Web-based payment/lending platform offers 0% interest loans to college students

Posted by smysore on Sunday January 25, 2009 @12:59AM
from the unithrive.org dept.

http://www.unithrive.org/

peer-to-peer lending and microfinance are talked about a lot these days and lots of companies that have built lending platforms on the web have become super successful...here's one that facilitates alumni to student loans at 0% interest..

( 2 comments | 3 points | on HN )

Re:Web-based payment/lending platform offers 0% interest loa... by tom6a on Sunday January 25, 2009 @09:17AM (#449122)

There is great potential here but how are they going to get around the regulatory challenges.

A similar site (which charged interest) recently shut down - http://prosperlending.blogspot.com/2009/01/fynanz-halts-p2p-...

[ Parent | on HN ]

Re:Web-based payment/lending platform offers 0% interest loa... by smysore on Sunday January 25, 2009 @01:46PM (#449365)

that and itll be hard to justify the interest lost on a loan to a college student...someone that loans $100k to a student and doesn't get paid back for 8 years is losing all the interest s/he would have earned if they had kept that money in a CD or some other low interest earning instrument...thats almost $40k? it would have to be set up so that students can take small aggregate loans that are then "bundled" and paid back...it wont be easy but they have a good idea

[ Parent | on HN ]