Leverage the efficiency of ACH combined with the power of software...
529 dollars are still disbursed primarily through inefficient physical checks, and families are forced to use expensive card networks as work arounds. Backpack has built for-purpose software to leverage the cost efficiencies and security of ACH and provide an integrated payments experience from 529 Plan to Student Family to Education Institution.
POWERFUL PAYMENTS SOFTWARE
AUTOMATED
ACCOUNTING
RECONCILIATION
DEDICATED SUPPORT &
TOOLING
...to improve outcomes
for student families
A lack of central payment infrastructure and software has left student families to fend for themselves when it comes to using 529 payments for Qualified Education Expenses. Slow physical check processing times lead to delayed enrollments and billions in late fees. This too often results in families using credit cards as a bridge, incurring billions in card fees every year that could have been spent on education. Worse yet, too many times this leads to the worst case outcome; student dropouts. We believe we can do better.
POWERFUL PAYMENTS SOFTWARE
FASTER
TIME TO ENROLLMENT
REDUCED
CARD AND
LATE FEES
DEDICATED SUPPORT
TOOLING
FEWER
HIGHER ED DROPOUTS
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