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Connecting Young Customers with College Ave
Finance
August 2, 2024
College Ave
College Ave Student Loans is a specialized company dedicated solely to making the student loan process simpler and stress-free.
Problem
College Ave faced the challenge of low online engagement. Despite having valuable content, young people weren’t inclined to engage with or read it.
Solution
To address this, College Ave partnered with Breakthru to educate young people about the student loan process while building brand trust. Through Breakthru’s financial partners, students learned about scholarships, student loans, and financial literacy, all while being incentivized with cash rewards via Venmo, Uber, and Amazon. This interactive, rewarding approach turned learning into a more appealing experience for students.
Results
$4.40
$11.00
Average cost per application
120+
15 sec
Time spent per person
81%
13%
Of engaged students will consider this brand when looking for a loan
“We love that students were able to learn while earning! The student loan process can be time-consuming, so making this experience fun really boosted our youth engagement.”
Lexy Spikes, Partnerships Manager
Conclusion
By partnering with Breakthru, College Ave successfully transformed the way young people engage with important financial information. Not only did they lower their cost per application and significantly increase the time students spent with their content, but they also created lasting brand loyalty.
With 31% of students who engaged now considering a student loan with College Ave, the company has positioned itself as a trusted partner in their financial journey. This innovative approach to combining education with incentives has proven to be a powerful tool for connecting with and engaging young customers.