Online student loan lender Earnest has announced a brand new app to help students to get their student loans with ease.
The Fintech revealed a new slogan alongside the app; “student loans that students love.”
Susan Ehrlich unveiled the lenders app at Money2020 today which is taking place in Las Vegas.
After hundreds of interviews and thousands of hours of researc, Earnest created that app that is designed to allow students to apply with transparency and trust.
There are four major features of the new app.
- Rapid Eligibility Check – Allows students to see what they qualify for before making a commitment.
- 2- Player Design – Allows the students and the co-signers to keep track each other’s progress and both parties know exactly where the loan application is going.
- Building Your Own Loan – Helping students to make an informed borrowing decision. Post-graduation moment is a “shock”. Earnest’s new app is showing students what in-school repayment could do for their student loans. Making payments as small as $20 could make a huge difference.
- Payback Journey Explained – What happens after graduation? Earnest is introducing a 9 month full grace period vs the traditional 6 payments to make student’s “post-graduation” shock easier.
Timothy Li is a Senior Contributor for Crowdfund Insider. Li is the Founder of Kuber, MaxDecisions, Alchemy and has over 15 years of Fintech industry experience. He’s passionate about changing the finance and banking landscape. Kuber launched Fluid, a credit building product designed for college students to borrow up to $500 interest-free. Kuber’s 2nd product Mobilend is a true debt consolidation product, aiming to lower debt for all Americans. MaxDecisions provides financial institutions with the latest A.I. and Machine Learning algorithms and Alchemy is a state of the art end-to-end white labeled Lending Platform powering some of the best FinTech companies. Li also teaches at the University of Southern California School of Engineering.