One difficulty that any business owner may have come with at some point when running their company is managing finances effectively. Fortunately, certain trustworthy and effective digital platforms have been developed to simplify these procedures. A digital infrastructure called Schoolable gives school business owners all the resources they need to run their operations successfully. You can learn everything you need to know about this financial management company here.
A financial services management platform called Schoolable offers services for product development as well as services for managing finances, saving money, EdTech, and business tools. This digital infrastructure provides all the fundamental tools required for managing school operations.
Angela Essien and Henry Chibuzoin are the owners of the business, which they launched in 2018. Schoolable, a company that specializes in tech, financial management, EdTech, product development, and other financial services, is well known for its effectiveness in helping schools manage their funds. This platform makes it simple for guardians and parents to save money for their children’s or wards’ education.
Services Provided By Schoolable
The platform provides the following services to school owners:
1. Simple Reconciliation
Every student in your school receives a special account number from Schoolable. You can essentially find out the precise sum paid, the moment it was paid, and other crucial details regarding the transaction thanks to this.
2. Student Billing
This software has an invoicing tool that enables you to keep track of the precise amounts your students have paid and owes. Half payments can be effectively recorded, discounts can be controlled, and a reminder alerting parents and guardians to unpaid school bills can also be set up.
3. Various Payment Options
For the convenience of the students, Schoolable offers a range of payment options. They only need to send money into the family account that the website has set up for them. Students can easily settle all outstanding debts to the school through this account.
The stress and preparation parents go through to prepare for their child’s school expenses is reduced by this saving tool offered by Schoolable. Savings are almost automatic, and you can earn interest on the money you put aside.
Last but not least, the platform allows for flexible financial management. This means that you are free to choose whether you wish to keep your school payments on your Schoolable account or transfer them to any Nigerian bank account of your choosing.
How To Register On Schoolable
Below is how you can register and set up your account on Schoolable:
- Log in to the website, www.schoolable.co
- Next, click ‘Open an account’
- Finally, enter your information and press the “register” button. You’ve successfully opened an account on Schoolable.
Borrowing Money From Schoolable
Parents who lack the funds to cover their child’s tuition costs have access to schoolable loans. After opening an account, you are qualified to apply for a loan, and you can get one by following the prescribed procedures. In essence, Schoolable would serve as a go-between between the parent and the school, ensuring that loans are repaid over a pre-planned period of time.
How to Apply For Schoolable Loan
The steps below outline how to apply for a loan through Schoolable:
- Visit the Schoolable website and log in or register.
- Navigate to the “apply for a loan” area and select the apply button.
- Provide the necessary information and complete the forms
- You would be notified whether your loan application was successful or not.
What is the savings limit on Schoolable?
Saving on Schoolable can begin with as little as N100 and there are no limits on the maximum amount that can be saved.
What savings schemes are available on Schoolable?
The site essentially offers two saving schemes. They do;
1. Recurring Plans
This plan allows you to save money on a daily, weekly, or monthly basis for at least three months. All you have to do is specify the sort of savings plan you wish to use, and the platform will manage the rest.
This guarantees that money is stored automatically on the specified day when using the payment plan of choice. This strategy is further subdivided into three sub-plans: “Baby bloomer plan,” “Secondary school plan,” and “termly tuition savings plan.”
2. Save As You Go
Savings are manually topped up under this scheme. This is a strategy that you can choose if you find it difficult to maintain automated saving options, especially if your earnings flow is irregular.
How Much Interest Do I Earn On My Schoolable Plans?
The platform provides a good competitive interest rate on an annual basis, and this return is credited to your account every day.
Is There A Mobile App For Schoolable?
The platform has a safe, trusted, and reliable website where all operations related to the platform’s services are carried out. Accounts can be set up on the website, and you can then manage your school’s finances and savings. Schoolable does not currently have a mobile app.
How to contact Schoolable
You can contact Schoolable via:
- Address: Close 1, Victoria Garden City Lagos, Lagos 23401, NG
- Phone Numbers: +234 814 714 0714 or +234 903 000 9647
- Website: www.schoolable.co
- Email Address: [email protected]
Schoolable is a financial management platform that gives the tools needed to manage the finances of a school. It allows parents to receive loans and save for their child’s education fees. In general, the platform is geared to making school finance administration, savings, and EdTech simple and painless for those who are interested.