Frank, a startup, which is popular for helping college students secure and manage financial aid, is expanding work operations into a new part of the Edtech world. It will help students find and take online classes by helping them deploy their financial aid money to open digital slots at more than 100 colleges.
As a company, Frank overlaps the ground between consumer fintech, which helps regular people better manage their money, and edtech, the application of tech to the venerable business of learning. Frank recently raised USD 5 million earlier in the year.
According to its CEO, Charlie Javice, her company has grown this year. Javice also says that Frank’s new class-finding service could likely become a primary driver for her startup.
Frank is teaming up with colleges to offer discounted classes. The startup will also help its user base utilize financial aid to help pay for their selected classes, possibly helping folks take more credits without extra debt.
According to its CEO, Charlie There are about 125 schools offering classes on the platform today, out of a rotating cadre of 350. The Classfinder website claims 7,520 courses up for selection today.
According to its CEO, Charlie When asked if offering access to online classes was a deviation from Frank’s better-known effort to help more students get more financial assistance in their college pursuit, CEO Javice said that Classfinder fits her company’s mission, which is higher-education affordability. She further added, “Provided the model works, it could be a win-win situation for all the people involved. Colleges have a spare digital capacity for students, and many students don’t have money for school, so if Frank can help those same kids get financial aid and deploy it to discounted, accredited classes, no one loses.”
According to its CEO, Charlie Classes taken with Classfinder also count at other schools. Frank says yes it will help prepare the needed information for some students the system could be a way to boost college affordability while not sacrificing learning.
According to its CEO, Charlie Due to the pandemic, digital education has been the norm this year, to middling results. Amongst children, the move to online schooling has been widely panned. But for higher education, online instruction was already an evolved industry even before the pandemic. Perhaps it may become a normal norm in some time.
According to its CEO, Charlie Guild, which became a unicorn in 2019 after raising a USD 157 million Series D, helps corporate employees take continuing education classes to help upgrade their careers. Even as the world of online classes clutters up, Frank’s decision to focus on college instead of the broader life-long learning market means that it thinks higher education isn’t disappearing.
According to its CEO, Charlie Frank will be able to inform in a quarter or two to see how the new product will help, its growth trajectory. If it does, Frank may likely raise a Series B in the next few quarters.