Schools are excited about the benefits of this new tool: increased net tuition revenue with a long term payment plan and 0% APR to students and families. - Matt Scotty, President, National Education
Chicago, IL (PRWEB) February 24, 2012
National Education‘s SAGE Tuition Advantage program offers a 0% APR* financing option for students.
At a time when tuition and discount rates are at record highs, National Education and SAGE Scholars have created a product for schools to increase net tuition revenue, promote student retention and manage tuition discount rates.
SAGE Tuition Advantage is a 0% APR* financing option that schools can offer their students in lieu of a discount. The program does not affect any of the school’s current revenue from other sources such as Federal Direct Loans, private loans or tuition payments made by the students and their families. Colleges simply replace a portion of their current unfunded discount dollars with SAGE Tuition Advantage.
The program is attractive to both schools and students because of the 0% APR* financing. Payments are deferred until 6 months after separation from school and no interest is charged until the loan converts to repayment. Students are rewarded by having a portion of the principal balance forgiven if they graduate from the issuing institution and another portion forgiven for making timely payments.
Schools make no up front investment and benefit from partnering with a nationally recognized servicer to administer the program (National Education Servicing received ‘Exceptional Performer’ recognition from the Department of Education). The additional revenue stream to the school occurs as the loans are repaid, and in a lump sum when the loans are securitized. Matt Scotty, President of National Education says “Schools are excited about the benefits of this new tool: increased net tuition revenue with a long term payment plan and 0% APR to students and families.”
Just how much money can be saved? Colleges can explore projected revenue figures by visiting:
*0% APR with earned benefits, 2.55% APR without.
SAGE Scholars, Inc., established in 1995, has created the nation’s largest private college savings program, with more than 190,000 participating students and 288 participating colleges (43 states). Families who save in programs such as the Pennsylvania and Wisconsin state 529 Plans are rewarded with Tuition Reward Points – similar to frequent flyer miles – that can be redeemed for guaranteed minimum discounts if students are admitted to and attend a member college, beginning with the freshman year.
National Education, established in 1988, is a financial solution company sharply focused on developing, marketing, originating and servicing education financial products. National Education has received the “Exceptional Performer” designation from the U.S. Department of Education.
For more information, contact:
Matt Scotty at 800.345.4325 ext 5173, President, National Education Servicing
Justine Gianandrea at 800.345.4325 ext 5324, Senior Vice President, National Education Servicing
Dr. Jim Johnston at 215.564.9930, President, SAGE Scholars