ReliaMax, a fintech-based and complete private student lending solutions provider, announced the launch of borrower acquisition channel partnerships as part of its Connext Private Student Loans by ReliaMax platform. The inaugural partners include LendingTree, SimpleTuition, Upstart and Student Loan Hero. Borrowers may now access ReliaMax’s Connext Private Student Loan solution through these channel partners to finance the education gap remaining after federal student loans and scholarships with funding from participating banks and alternative lenders.
“We are excited to play an active role in helping students make smart financial decisions on how to fund their education by giving them choices and directly connecting them with participating banks,” stated ReliaMax CEO and Chairman Michael VanErdewyk. “Today’s generation of students preparing for college need a private student loan solution they can trust and banks need a new digital way to reach and engage this market. These partnerships help to meet the needs of both students and lenders.”
The Connext platform reportedly continues to gain momentum with millennial and Gen Z students looking for in-school undergraduate and graduate and refinance private student loans. Since these two generations are the primary source of every bank’s growth and profitability over the next 50 years, direct access to these individuals is crucial. The Connext platform and borrower acquisition channel partners enable participating banks to focus on investing in private student loans and retaining borrowers instead of investing to build out their own private student lending technology and services. Equally, borrowers are given more options through borrower acquisition channel partners to select the financial providers that can best meet their individual needs.
Founded in 2006, ReliaMax Inc. is the parent company of two subsidiaries, ReliaMax Surety Company and Private Student Loan Platform-as-a-Service solutions provider ReliaMax Lending Services. Hosting a proprietary database of over $14.5 billion in private student loans and one million borrowers, ReliaMax offers banks, credit unions, alternative lenders and investors up to 100 percent loan loss protection with stable returns and has helped over 450 lenders profitably deliver private student loans to their borrower clients. ReliaMax Surety Company (not available in California) has insured over $2.6 billion in private student loans since 2009, helping over 100,000 borrowers finance their education and achieve their dreams.