Program Design Principles
We build our programs with the following design principles as a foundation:
Eligibility is built around students’ upholding their educational obligations rather than a credit score or the presence of a cosigner. Underwriting and pricing is built around institutional outcomes—helping students to get into the institutions and programs with a track record of success.
As we work to help students we must also ensure they are not over-burdened. Working with program partners, BFF develops affordability standards to protect students.
Simplicity and transparency
Given that navigating financial aid is already an overwhelming process for most students, we strive not only to make the terms and design elements of our program accessible to students, but also to support students’ overall financial health with respect to paying for college.
Deep understanding of the student experience
Students with lower incomes have demands placed on them—such as supporting family members—that can make obtaining a college degree challenging. As we support students, we involve them in the process so they can shape these programs in a way that’s most conducive to their success.
Financial aid processes are generally designed to meet the needs of rules and regulations rather than the student. Instead, we design our programs to address unique impediments that students with low incomes face, such as prior balances and the need for emergency aid.
Unlike student loans, servicing shouldn’t be just about collecting payments. We strive to support students in their financial health and progression through their career.