Member Exclusive

‘If you try to screw over students, your company dies’: On Frank’s student-driven financial wellness platform

  • Inclusivity and ESG values are getting newfound focus in the financial industry.
  • Frank’s financial wellness platform for students is growing in popularity.
close

Email a Friend

‘If you try to screw over students, your company dies’: On Frank’s student-driven financial wellness platform

In 2020, student loan debt reached a record high of $1.57 trillion — a 12% increase compared to 2019. For reference, between 2015 and 2019, loan debt grew on an average rate of just under 6%.

New York-based fintech company Frank is a four-year-old financial wellness platform designed for college students. The platform streamlines the financial process surrounding college and university.

According to Charlie Javice, CEO and founder of the company, when she started Frank, the market was filled with a lot of solutions for college graduates, but not for the before and during stages.

“The market was very much concentrated on financial wellness and financial products for college graduates, but there really wasn’t much out there for people that were in the process of going to school,” said Javice. “Yet, that was the time that people made the most important financial decisions that could impact the next 50 years of their lives.”

 


This content is available exclusively to Tearsheet Outlier members.

Tearsheet Outlier information and signup Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account

0 comments on “‘If you try to screw over students, your company dies’: On Frank’s student-driven financial wellness platform”

Member Exclusive

First-ever bitcoin ETF BITO launches

  • ProShares' bitcoin ETF does not hold bitcoin directly, but instead invests in the cryptocurrency's futures.
  • The ETF is intended to give exposure to investors who do not want to go through the hassle of buying bitcoin directly.
Subboh Jaffery | October 22, 2021
Member Exclusive

With Extend partnership, Amex wants SMBs to create more virtual cards

  • American Express has teamed up with Extend to launch a virtual card solution for its small business customers.
  • Virtual cards provide security and flexibility for SMBs and can help them improve cash flow.
Ismail Umar | October 12, 2021
Member Exclusive

Buy now, regret later? The tricky relationship between BNPL and credit ratings

  • As BNPL use has surged through the pandemic, consumers’ credit scores have taken a significant hit.
  • Research shows more than a third of BNPL users have fallen behind on their payments and hurt their credit score.
Ismail Umar | October 05, 2021
Member Exclusive

The strange connection between horoscopes and financial advice

  • A person’s horoscope may not determine their future wealth, but a propensity to read their horoscopes might.
  • A survey by N26 found that quite a few US adults count on their horoscopes for financial guidance here and there.
Rivka Abramson | September 28, 2021
Member Exclusive

‘There’s a two-sided integration going on between fiat and crypto’: How banks are gearing up to move into digital currencies

  • Many banks are starting to incorporate digital assets into their services.
  • Further adoption will depend on how federal agencies perceive and regulate the large-scale use of cryptocurrencies.
Ismail Umar | September 24, 2021
More Articles