The problem of handling finances efficiently is one that every school owner may have encountered at one point or the other. Fortunately, certain digital platforms aim to ease this process. Schoolable is a digital infrastructure that provides you with all the basic tools you need to effectively manage your school business. Here is everything you need to know about the financial management organization.
An Overview of Schoolable
Schoolable is a platform that provides school finance management, EdTech, Savings, business tools as well as product development services. Basically, this digital infrastructure offers you all the tools you need to effortlessly manage your school business.
The organization is privately-held and was founded by Angela Essien and Henry Chibuzoin in 2018. They specialize in school finance management, Tech, EdTech, and product development. With Schoolable, your school’s finances are in safe hands. This platform helps parents save easily for their child’s education.
What Services does Schoolable offer?
Here is a list of services that the platform offers school owners:
1. Easy Reconciliation
This platform provides every family or student in your school with a unique account number. Basically, this enables you to know the exact amount they pay, the time they pay, and other information about the transaction.
2. Student Invoicing
Schoolable invoicing feature allows you to keep records of the amount every student owes your school. Basically, you can track half payments, manage discounts, and set an auto reminder to update parents of their outstanding school bills.
3. Multiple payment channels
This platform provides students with multiple payment channels for their convenience. They can simply just transfer money into their family account, which the platform provides for them. From this account, they can directly clear all their unpaid bills in the school.
4. Saving
The Savings feature removes the stress and planning parents go through in order to save for their child’s school fees. Basically, your savings are automated and you earn competitive interest on every amount you save.
Lastly, the platform offers you flexibility. Basically, this means that you can decide where you want all school fees payments to go. You can decide to leave it on your Schoolable account or move it to any bank account in Nigeria.
How can I register on Schoolable?
Here is how to register and set up your account on Schoolable:
1. Log in to the website, www.schoolable.co
2. Next, tap “Open an account”
Lastly, enter your details and click on “register”. You have successfully created your account.
Can I obtain a loan from Schoolable?
Yes, you can. Schoolable loans are available for parents who are short of cash to pay up their child’s fees. You can apply for a loan after opening an account and receive one by completing the process. Basically, Schoolable would act as an intermediary between the school and you as a parent, ensuring you pay up over a pre-agreed period of time.
Also, read on 5 Simple Steps To Avoid Loan Rejection.
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How to apply for a loan at Schoolable?
Follow the process below:
1. Login and register on the Schoolable website
2. Navigate to the “apply for a loan” section
3. Supply the required information and fill out the forms
4. You would be informed of the success or failure of your loan application.
Also, read on 5 Common Reasons Your Loan Application May Be Rejected.
What is the limit on my savings on Schoolable?
You can start saving with as low as N100 on the platform with no restrictions on the maximum amount that you can save.
What are the Savings plans available on Schoolable?
Basically, the platform provides you with two savings plans. They include:
1. Periodic plans
With the Periodic plans, you can save money on a daily, weekly, or monthly basis for at least 3 months. You just need to indicate the type you are interested in and the platform handles the rest.
They ensure that your money gets saved automatically on the specific day you choose. This plan is further divided into the baby bloomer plan, the secondary school plan, and the termly tuition savings plan,
2. Save As You Earn
This plan is topped up manually. If your earnings flow is not regular, and you find it difficult to keep up with automatic savings, you can opt for this instead.
Basically, these plans are what every user can access via the platform.
How much Interest do I earn on my plans with Schoolable?
The platform offers you a competitive interest rate annually and this return accrues to you every day.
Does Schoolable have a mobile app?
No, they do not have a mobile app yet. However, you can create your account via their website and take charge of your school’s finances and savings.
How can I contact Schoolable?
You can contact Schoolable via the following ways:
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: hey@schoolable.co
Bottom Line
Schoolable is a platform that gives you all the tools you need to manage your school’s finances. Also, it gives parents a chance to obtain a loan or save towards their child’s fees. In all, this platform is dedicated to making school financial management, savings, as well as EdTech easy and seamless for individuals.
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