CareerConcept has developed a very extensive and complex application and selection process. Alongside the development of academic performance are also and above all, personality-aspects such as resilience, determination and communication skills. Finally, only those students can be funded who have the greatest probability of completing their studies successfully and so that this can be transformed into gainful employment. CareerConcept has developed a proprietary scoring method which allows consideration of quantitative aspects in qualitative scoring values.
In cooperation with the geva Institute, CareerConcept has developed a procedure for the personality-oriented section which measures the potential of the individual candidates. The geva Institute is a prestigious address in the field of psychological consultancy: experts in the field of potential-aptitude testing use sophisticated methods to ensure the validity and reliability of the results of this part of the application and selection process.
Although rare, there are isolated situations where legitimate demands for education fund repayment from certain students are more difficult to recover. In this case CareerConcept cooperates with Intrum Justitia, the worldwide leader in collections management. Intrum Justitia is the leading provider of credit management services in Europe, founded in 1923 in Sweden. Intrum Justitia today employs approximately 3,300 people in 24 markets and manages its customers with an outstanding balance of receivables of around 11 billion euros. Through cooperation with Intrum Justitia, claims against students worldwide can be enforced abroad. CareerConcept uses this service rigorously when required. Currently the rate of problematic debts, however, is considerably less than 1% of total financing portfolio.
The application and selection process of CareerConcept is now so developed that it (at least for the successful applications) can no longer be offered for free: beginning end of 2009, a flat rate of 29.90 Euros to conduct the necessary assessment centre will be charged . CareerConcept works with Payone for processing all billing. Payone is one of the leading payment service providers in the areas of e-payment, credit card acceptance and accounts receivable management, which is characterized by extremely secure payment technology.
The application and selection process is organised almost continuously online. To this end, CareerConcept relies on the platform HReCRUITING dna Hamburg Ins, which was especially adapted to the needs of the Education Fund application process. This system is used by Volkswagen and the German Bundesbank among others. It has enjoyed stable operation with CareerConcept AG without interruption since 2007.
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