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!