In the modern world of higher education, financial stability is crucial for institutions and students. Balancing the importance of retaining students, ensuring smooth administrative processes, and managing cash flow can be overwhelming. Colleges often face the tough challenge of collecting overdue payments while maintaining positive relationships with students. This is where Kinum, Inc. steps in as a reliable solution, providing a fresh approach to collections designed with your college’s unique needs in mind.
Why Choose Kinum as Your Collection Agency?
Colleges and universities are responsible for providing a top-tier education and handling financial obligations efficiently. Managing student debt while ensuring retention and re-admission rates remain high is a significant challenge. Kinum, Inc. offers a comprehensive solution that does more than just chase overdue payments—it ensures that your students are supported and that your college’s financial health remains secure.
Kinum specializes in offering flat-fee collection services to help you retain your students and reduce dropout rates, while also boosting cash flow. With collections managed in all 50 states and Puerto Rico, we ensure that your institution can focus on what matters most—educating and supporting students—while we handle the complex task of collections.
The Impact of Depreciation on Delinquent Accounts
One of the most pressing issues for colleges is the rapid depreciation of overdue student accounts. As seen in the graph titled “The Impact of Depreciation,” delinquent accounts lose their value over time. After just 30 days, the chances of collecting the full amount owed drop by 30%, and by the time a year has passed, only 10% of the debt remains collectible.
This depreciation highlights the need for a swift, effective collection strategy. The longer an account is left uncollected, the harder it becomes to recover those funds. This is why having a partner like Kinum, Inc. is so essential. Our robust strategies and efficient processes ensure that debts are collected promptly, minimizing the impact of depreciation on your college’s financial standing.
What Kinum Does for Your College
Kinum, Inc. offers a wide range of services designed to meet the specific needs of higher education institutions. Our goal is not only to collect overdue accounts but also to increase student retention and re-admissions, as well as reduce overall dropout rates. Here’s a look at some of the key services we provide:
- Flat Fee Collection Services
Kinum’s transparent and straightforward pricing ensures that you don’t face unexpected costs. Our flat-fee services allow you to plan your budget effectively, knowing exactly how much the collections process will cost without any hidden fees or extra charges.
- Increase Student Retention Rates
A core focus at Kinum is helping colleges keep their students. By taking a gentle and respectful approach to collections, we ensure that students feel supported rather than pressured. This, in turn, helps reduce dropout rates and encourages students to continue their education without the stress of unresolved financial issues.
- Increase Cash Flow
Managing accounts receivables in a timely manner ensures that your institution has the cash flow necessary to function smoothly. Kinum’s efficient collection services help maintain a steady flow of incoming payments, reducing the strain on your school’s finances.
- Robust Skip Tracing Tool
Students sometimes move or change contact information, making it difficult to follow up on delinquent accounts. Kinum’s advanced skip tracing tool allows us to locate students who may have fallen off the grid, ensuring that no account goes unaddressed.
- Bankruptcy Evaluation
When students file for bankruptcy, understanding the process and what options are available can be complex. Kinum provides thorough bankruptcy evaluations to help you navigate this often complicated terrain.
- Diplomatic Approach
We understand that the college-student relationship is a sensitive one. That’s why Kinum uses a diplomatic approach to collections, ensuring that all communications are respectful, gentle, and aimed at preserving positive student relationships. Our focus is on recovery without damaging the trust between your institution and your students.
- Exclusive Online Client Portal
Transparency and ease of use are key to a successful partnership. Kinum provides an exclusive online client portal where you can track accounts, see real-time updates, and communicate with our team directly. This gives you full control and oversight of the collection process.
- Spanish Speaking Collections Division
For colleges with a diverse student body, language barriers can sometimes complicate communication. Kinum offers a Spanish-speaking collections division to ensure that language is never an obstacle when working with your students.
- Comply with the 90/10 Rule for For-Profit Schools
For-profit institutions must comply with the 90/10 rule, which requires that at least 10% of their revenue come from non-federal sources. Kinum’s services help your school meet these requirements while maintaining a positive relationship with students.
A Comprehensive, Student-Focused Approach
At Kinum, Inc., we don’t just recover debts—we help colleges thrive by protecting their financial health and student relationships. Our approach is designed to relieve the pressure on your office staff, minimize in-house collection costs, and give your institution the tools it needs to focus on student success.
With Kinum’s efficient, diplomatic, and technology-driven solutions, you can ensure that collections are handled quickly and professionally, without straining your relationship with students. From increasing cash flow to reducing dropout rates, Kinum is here to support the long-term success of your college.
Ready to see how Kinum can help your institution? Contact us today and let’s work together to build a brighter future for your students and your school!
