On Frank’s student-driven financial wellness platform – Tearsheet
In 2020, student loan debt reached a record high of $ 1.57 trillion – an increase of 12% compared to 2019. By comparison, between 2015 and 2019, loan debt rose by an average of just under 6%.
New York-based fintech Frank is a four-year-old financial wellness platform designed for college students. The platform streamlines the financial process around college and university.
According to Charlie Javice, CEO and founder of the company, when Frank was founded, the market was filled with many graduate solutions, but not for the pre- and during-phase.
“The market was very much focused on financial wellness and financial products for college graduates, but there really wasn’t much for people who were just entering school,” said Javice. “But it was at this time that people were making the most important financial decisions that could affect the next 50 years of their lives.”
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