I first met Nick when he was working at Northeastern University. He was serving as the Vice President of New Ventures, where he helped to create a “bootcamp” within the University, which came to be recognized as an exemplar of innovation by the U.S. Department of Education, among others.
It was as evident then, as it is now, how passionate Nick was about connecting college experiences to the realities of life after college. We shared an abiding belief in the transformative potential of higher education, but we also knew that the decisions that students – and institutions – made were, all too often informed by gut more than by data. We knew that cost concerns often suppressed college-going aspiration. We knew that institutions often struggled to convey their true value to parents and families.
In the years since, Nick served as a sage and generous advisor to Vemo. As a friend, he has proven to be an encouraging and supportive voice, and a passionate advocate for student-centric policies.
At Vemo, our work has focused on working directly with colleges to help them use an understanding of outcomes to articulate their value in ways that attract the right students—and inform the design of their programs.
And so I was inspired – and encouraged – when Nick teamed up with Sabrina in 2017 to create a business that would bring transparency and an understanding of educational return on investment (ROI) to the masses by building tools to advise students and families on their college journey.
I am now excited to share that we will be working more closely together than ever before. Vemo is acquiring Edmit.
The partnership makes sense in many ways. At the core of Vemo’s mission is aligning the cost of higher education with the value it delivers. We work with colleges around the country to help them understand, analyze, and prioritize the return they generate on their students’ investment in a college degree.
And ROI is also central to what Edmit is aiming to accomplish. Edmit provides students with smart personal advice to help guide them toward the colleges that are the best fit for them. When applying to colleges, most students have startlingly little insight into one of the most important and impactful decisions of their lives. The wrong choice can send them down a path of disappointing career prospects and staggering amounts of college debt.
Founded to tackle that challenge, Edmit works directly with students and their families to make smarter college and career decisions, helping them maximize student aid, minimize debt, and find a great job after graduation. It’s all about identifying colleges that are the best investment for that particular student. But it’s also about pushing the boundaries of how we think about higher education finance. In the coming weeks, we’ll be announcing some unique new initiatives that seek to take on the traditional college lending system — and de-risk the investment in higher education for students and families.
For colleges, this partnership means we can better help boost enrollment, facilitate data-driven decision-making about tuition and student outcomes, and help them find students who are the right fit. For students and families, we’ll be able to offer more agency over pricing, greater visibility into return on investment, and a more personalized and supportive experience.
Importantly, our acquisition will have no impact on the content Edmit creates for students. Both Vemo and Edmit pride ourselves on transparency, and that’s certainly not going to change now that we are partners. What will change is our ability to help tackle some of higher education’s most pressing financial aid challenges.
There’s more to come from the Vemo and Edmit teams over the next few weeks. Until then, we look forward to continuing to push our partners to build a higher education system rooted in transparency, affordability, and a commitment to student outcomes—a system that reflects our shared vision for higher education as an engine of economic mobility and opportunity.