Debt and Payment Management with Kydemy

How to manage your school’s debts

One of the biggest daily concerns for any school or studio is tracking students' debts and payments. When you run a small school with only a few students, managing this can be relatively simple. But once your school has multiple classes, time slots, and dozens of students, things can get complicated 🥵

In another article, we discussed how to deal with students who don’t pay or are late with payments, offering tips and advice to handle this situation.

In recent years, many schools have started using tools that help them manage their finances, including debts and pending payments. There are many solutions available on the market—apps, software, payment planners, etc.—so you’ll need to evaluate which tool best suits the type of business or school you run.

For artistic schools and studios (such as dance, music, art, languages, etc.), Kydemy is the ideal solution, as it is specifically designed with these types of businesses in mind.

With Kydemy’s management software, you’ll never lose track of who has outstanding payments. Our platform allows you to manage the most critical aspects of your school from a single place, giving you a complete overview of your business and helping you identify opportunities and areas for improvement.

With just a few clicks, you can access detailed financial information about your school, such as:

• Reviewing the payment status of students' accounts 📉
• Sending automated payment reminders 📩
• Keeping a clear record of received payments 📄💰

Online Payments: a strategy to avoid debt

One key strategy to reduce or eliminate student debt is to offer a payment method that’s convenient, simple, fast, and secure.

In the fast-paced world we live in, the chances of a student or parent physically coming to school to pay debts are becoming less and less likely. So, how do we fix this?

Online payments are a game-changer for modern businesses. In fact, we’ve discussed this in other articles such as How to integrate online payment systems in schools and The importance of secure online payments for schools, where the data backs up this claim. For example, according to Statista, most mobile payments in Spain are made through web browsers or apps, while the use of physical cash continues to decline.

That’s why, if you haven’t jumped into the world of online payments yet—now’s the time!

With Kydemy, you can receive online payments from your students directly through the platform. It uses trusted providers like Stripe and PayPal to process payments securely, with no extra fees. With just one click, both the student and the school can complete a payment—whether it’s tuition, enrollment, or registration—quickly, securely, and instantly.

In addition to reducing or eliminating debt, online payments offer multiple other benefits. Check out this article on the advantages of offering online payments.

Conclusion

Managing and controlling debt is a major headache for any business owner. For schools and academies, avoiding outstanding student payments can be especially challenging. Implementing tech tools to help you manage and control these debts can bring huge benefits to your school. Adding options like online payments will also help prevent debts altogether. Kydemy is the ideal solution for schools—with its all-in-one tool, you’ll be able to manage your finances efficiently. With Kydemy, managing your debts and payments has never been easier! 😉

If you’d like to learn more about Kydemy, visit our website. And hey—if you want to see how the platform works, you can book a 100% free, no-commitment demo!