We’re excited to announce that we are set to be rebuilding Young Enterprise’s Student Calculator – launching in January 2020.
In line with Young Enterprise’s commitment in supporting more young people in fulfilling their true potential, in June 2019 Young Enterprise formed a collaborative partnership with Quo Money, an emerging UK fintech, to overhaul its legacy student cost calculator.
Committed to helping all students and parents understand the true cost of going to university, Young Enterprise and Quo Money have worked extensively together to develop a unique proposition that will both engage and inspire students to pursue their education. “We are particularly interested that the new calculator can help those from low income understand the true costs of university and the help available for funding” said Russell Winnard, Director of Programmes and Services at Young Enterprise.
The updated Young Enterprise Student Calculator will stand apart from other tools available within the public domain, providing valuable insights designed to help students to make informed decisions about their future. From considering different universities to confirming their place, the Young Enterprise Student Calculator will support students throughout the application process, providing relevant prompts to help students refine their budget and sharing relevant content curated by Young Enterprise.
The updated student calculator will allow students to:
- Compare up to 6 universities
- Allows input for bursaries and parental contribution, bursary etc
- Allows refinement of all factors for the final plan
- Shows the student / parent the true cost
- Shows the student how many hours they may need to work
Young Enterprise and Quo Money have conducted extensive research into the varying cost of going to university, incorporating cost variability for factors such as geography and accommodation type. Our research covers 188 universities, providing complete coverage across the UK to determine accurate costings for all aspects of student life.
Young Enterprise will look to leverage existing networks to promote the updated student calculator and achieve maximum adoption. This will include:
- Creation of education packs, showcasing the use of the tool within schools & FE colleges, including accessing Quo Money’s follow on cashflow forecasting tool
- Promote the student calculator tool through national press coverage, with key stakeholders, and through the financial education newsletter.
- Engage MPs in the use of the calculator to enable young people to make more fully informed decisions about university.
Once the student has made their decision of which university to attend, students will be presented with Quo Money, providing them with a fully costed plan and allowing them to start university in control of their finances.
“We are developing a highly interactive offering that helps students make informed decisions about their future, setting the bar for future partnerships” said Matthew Vernon, CEO of Quo Money.
We’ll be sure to share insights and updates on this project as we progress ahead of a January launch.