08/2023
Allowing Parents to Apply for Student Loans
How We Expanded the Option for Parents to Apply for Student Loans and Boosted the Number of Applications by 37%.
Discover the process, tools, and challenges we encountered as we prioritized the user experience for both students and parents
Problem
How can the Bukas WebApp assist parents and guardians in applying for loans on behalf of their children?
Solution
We revamped the app's registration and application flow, focused on including parents or guardians applying for an installment plan on behalf of their children.
Impact
The design reduced the incidence of users sharing accounts with their children while simultaneously boosting the number of applications submitted by parents and guardians.
Platform
WebApp
Tools
Figma, FigJam, Google Meets, CrazyEgg Surveys, Metabase, Maze
Skills
User Interviews, Surveys, Data Analysis, Brainstorming, Prototyping
In 2019, ErudiFi launched Bukas, offering tuition installment plans (student loans) in the Philippines. By 2023, Bukas has emerged as the leading student loan provider in the country, partnering with over 100 educational institutions, disbursing millions worth of tuition fees, and assisting thousands of students and families.
Bukas, a financial assistance platform dedicated to students seeking help with their tuition, has been designed with students in mind. As users, students can create a Bukas account, complete an identity verification process, and submit an application for an installment plan.
However, recognizing the role that parents play in Filipino families and their contribution to their children's education, Bukas is committed to meeting the needs of these parents by extending its services to them. The most crucial aspect that requires attention is revamping the registration to application flow. It is vital to consider the distinct personas of both students and guardians/parents during this process. By prioritizing the needs of these two user groups, we can enhance the overall user experience and streamline the application process.
The Challenge
Enabling both students and parents to apply for student loans.
We have three high-level problems that we need to solve:
1. How can we assure clearness for parents and guardians, making it evident that they can also create their accounts and apply for installment plans on behalf of their children?
2. How can we re-organize the application form to ensure it is easy and understandable for students and parents?
3. How can we reduce the number of parents who share accounts with students to facilitate the application and submission process?
How might we improve the Bukas app for smooth student and parent registration, ensuring a user-centric experience and supporting parent applicants?
My Role
Beginning in February 2023, I spearheaded a collaborative effort with a diverse team of professionals to drive impactful changes.
Insights & Ideation
Working closely with two product managers (Inna and Nena), a customer support associate (Isabel), and two designers (shoutout to my best teammates: Eulo and Vanessa), we delved into extensive understanding and discussions to uncover valuable insights and generate ideas. We then translated these insights into potential features based on the identified problems.
Planning & Scope Definition
Working with the product managers, I played a significant role in defining priorities and negotiating features for the launch and subsequent releases.
Research and Data
Together with one of the designers and the product team, we conducted extensive user interviews, usability testing, and surveys to gain a deeper understanding of the problems faced by our users. This valuable research data served as a foundation for shaping the solutions we proposed.
Design Execution & Validation
Focusing primarily on the mobile web app, the team and I executed processes such as user journey mapping, wireframes, prototypes, and design specifications. By engaging in usability testing and collaborative sessions with engineers, we validated the effectiveness and feasibility of the proposed design.
Leadership
I presented the solution to department heads and senior stakeholders to gain buy-ins and approvals.
Early Insights
The current application process
Bukas designed the registration and application process primarily targeting students. This decision stems from a strategic business approach, as our partner institutions directly market our services to their students. Also, one of Bukas' main goals is to encourage financial responsibility and literacy among students. This student-focused approach has proven effective throughout our years of operation. Many students have gained a deeper understanding of student loans and financial awareness through their interactions with Bukas. Moreover, Bukas sets itself apart as the only financial institution in the Philippines that underwrites loans specifically for students, a departure from the practices of traditional banks.
As Bukas expands to more schools and gains insights into app usage, we have discovered that our app is not limited to students but also parents and guardians. According to Dr. Alampay (2014), an esteemed Professor of Psychology at the Ateneo de Manila University, supporting their children's education is a prevalent responsibility among Filipino parents, deeply ingrained in the country's history and culture. This strong commitment from parents presents a promising opportunity for more families to avail of Bukas' tuition installment plans or loans. This cultural context emphasizes the importance of catering to the needs of parents or guardians who play an active role in their children's education.
The Voice Of Our Users
We frequently reached out to our Customer Success colleagues to gather feedback from our users:
Users are confused about who's allowed to register and submit an application.
We've encountered frequent inquiries from parents regarding their eligibility to apply for an installment plan on behalf of their children.
There are circumstances where parents sign up with their mobile numbers but use their child's information. It has posed data management challenges on our end.
Furthermore, we've encountered cases where parents have an account under the student's name and have requested a change of ownership to the student.
Deep Dive Into Data
The team and I ran a survey in February of 2023 through the Bukas homepage and app to learn about the population of parents or guardians in the customer base of Bukas.
Our homepage survey data shows that out of 1470 responses:
• 48% of the homepage visitors are parents or guardians of students.
• 84% of them express intent to apply for installment plans on behalf of their children.
Based on survey data from 1,385 responses on the app, we identified that:
• 34% of logged-in users are parents or guardians of students.
• 84% of these parents or guardians share their Bukas account with the students.
