How helping families budget is impacting student education and enrolments
Families are experiencing the growing cost of living in many ways, whether it’s the size of the weekly grocery bill or the cost of a night out. With less income to save or put towards a rainy day, this is increasing the challenges with household budgets and the importance of budgeting.
When it comes to helping families budget for school fees, keeping students enrolled, and ensuring students stay in their preferred schools, we found that being proactive rather than reactive is essential for navigating future headwinds.
The need for proactive budgeting
Families have seen their budgets stretched further by rising costs, leaving less money available for education. Proactive budgeting is a good idea as the cost of living continues to rise.
By taking action and planning ahead, families can adapt to unexpected changes in income or out-of-the-blue expenses, giving them the confidence to choose the education they want for their kids.
Our latest survey of 1,100 customers has shown that being able to align school fee payments with their budget and the flexibility in adjusting payments using Edstart has made a positive difference to their child’s education.
Helping families budget for school fees
Our customer survey revealed that 88% of families indicated that Edstart has positively impacted their kids' schooling.
Over three-quarters of parents (75.4%) have revealed that working with Edstart has made a meaningful difference by enabling their children to attend their preferred school, which is helping schools attract and retain enrolments.
This includes almost one-third of parents telling us they wouldn't have been able to keep their children at their current school without Edstart.
Positive impact for families
This trend is relatively consistent between families who are using our payment plan option after actively searching for flexibility outside of their school’s offering and those who are using our fee platform for schools.
Over two-thirds of our fee platform customers indicated that Edstart has had a significant positive impact on keeping their children attending the school of their choice.
Key ways of helping families budget and schools with enrolments
Using Edstart to manage their school fees, our customer feedback has shown the importance of flexibility and making it easy for families to budget for school fees.
Our families have the choice to align school fee payments to when they get paid instead of paying upfront as a lump sum or based on the school's billing cycle. The flexibility to adjust payments with unexpected income changes or expenses means customers can confidently adapt when their situations change.
With visibility and certainty when payments are made, our parents can also track and view fee payments in real-time via our customer portal.
By providing more tools for families to budget for school fees, we’ve been able to help families get the student education they want and school with their enrolments.
About Edstart
Edstart is a leading technology and financial services company providing funding and payment services for education. We offer fee management solutions to schools and flexible payment plans to parents to help make school fees easier to manage.
To see how we can help you, visit our main website.
Find out more
Edstart is a leading technology and financial services company providing funding and payment services for education. We offer fee management solutions to schools and flexible payment plans to parents to help make school fees easier to manage.
To see how we can help you, visit our main website.
Find out more