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A new way to crowdsource your student loans

article Crowdfunding
A new way to crowdsource your student loans
This unique lending model is gaining traction with schools, investors and borrowers. In 2012, it made $100 million in loans to students from 78 schools. “Now we’re aiming to fund $750 million in loans for students and recent graduates,” says Mike Cagney, founder and CEO of crowdsourcing platform - SoFi. Interest rates run as low as 5.49% for a five-year loan, 6.125% for a 10-year loan and 6.625% for a 15-year loan. Our borrowers are saving an average of $5,600.”


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