According to the same survey, the main reasons for creating a Bukas account are as follows:
• 38% to apply for a loan on behalf of the student
• 24% to check out the features of the app
• 26% for tracking the loan status/loan application
• 14% to repay the existing loan
Framing the Problem
We recognize the importance of evolving the app to meet the needs of both students and their parents or guardians. It will allow us to adapt to changing user demographics and usage patterns. By embracing this expansion and understanding our diverse user base, Bukas can better meet the needs of all our users and continue promoting financial literacy and responsibility among students and their support systems.
How We Built It
Exploring Ideas
Once everyone had aligned their understanding of the problem, I discussed with two other designers to generate ideas and prioritize improvements for the application form.
We needed to gain a more profound understanding of the personas of both parents and students. An extensive familiarity with these personas enabled us to design and develop experiences that resonate with our users. When we create experiences that align with their needs, they engage with it and recommend it to others.
User flow mapping and sketching out ideas
For startups, the sooner we initiate collaboration, the more streamlined our processes become. I begin with the user flow and rough mockups. These initial flows and designs are then shared with other designers to gather feedback and are also effective deliverables for sharing our solution with individuals outside the product team.
Narrowing down the ideas and testing
It's common for designers to generate ideas without knowing which one is the most suitable. Having a lot of ideas is often seen as a positive aspect of the creative process.
The real challenge emerges when it's time to narrow down these ideas and identify the most effective one. Of course, at this point, no one knows which is the most effective one.
To address this challenge, I adopted a systematic approach.
Initially, I focused on brainstorming and generating as many ideas as possible. This phase is crucial because it encourages creativity and ensures we consider different possibilities.
However, it's important to note that not all ideas are equal, and some might be more promising than others. After the discussion, the next step was to sift through these ideas and select the most feasible ones.
To do this effectively, I involved the entire design team. This collaborative approach allowed us to evaluate the solutions from different perspectives and consider their implications for user flows and overall user experience.
By combining the ideation process and thoughtful evaluation, designers can identify the most effective and user-friendly ideas.
After identifying the most feasible idea from our pool, we created a prototype for our usability testing. We put up a survey on our homepage, inviting parents or guardians to express their interest in participating in our research. We extended invitations for them to visit our office in Makati City. With the valuable insights gathered from the testing process, I have gained greater confidence in the proposed solution and have successfully garnered alignment within the team. As a result, I feel more assured about dedicating additional time to delve into the finer details and further refine our project.
Our Solution
Introducing the new application flow for students and parents
Updated Onboarding Screens
We've overhauled our onboarding screens that appear before registration and login.
The primary goal of this overhaul is to provide a clear communication about our services, catering to the unique needs of both parents and students.
This updated onboarding experience will set a positive tone for their journey with us, fostering clarity, trust and satisfaction from the very beginning.
First-time User Experience
We've introduced a series of screens to newly registered users, aiming to provide comprehensive guidance on the participants in our loan process and their respective roles and responsibilities.
By offering this valuable information upfront, we are helping our users to make informed decisions and engage confidently with our platform.
User Roles Before Applying
We have introduced a feature that allows users to specify their role as either the student or the parent when applying for an installment plan.
This feature brings greater clarity and specificity to the application procedure, ensuring correct information is collected from the beginning.
Copy Tweaks
We've fine-tuned the wording throughout our app to make it more inclusive and accessible to a broader audience, moving beyond just students.
These seemingly small copy updates can have a significant impact on the overall user experience.
The Launch
The first release: low usage but users are gradually becoming more familiar with it
After three (3) months of design and development, we initially launched it in the Philippines in May 2023. A few weeks later, we collected data and received some qualitative feedback from users:
• Application cancellations are primarily due to users selecting the wrong role at the start of the application (they usually change their mind). Editing is not easily accessible.
• Existing users are still unaware of the changes we made to the flow and user experience.
Currently, we are aware that the new solution offers an improved experience catering to both students and parents. However, the primary questions that remain are why usage is significantly low and how we can prevent loan cancellations.
I collaborated with the Product and Design team to discuss the possible iterations we can implement.
Next Iterations
We aimed to reduce the volume of cancellations and inquiries from users seeking guidance on changing their user role, while also ensuring that existing users could easily see and understand the enhancements we've implemented in the flow and user experience.
Making editing more accessible
This enhancement was designed to accommodate users who might have a change of mind or need to correct their initial selection while navigating the application journey.
Retrigger the onboarding
This feature allows users who are already familiar with our platform to revisit the onboarding screens and explore the latest updates in the user flow.
It aims to keep our users well-informed, engaged, and satisfied by allowing them to rediscover the platform's latest offerings, ultimately enhancing their experience.
The Impact
Positive results and much more to do
Launching marks just the beginning.
At Bukas, we continuously refine our product through data analysis and post-launch research. Several iterations, informed by data and user feedback, have resulted in significant positive impacts.
• 4.5/5 application satisfaction rating
• +55% rate of registrations (vs. last year)
• +37% rate of submitted applications (vs. previous month before launch)
• 15.5% ratio of guardians/parents accounts to students
Credits to my small but amazing ErudiFi Product Design Team (2023) - Vanessa Williams and Eulo Soriano, in collaboration with our favorite product team members - Inna Abadilla and Nena Salsabila.