The Series C fundraising included $40 million in equity and a $200 million debt facility; the platform provides post-graduate loans to international students; it plans to use the funding to expand globally and offer more loans. Source
[Editor’s Note: This is a guest post from Nathan Treadwell, VP of Business Development at Nomad Credit. Nomad Credit is...
The main lobbying group for banks, the Consumer Bankers Association, is trying to get the government to add caps on how much graduate students and parents of undergraduates can borrow from the government; caps would force people to go to private lenders and would benefit those with better credit histories; there is also a group of investors trying to get clearer legislation passed for income sharing agreements; changes could result in billions of dollars worth of opportunities for banks and investors as the most recent academic year totaled $107bn. Source.
CommonBond, best known as a leading provider of online student loans, has made its second acquisition, NextGenVest, an artificial intelligence...
Climb Credit is taking a different approach to lending to college students, taking into consideration the ROI on a degree;...
The New York Fed's most recent Household Debt and Credit Report shows credit levels reaching new highs; total consumer debt for Q2 2017 was $12.8 trillion and student loan debt reached $1.3 trillion; Forbes highlights an increasingly upward trend in student lending which it says is being supported by federal government loans. Source
Nomad Credit provides their perspective on the large international student lending industry. Source
The platform announced their latest securitization which is a $233.75 million deal; provisional ratings of AAA were given by both Moody’s and DBRS; this is CommonBond’s sixth transaction and they have now securitized a total of $1.22 billion in loans. Source
CommonBond has laid off about 18 percent of their workforce as they restructure internally to prepare for what they believe...
Income Share Agreements (ISAs) are slowly growing in popularity as an alternative to traditional student loans; a new company called...