We want our customers to understand the short and long term impact of the financial decisions they make. When transparency aligns with financial literacy, everyone wins,
Hoboken, NJ (PRWEB) October 20, 2016
The personal loan industry is growing rapidly in the United States. The recovering economy, increasing wages, and confidence has spiked consumer interest in personal loan products. To meet the demand for personal loans, a number of lenders have come into the market. As traditional banks were reluctant to offer personal loans, online lenders have made it easier for consumers to borrow money.
LendEDU created its personal loan comparison tool to create transparency in the growing market. At LendEDU, consumers can receive pricing information from a number of the leading personal loan lenders in one place. At the same time, consumers will be able to calculate the potential costs and savings of each option. While using the tool, consumers must give LendEDU permission to perform a soft credit inquiry, which won’t impact their credit score.
“We created this tool to help consumers save money through transparency. Whether you are trying to refinance high-interest credit card debt, or making home improvements, we want consumers to make confident decisions before signing on the dotted line,” said Nate Matherson, CEO/Co-Founder of LendEDU. Alongside the comparison tool, LendEDU has recently released a number of new guides, videos, and resources to help educate consumers on personal loan products. “We believe transparency comes in two parts. Part one, price transparency. Part two, financial literacy. We want our customers to understand the short and long term impact of the financial decisions they make. When transparency aligns with financial literacy, everyone wins,” said Matherson.
The comparison tools and all of the resources created by LendEDU are available for free to consumers. Consumers will be asked to create an account at LendEDU when using the comparison tool. Consumers will not be required to create an account when using only the financial literacy resources. LendEDU receives compensation from the personal loan companies presented on the LendEDU site. LendEDU is currently marketing SoFi, Earnest, and Upstart on its website. LendEDU is currently in the process of adding a number of other companies, as well. By the end of the year, LendEDU expects that it will be working with five to six different personal loan companies.
Since 2014 LendEDU has delivered free financial aid resources to high school and college students. LendEDU is a marketplace for student loans and student loan refinancing. LendEDU helps graduates find the lowest student loan quotes with one application. The company is partnered with all of the leading student loan companies including SoFi, Citizens Bank, Sallie Mae, College Ave, Earnest, LendKey, Darien Rowayton Bank, among others.
LendEDU was founded by Nate Matherson and Matt Lenhard in August of 2014. LendEDU is a graduate of Y Combinator’s W16 class, the Iowa Startup Accelerator, and the Horn Program at the University of Delaware.
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