PayForED has its own proprietary college database that is updated multiple times throughout the year. As part of our company mission, we strive to provide the best college cost data on a timely basis.
Our College Cost Analyzer and In-College Payer systems were updated on August 24th and the new tuition cost for the 2020-21 school year is now available to our users. Our typical timeframe to update our data is August 1st but due to COVID 19, many colleges did not have their information available by that date. This year was challenging in that many schools were working remotely this summer and communication was difficult. We are still currently waiting for a small number of colleges to make their information available and we continue to update the data as the information is received.
PayForED is approximately 2-4 months ahead of most other college cost systems. Having our college data available this early allows families to make informed college application decisions. Most other college cost data systems are not available until October which is after the early wave of college applications are submitted.
We believe the most current data improves the decision-making process and reduces the stress of the application process for our users. Parents and students can build a better college list. With our enrollment matrix, customized budget function, four-year financial aid, and cash flow projections, families can discover the transparency that is missing from the college funding process. This saves them time and money.
During the year, we continually update our college data and analytics, so that when the financial award letters arrive, our college comparisons are as accurate as possible.