Hey! Reader,

Your students are already using Buy Now Pay Later. Does it make sense to give them the option to use this model for education?

Buy now pay later (BNPL) platforms, that allow customers to make purchases in installments, are growing in popularity in the market and being used like never before.

Younger generations are hopping on the trend to save money instead of using traditional credit cards with steep interest.

Platforms like Afterpay, Klarna, and Affirm allow users to make big box purchases like a new computer without shelling out the entire cost upfront. Instead, they typically let users pay in four installments over a few weeks or months. As a result, the BNPL industry is now worth $97 billion and set only to increase.

So what about education?

You may be thinking, ‘Buy Now, Pay Later works great for retail, but how would it work for education?’ It turns out it’s already working quite well.

A study (link below) by AWS shows that Buy Now Pay Later is a popular option for Millennials and Gen Z, but they are also already using this model to pay for their education.

Your students are already familiar with Buy Now Pay Later for their everyday purchases.

Four easy payments of $19.99 are becoming the default choice when shopping.

With your students already paying for many of their significant purchases with BNPL, doesn’t it make sense to give them the option to use this model to help them achieve their learning goals?

P.S: We would love to hear from you! Let us know what you would like us to feature/cover.

Regards,
​Neeraj Krishnamoorthy