Industry News

30
Mar
Splash Financial Expands Student Loan Refinancing Offers with PenFed Partnership

Splash Financial's partnership with PenFed Credit Union should allow Splash to offer more competitive interest rates for student borrowers.Splash Financial, Inc. and PenFed Credit Union recently announced they will partner and fund up to $350 million annually for student loan refinancing.For Splash Financial, this partnership will enable it to expand beyond its medical fel

Posted in: Industry News, Student Loan News,
22
Mar
CommonBond Raises $50 Million for Technology Investment

CommonBond recently announced that they raised $50 million in investments to pursue technological advancements. Financial technology company CommonBond has raised $50 million and plans to use this funding to advance its growth and pursue additional investments in technology, such as blockchain to heighten the security of its clients’ information. CommonBond is an on

Posted in: Industry News, Student Loan News,
10
Mar
Good News for Student Loan Borrowers: It’s Easier to Get a Mortgage

Mortgage lenders are easing up their lending requirements, which should make it easier for student loan borrowers to qualify.Would-be homebuyers who are worried they won’t qualify for a home loan now might have fewer reasons to stress out. While the housing market crash a few years ago led to stricter screening of potential homebuyers, it […]

Posted in: Industry News, Student Loan News,
28
Feb
CommonBond CEO David Klein Provides Insight on Student Loan Industry

CommonBond CEO David Klein (center) pictured above working with two colleagues.Earlier in the year, the CEO of CommonBond, David Klein, a large fintech company specializing in higher education financing, agreed to sit down with me and talk student loans over the phone. Klein has been a prominent leader in the student loan industry for the […]

Posted in: Industry News, Student Loan News,
27
Feb
PNC Bank Announces a New Student Debt Refinance Loan

PNC Bank recently announced that it is launching a new credit-based refinance loan for student borrowers. In late February, PNC Bank announced it is launching a new refinance loan. The PNC Education Refinance Loan is a credit-based loan that lets borrowers handle their student loan debt with new repayment terms.There is no application fee to get […]

Posted in: Industry News, Student Loan News,
15
Feb
Nelnet Fully Acquires Great Lakes Educational Services, Combining Student Loan Portfolios

Huge student loan servicer Nelnet announced earlier this month that it finalized the Great Lakes Educational Loan Services, Inc. acquisition in a $150 million transaction. The $150 million that Nelnet paid netted 100 percent of the stock for Great Lakes. The acquisition was initially announced in October of 2017.What Is Great Lakes?Great Lakes is a […]

Posted in: Industry News, Student Loan News,
18
Jan
SoFi’s Professional Loan Program at $720 Million for First Offering

SoFi's first professional loan program of the year reached $720.1 million.Social Finance’s Professional Loan Program 2018-A has reached $720.1 million, which is just a bit lower than the final deal it had in 2017. SoFi’s first program of the year features bonds secured by loans that refinance student debt of those who have large incomes […]

Posted in: Industry News, Student Loan News,
12
Dec
Credible Raised $50 Million in IPO on Australian Securities Exchange

The San Francisco-based startup Credible raised $50 million (A$66 million) in an initial public offering on the Australian Securities Exchange (ASX). This is a relatively small listing by U.S. standards, but according to data from Bloomberg, it’s the largest technology IPO on the ASX this year. So, it’s big news for Australia.The IPO valued Credible […]

Posted in: Industry News, Student Loan News,
10
Dec
Navient Subjected to Yet Another Lawsuit

The United States largest student loan servicer, Navient, is faced with another lawsuit. This time, shareholders have filed a lawsuit against the Wilmington-based student loan provider. During the past year, shareholders allege the company withheld information concerning subprime student loans.Shareholders are angered over the loss of value. Navient had “recklessly” wi

Posted in: Industry News, Student Loan News,
01
Dec
Watchdog CFPB Targets CitiBank with Fine Involving Student Loans

The Consumer Financial Protection Bureau (CFPB) ordered Citibank to pay up to $3.75 million to student loan borrowers who were allegedly affected by misleading servicing. The CFPB also levied a $2.75 million fine, totaling $6.5 million in fines.The CFPB levied theses fines on the basis of two claims. First, it believes Citi misinformed its student […]

Posted in: Industry News, Student Loan News,