefully.

Final Thoughts

When paying for any educational institution, it’s important to remember the following order of events: free aid (scholarships, grants) → earned money (work study, tuition reimbursement) → borrowed money (loans).

By accepting free and earned money first, you’ll be able to minimize the amount you need to borrow, which results in less student loan debt.

This past week education leaders gathered in San Diego for the annual ASU GSV Summit.

The ASU + GSV Summit features a diverse lineup of thought leaders who shared firsthand stories of inspiration and innovation. This conference brought together entrepreneurs, investors, and industry experts eager to start the dialogue necessary for success. From K-12 to Higher Ed, it was cool to see so many people partner together to find solutions to problems. My team and I were thrilled to join everyone, learn from each other, and share the unique insights that building Meratas has given us. 

A Brief Background

The ASU GSV Summit is one of the leading educational technology conferences and started in 2010. The summit is a collaboration between ASU (Arizona State University) and GSV (Global Silicon Valley). With 12 years of conferences, the summit always connects some of the brightest minds in the EdTech space.

The summits are full of actionable insights, human-centered connections, transformational experiences, and unexpected discoveries. The attendee list grows every year and boasts an average of 15,000 attendees. With so many thought leaders in the education space in one place, there was a lot we took away from this conference.

Make Financial Aid Make Sense

Why are stories like these so common?

“I didn’t know what to expect the first time I stepped foot in a college financial aid office. I assumed it would be the easiest part of college. Who knew I would be bawling in front of a stranger, telling them about one of the most humiliating and heartbreaking experiences of my life?” – Lizzy Shoben

“My financial-aid officer didn’t understand why I worked so many jobs or why I picked up even more hours at times.” – Anthony Abraham Jack

We don’t just need to help students have a better financial experience; we need to find ways to teach the people in the financial aid offices how to better present the options students have and how to use the tools at their disposal. For example, students today are confused when they are signing up for loans. They’re tired of trying to make ends meet, and they’re tired of the stress of not knowing what exactly they’re signing up for. So we need to re-educate educators to explain financial aid in a way that clearly presents its value.

There are fewer and fewer students going to college, and when a student’s financial aid is confusing and if they aren’t options that work for their specific situation, they will drop out. There has to be better financial literacy training for students. It could be at the high school level or offered as a free college pre-requisite class or training. Either way, students need to fully understand their financial options and which is the best option. Part of the issue with alternative options to student loans is that students aren’t familiar with them, so students are confused and aren’t set up for financial success.

If students are well prepared for their financial journey, they will be better set up for success in their academic journey.  No student should have to forgo higher education because they’re confused or worried about affording their payments.

Broadening access to education and enhancing career mobility for all students is crucial so we can better prepare workers for the jobs of today and the careers of tomorrow. 

Students Need to be Career Prepared and have Access To Additional Options

“ A national labor shortage has benefitted workers in the form of higher pay and greater agency in choosing an employer. In turn, employers —especially those with urgent shortages in essential roles— are seeking to differentiate. “They realize the difference they can offer to workers are skills, and workers don’t ask for skills. Instead, they ask for career advancement,” –  Romer Carlson explained at the Summit. 

The demand for career advancement drives a need among working adults to acquire new skills and competencies. At the same time, institutions are working to fill their seats. By meeting that demand together, employers can strengthen talent attraction and retention, articulate career mobility pathways, and address skills gaps by offering access to education through better financial options.

Romer Carlson also pointed out that this is a key area where major employers can make a huge difference. “…the striking thing that we find in our work with employers on one side and university partners on the other is that, at some level, the average CEO now has more insight into the skills we need five years from now than then a university president has access to and that’s a problem. We need to get that data available to everybody.”

Students Need More Options

Offering students more options to pay for their education at your institution is crucial to both schools’ and students’ success. The more options students are given and the better they understand these options, including which is the best option for where they are in life, the more likely they are to pursue their education of choice and have a better overall experience. 

The ASU GSV summit allowed me and my team to learn from the innovators, entrepreneurs, educators, and changemakers from around the country, and I’m thankful for that. By gathering the top minds and leading companies from across the industry, untapped potential is discovered, trends are identified, and innovators find inspiration for changing the future of their business.

 My team and I at Meratas are on a mission to unlock opportunities for those looking to upskill or start a new education. If you’re interested in helping your students do this, check out our Partner’s Page to learn more!

We get it – the stats aren’t the most motivating. College enrollment dropped 4.7% between spring 2021 and 2022, and many experts are suggesting that this decline is here to stay.

As an institution, however, simply making peace with it isn’t enough. Having low numbers year after year isn’t sustainable, and it’s crucial to set up your game plan for keeping enrollment as high as possible.

If you’re curious about how to increase enrollment, here’s 6 simple steps to help you get there.

What’s Inside:

• Up Your Marketing Game
• Get Comfortable with Video
• Make It Easier for Students to Get Financing
• Improve Visibility with SEO
• Secure More Reviews from Students
• Lower Your Response Times with Automated Messaging

#1: Up Your Marketing Game

We know you’ve heard it before, but hear us out. The marketing world is changing, and it’s important to keep up.

Put yourself in a potential student’s shoes — what type of content would resonate with you? If your strategy feels stale and you aren’t excited to launch the content, your audience will likely feel the same way.

Instead, look to institutions having success online and mirror what they do. Take the University of Georgia and Baylor University for example. By hopping on platforms where their future students exist and creating content that is both entertaining and informative, they’ve been able to grow a presence online while attracting new applicants.

#2: Get Comfortable With Video

It’s official — we’re living in the era of short-form video. With the rise of TikTok, Instagram Reels, and YouTube Shorts, more and more people have grown comfortable with absorbing bits of information through easy-to-digest video content. For schools, this creates an incredible opportunity to leverage video content to attract and retain new students.

