LendEDU
 | |
| Founded | 2014 |
|---|---|
| Founders | Nate Matherson & Matt Lenhard |
| Headquarters | Mountain View, California, U.S.A. |
| Website |
lendedu |
LendEDU is an online marketplace for student loan refinancing. It has been compared to Lendingtree.com but for student lending[1] and featured in publications such as TechCrunch, Huffington Post, The Washington Post and Business Insider.
History
LendEDU was founded by Nate Matherson and Matt Lenhard while students at the University of Delaware.[2] The company is a spin off of a Shop Tutors, a software company designed to help tutors. During the company's time at the Iowa Startup Accelerator and Built By Iowa, Matherson was looking to refinance $50,000 of his student loans but found the process difficult.[2] The idea became LendEDU, a website with tools to help people refinance student loans. LendEDU officially launched in 2014.[2]
LendEDU was accepted as part of Y Combinator accelerator program in 2016.[3] The site surpassed 70,000 unique visitors by February that same year.[2] LendEDU is also known for its financial assistance program for employees, offering to pay up to $200 per month towards their student loan debts.[4][5]
Platform
LendEDU matches lenders to applicants looking to refinance their student loans. It provides borrow rates from multiple lenders utilizing a single application.[1] LendEDU uses what is referred to as a "soft" credit inquiry which does not hurt an applicant's credit rating.[2][6] Its website has guides, reviews, and financial literacy resources for borrowers[7] and also provides a financial aid hotline available via text.[8]
References
- 1 2 Speiser, Matthew (16 December 2014). "Don't call it a pivot: UD undergrads ax SHopTutors, launch Lendedu". Technical.ly Delaware. Retrieved 23 May 2016.
- 1 2 3 4 5 Shieber, Jonathan (9 February 2016). "LendEDU Is Making Student Loan Refinancing Easier". TechCrunch. Retrieved 23 May 2016.
- ↑ Constine, Josh (22 March 2016). "All 60 startups that launched at Y Combinator Winter 2016 Demo Day 1". TechCrunch. Retrieved 23 May 2016.
- ↑ Mai, Jessica (23 March 2016). "7 companies that help employees pay off student loan debt". Business Insider. Retrieved 23 May 2016.
- ↑ McGregor, Jena (15 March 2016). "The popular new perk companeis are using to attract millennials". The Washington Post. Retrieved 23 May 2016.
- ↑ Hckstall, Victoria (4 May 2016). "5 CEOs That Entrepreneurs Can Learn Valuable Lessons From". Tech Cocktail. Retrieved 23 May 2016.
- ↑ Balkin, Jeremy (18 June 2015). "Why Student Loan Refinance Is a Force for Good". Huffington Post. Retrieved 23 May 2016.
- ↑ Wong, Kristin (21 April 2016). "LendEDU's Financial Aid Hotline Answers Your Student Loan Questions Via Text". Lifehacker. Retrieved 23 May 2016.
