Background

Megan had always wanted to earn her Master’s degree in Data Science, knowing it would open doors to higher-paying jobs and career advancement. After researching programs, she was accepted into a top-tier university with a strong track record of job placements.

The total cost for tuition, books, and living expenses for the two-year program was $80,000. While Megan had secured a $40,000 scholarship, she still needed $40,000 to cover the remaining expenses.

Student loans were available, but with high interest rates and long-term debt commitments, Megan was hesitant. She wanted an option that allowed for flexibility in repayment while keeping her financial future secure.

Her longtime friend, Alex, who had built a successful career in tech, saw the potential in Megan’s decision and wanted to help. Instead of her taking on decades of student loan debt, Alex offered to lend her the money in a structured way that was fair and beneficial for both of them.

Loan Request & Agreement

Using Pari, Megan submitted a $40,000 loan request to Alex with a 7-year repayment plan at 3.5% interest, making it significantly more affordable than traditional student loans.

Alex reviewed the request and adjusted the terms to be student-friendly:

• A 2-year grace period, so Megan wouldn’t have to start repaying until after graduation.

• A career-based repayment structure, where payments would gradually increase as she earned more.

• No penalties for early repayment.

Once they finalized the agreement, they digitally signed the loan contract, and Megan received the funds instantly, allowing her to fully focus on her education without financial stress.

Repayment & Outcome

Megan completed her Master’s program and landed a high-paying job as a Data Analyst within four months of graduation. Thanks to the grace period, she was able to adjust to her new career before making her first payment.

Once she started earning, she set up automatic monthly payments through Pari, ensuring timely repayments without awkward money conversations with Alex.

After two years in her new role, Megan received a promotion and salary increase, allowing her to make larger payments toward the loan. By year five—two years ahead of schedule—she had fully repaid Alex.

As a thank-you, she treated Alex to an all-expenses-paid weekend getaway, celebrating the impact of his support on her career growth.

Key Takeaways for Users

✅ Higher Education Without Student Loan Debt: Megan funded her degree without being locked into high-interest student loans.
✅ Flexible Repayment Plan for Students: Alex structured a 2-year grace period and gradual repayment schedule.
✅ Automated Tracking & Transparency: The app handled payments, removing financial stress between friends.
✅ Early Payoff Flexibility: Megan repaid the loan two years early, saving thousands in interest.

Final Thoughts

Megan and Alex’s story shows how structured personal loans can provide educational opportunities while maintaining fairness and trust. Thanks to Pari, they were able to set up a clear, secure, and stress-free loan agreement that worked for both of them.

Planning to further your education but need funding? Or want to support a friend’s academic journey? Our platform makes lending and borrowing between family and friends secure, simple, and fair.

Download the app — Get started today!