App delivers financial advice for students via Snapchat

NextGenVest is a money advice app which sends reminders to young adults and students for filling out financial forms via SMS and Snapchat.

Many students in the US struggle with financing their college tuition, yet around USD 2.9 billion of financial aid that should be available to poorer students goes unclaimed. This has been partly attributed to the complicated nature of the process and the lack of advice on offer to students at school.

That’s where NextGenVest comes in. The startup provides students with advice on the financial aid application process, updating them with deadlines for sending off forms using text messages and Snapchat.

The SMS service is free and advises students through online education and articles, as well as student-led workshops. The app sends customized reminders for each student and offers financial advice through its text service, helping students fill in their complicated forms. In the video, NextGenVest Founder and CEO Kelly Peeler talks at TedX on money and millennials.

We have already seen a SMS service that reminds students of important events. How else can businesses use instant messaging services to make important matters easier for students?