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Discover how Academy D A and Lumion redefine educational accessibility through tailored payment plans, empowering students to pursue their dreams. Uncover the impact of their innovative payment structure, not only breaking financial barriers but also elevating student enrollment and optimizing collections at Academy DA.
“There's no credit check, no additional fees to student. I set the deposit amount I'd like to receive and students choose the repayment that best fits their budget. This system allows me to be adaptable to any situation. I can assist every student as needed.”
Table of contents
Objectives:
- Transitioning from a 20-year HR career to pursuing dental hygiene, Dwayne founded Academy DA to offer the same transformative experience he received from his education, to others.
- Aimed to make education more accessible by offering customizable payment plans tailored to students' financial situations.
Challenges:
- Faced hurdles, including certification, licensing, and regulatory requirements to establish Academy DA.
- Had no concrete payment solution before the program's launch, leading to uncertainty in structuring payments for students.
- Struggled to effectively communicate the benefits of payment plans, resulting in difficulty sparking student interest.
Solutions:
- Collaborated with Lumion for a robust payment management system, offering responsive, human-centric support.
- Implemented a system allowing students to build their own payment plans based on their financial capacity.
- Developed clearer communication emphasizing no credit checks, zero fees, and minimal down payments to make education financially feasible.
Impact:
- Expanded Access to Education: Tailored payment plans attracted more students by addressing their financial constraints, leading to higher enrollment rates.
- Responsive Partner Support: Partnership with Lumion provided responsive, partnership management, aiding in student communication, tuition structuring, and problem-solving.
- Hands-Off Collections Process: Lumion's efficient system eliminated the burden of researching standards and processes, providing Academy D A with a hassle-free, optimized collection process.
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