YourLoanAdviser believes in supporting students in achieving their dreams of a higher education. As such, educating the financial community about private student lending best practices and processes is a top priority for us. That’s why our own Steve Pachella, Vice President of Capital Markets, will be speaking about opportunities in specialty finance at the Alternative Lending Summit on October 23rd, 2017.
The nation’s major credit rating bureaus (Equifax, Experian and TransUnion) have announced they will change the way they calculate credit scores by removing several debts that negatively affect a person’s FICO score. As a result, analysts indicate almost 12 million people could see their FICO scores rise later this year.
Today’s college students are savvier about their higher education choices – which school to attend, what to major in and choosing how to pay for it. These late Millennials and early GenZers simply don’t accept the status quo.
It’s not easy to provide financial services to the Millennial generation. Overall many are underbanked, wary of debt and banking institutions alike, and not very brand loyal. Half of Millennials are inclined to change financial institutions for a perceived better product.