Boost enrollment with the Global Payment Plan
We're on a mission to make education affordable. The Global Payment Plan is administered by EdAid, an FCA authorised platform that provides students with fair & affordable and flexible payment plans to spread their tuition fees into affordable instalments.
We believe that finances should never be a barrier to education. The Global Payment Plan:
Antidote to expensive private loans
Admitted/accepted students can go on to fulfill their true potential. Reducing the upfront payment, spreading cash flow demand & lowering overall cost for students while increasing revenue per cohort for Universities (especially in these challenging economic times when Covid-19 may be having an impact on student numbers).
How It Works
A simple 0% interest payment plan paid for in equal instalments over 12 months.
Once a student is enrolled, EdAid will collect their deposit and each monthly payment on your behalf.
EdAid is able to collect payments from Students in 180 countries.
Once admitted, EdAid will onboard your students by performing a series of background and affordability checks.
Once verified by EdAid, your students will sign their GPP Agreement and we will collect their deposit payment and transfer directly to you.
Monthly payments will be in equal instalments over 12, 24, 36 months with zero interest charges.
The Important Stuff (FAQ)
Offering the Global Payment Plan
How can I find out more about partnering with EdAid to offer this payment option to my students?
You can reach out to [email protected] to set up a call to discover more about offering your students the Global Payment Plan.
How can EdAid help us?
EdAid helps leading universities and education programs attract and retain nontraditional students, grow their enrollment, and improve retention.
We do this by taking the complexity out of flexible payment arrangements for students on a global scale.
Education providers partner with us to offer students across markets the flexibility to pay for tuition over a 12+ month period, interest free.
What are the typical eligibility requirements the Global Payment Plan?
Our team will work with you to help determine the requirements for your offering.
As part of the verification process, students must have a national identity number & bank account in their domestic country.
They will also be required to provide a copy of a government-issued ID, like a passport or driver's license.
Is the Global Payment Plan considered a loan?
No. The 12 month payment plan is not a loan, and there are no interest charges or application fees.
Why isn't there interest on this payment plan?
We believe in fair, affordable access to education. We're comitted to lowering the current barrier to entry for nontraditional students.
We partner with education institutions who share this commitment.
What are EdAid's fees?
Fees vary based on the scope of your payment plan.
Typically, partners pay EdAid a one-time onboarding fee per student and a monthly servicing fee.
Reach out to [email protected] for more information.
Who decides which students can participate?
You, the education provider, will define the criteria to determine which students can utilise the Global Payment Plan.
EdAid will work with you to help create these to suit your needs.
Through this option, can we offer funding for living costs, accommodation, and other expenses beyond tuition?
The Global Payment Plan is only available to fund tuition costs, and not additional costs.
What are the criteria used to determine eligibility?
EdAid will work with you to set appropriate eligibility criteria for your payment plan.
EdAid assesses students' eligibility based on a comprehensive risk assessment that includes identity verification and affordability checks defined together with you, the education provider.
Who is the team behind EdAid?
EdAid is the leading administrator of student payment plans across the globe, with offices in the UK, USA, Canada, Australia and the Middle East.
We're on a mission to help universities increase student access, retention and outcomes by offering affordable payment plans.
Application & Payments
How much time will the application process take?
EdAid on-boards your students, and processes and verifies their application within 24-72 hours.
How does payment work?
Students pay their deposit up-front and split their remaining tuition balance via monthly installments, with zero interest.
How much will my students pay?
Payments are interest free. Students in good standing will only pay the amount of your tuition, and nothing more.
When do payments begin?
A deposit is due upon application approval, and payments begin the 1st of the following month.
For example, if the student's enrolls on April 14th, their first monthly installment will be due on May 1st.
When is the deposit payment due?
Students pay their deposit via EdAid once they are verified and ready to sign their payment plan.
Can students pay ahead of schedule? Is there an early-payment penalty?
Yes, students can pay ahead of schedule. There are no penalties or fees for early payment.
What happens if students fail to make payment?
If a student fails to make a payment, EdAid will manage collections protocols with the student.
Where appropriate, EdAid will apply forbearance and allow more time for the student to make payment.
If a student deliberately fails to make their payments, then the education provider may decide to take further action, including terminating the student's enrollment in the education program.