Edmit and Vemo Partner to Help Students and Colleges Quantify Return on Education Investments
“We set out to help students and families understand and predict the return on a college degree, because we know that information gaps can suppress the aspiration to go to college or drive students. students not to be matched at institutions that may not be suitable, “said Nick ducoff, co-founder and CEO of Edmit. “Vemo took on the same challenge from a different perspective: helping link costs to outcomes and helping colleges better communicate their value to students.
Despite record application rate at many colleges in the wake of the COVID-19 pandemic, research suggests that first-generation students and those from low-income households were less likely to apply. These persistent disparities often stem from concerns about tuition hike and confusing information on the cost of college. Vemo and Edmit will work to address these access and affordability challenges by providing greater transparency for students and families, and helping colleges more closely align tuition fees with graduates’ career outcomes.
“Schools and students need to think about more than the initial cost of a college education. They also need to think about professional outcomes on the other side,” said Tonio DeSorrento, co-founder and CEO of Vemo Education. “By partnering with Edmit, we give schools visibility into the college decision-making process that they have never had before. It’s about helping colleges understand – and then support – their value, to prove that the cost of education is worth it, or to make changes when they don’t set the right expectations. “
Edmit, which will retain its name and operate independently, provides students and families with a research-driven platform that demystifies financial aid and helps students make sound financial decisions about their post-secondary education and career choices. career. The company will continue to work with financial institutions and high schools to offer its financial education and planning tools to families who want advice on their college decision.
Founded in 2015, Vemo Education is best known for designing and deploying more than 100 Income Sharing Agreement (ISA) programs in institutions, including Purdue University, the University of Utah, and Messiah’s College. ISAs provide students with initial education funding in exchange for a fixed percentage of their future income for a specified period of time, provided that the students land a job earning more than a minimum amount after college.
Edmit helps families make smarter financial decisions for their education so that they are better off after college. Designed by former college leaders, Edmit’s tools and resources for saving, planning, and paying for college has saved families millions of dollars on tuition fees and loan repayments. Edmit’s software provides families with personalized reports on how to pay college, including cost estimates and financial adequacy scores based on the projected ability to repay student debt. Edmit’s book, Better after college, released in late 2019, was a # 1 bestseller on Amazon. For more information on Edmit, visit www.edmit.me.
About Vemo Education
Vemo Education is transforming the way schools attract students and measure results. Colleges and workforce development organizations use Vemo to align tuition fees with student success. From redesigned financial aid to data-driven enrollment management, Vemo partners with schools to advance clear strategic goals: higher performance, improved retention and accelerated completion. Learn more about www.vemo.com.
SOURCE Vemo Education