Hi Everyone, Thanks for your comments! We have been a bit slow getting going with the Refinement phase, but hope to post some updates from user interviews this week!
Karen, currently the funding for our students has come from a crowdfunding campaign, which was based on donations rather than investments (the money from student repayments will be recirculated). We are now targeting accredited investors and impact investment funds. I'm not sure what you mean exactly by 1st generation students in our context. We have not established an insurance policy in the case of death or disability, but the contract would be null and void rather than transferring to a family member (so our company takes on this small risk).
Alex, one of the main factors we consider in our research is the ROI of a university degree (which factors in both the cost of the degree and the impact on future earnings). In the USA, the ROI of a degree is actually lower than in many developing countries because the tuition costs are so high. So, a solution such as ours may need to be paired with models that find ways to control or lower tuition costs.