It’s what platforms are prioritizing in their algorithms, which means your content is likely to perform better, too. Some studies even report that video content performs 1200% better in comparison to other formats. This comes as no surprise given that Instagram favors Reels in its algorithm, and LinkedIn video content gets nearly 5 times the engagement.

Plus, customers retain 95% of the information they watch in a video, and 37% of them watch videos all the way to the end. By capturing more students’ attention, they’re more likely to remember your content and your institution when it comes time to enroll. 

If you’re finding that static content like newsletters, traditional social media posts, and static ads aren’t generating the results you want, try implementing video content into your strategy.

#3: Make It Easier for Students to Get Financing

Creating a killer TikTok strategy will help in creating a well-rounded strategy to increase enrollment, but it won’t address the root issue — a lack of flexible financing options. Reality is, the cost of an education has grown tremendously, and wages aren’t mirroring this growth.

This leaves 38% of students opting to not enroll, simply due to their fears around the cost of an education. While you can’t hand them a check, you can provide them with flexible financing options that make affording that cost much more simple.

A lender marketplace, like Meratas, requires minimal setup and upkeep but generates long term results. Unlike the traditional loan process — which requires students to hop from site to site in search of a loan — Meratas provides you with the all-in-one solution. Students get access to an entire marketplace built for them, with a variety of loan options to choose from.

When students have the means to afford the education they desire, and when they experience less friction in acquiring a loan, they’re far more likely to convert into a fully enrolled student.

#4: Improve Visibility with SEO

SEO, or Search Engine Optimization, is the process of getting your institution’s web pages to be recognized and ranked by Google. Once you’ve got a solid SEO strategy down, prospective students will be able to find your website when searching for related questions like “Best certificate program for tech” or “Top trade school near me.” 

If your website isn’t ranking in searches, however, it’ll make it significantly harder for eager students to find your institution when looking online. Nearly 25% percent will click the first link that shows up, leaving your institution’s pages unclicked and unnoticed.

While implementing an SEO strategy can take a bit of legwork upfront, you can reap the benefits of it for years to come. 

#5: Secure More Reviews from Students

Think of enrolling like booking a luxury vacation — you likely wouldn’t book a hotel or an excursion without checking the reviews. Before spending your hard-earned cash, you want to ensure the experience will be enjoyable, worth your money, and legitimate.

Choosing where to enroll for an education is similar. Prospective students wonder what the program is really like, whether other students have enjoyed their experience there, and if the program will be worth shelling out a few thousand dollars for.

To bridge the gap, encourage students — both current students and alumni — to submit honest reviews about their experience with the program. They can do this through Google My Business, sites like Niche, or directly through your website. Then, incorporate their statements in marketing materials, such as social media posts and on your website.

#6: Lower Your Response Times with Automated Messaging

Support throughout the enrollment process is key, and today’s students expect speedy response times to their inquiries. If you’re taking a bit longer to respond, it might leave students feeling unsupported, which doesn’t give them the warm and fuzzy feeling they’d prefer to have when making their enrollment decisions.

Instead, implement automation software that lets prospective students know you’ve received their question, are working on an answer for them, and will get back to them as soon as possible. The more supported they feel, the more likely they are to think fondly of your institution when it comes time to select where they want to enroll.

Of the roughly 50% of employed Americans who intend to make career changes because of the COVID-19 pandemic 33% are interested in changing industries.

It’s difficult for hard-working students and career-changers to get into the new careers they want because of the ever-increasing cost of education. 

Many times students analyze the debt they’ll have to take on to upskill or get a new career and opt to skip higher education altogether, making it harder for them to find lasting careers that help them build the life they want and the fulfillment in their careers that they need.

What if there was a better way to pay for education? What if you could use a type of payment you’re probably already using  to pay for the training to get a better career? 

1. What is Buy Now, Pay Later? 

“Raise your hand, who else has an online shopping problem?” There’s a couple of us over here at Meratas that definitely do…

If you’ve shopped anywhere online, you’ve probably heard of companies like Affirm and Klarna that let you pay for products in installments, instead of upfront.

You’ve probably seen this offer—

“Buy Now, Pay Later!” Just four installments of $19.99!

Basically Buy Now Pay later is structured so that you’ll pay an initial part of your full shopping trip and then pay the rest in 4 or so payments over a period of time. (Typically 6 weeks.) 

Buy now pay later (BNPL) platforms that allow customers to make purchases in installments are growing in popularity in the United States and being used like never before.

“43% of the U.S. adult population, some 111 million consumers, say they are interested in using BNPL solutions to pay for big-ticket service purchases. Travel, remodeling and medical expenses top the list.” According to a study by AWS on Buy Now Pay Later models. 

So what does that have to do with education or a new career? 

2. How to use BNPL to launch your career

Eighty-three percent of consumers who would like to use a BNPL option to make big-ticket service purchases say they see it as a practical alternative to using personal loans and credit cards for those purchases.

So what if there was a way to use BNPL to pay for your education? 

At Meratas, we took BNPL and created a way to use it towards launching your career!

Learn Now, Pay Later

The Pay in 4 is a Meratas tuition plan that separates tuition payments into four installments over the course of several months. Pay in 4 was created using Buy Now Pay Later models. You pay for your education in 4 installments over a period of time. (Varies depending on your program.) 

We partner with programs, bootcamps, and higher ed institutions that will allow you to use the same payment method you use to buy a computer or new watch to pay for your education and build your career!

You’re probably already using BNPL for your everyday purchases. Instead of taking out a traditional private student loan, why not use that same payment method to pay for your education and build your career?

Are you looking to start a new career and invest in yourself in 2022? Meratas can help – check out our Students Page for more info on how we can help you get the career you’ve always wanted!