Verifying an individual’s status as an enrolled student, recent graduate or degree holder is critical to conducting business in a variety of instances. For industries, such as auto or insurance, that offer products, services and/or incentives based on that status, verifying an individual’s education is crucial to determining program eligibility. For others, such as credit card issuers and lenders, verifying education can be the determining factor in whether or not a thin-file consumer is granted credit.
Many recent graduates have not yet established solid credit history, although their earnings and purchasing power is on the verge of exponential growth. Decisioning on credit alone may lead to missed opportunities within this market segment that could otherwise be captured by simply verifying the individual’s graduate and employment status.