Categorie: student loans

P2P Lending & Education: CommonBond Launches With $3.5M, Joining SoFi In Quest To Solve The Student Debt Crisis

borrowing, CommonBond, crowdfunding, debt, edtech, education, Fundings & Exits, p2p lending, peer-to-peer lending, social, SoFi, Startups, student loans, TC, Venture

Screen shot 2012-12-01 at 7.32.14 AMPiggy-backing on the recent launch (and massive funding) of SoFi, a new startup is launching today that wants to breathe some fresh air into the broken, complex and mollasses-slow student loan system.

New York City-based CommonBond aims to bring the power of crowdsourcing to bear on student debt by connecting student borrowers and alumni investors and offering loans at a lower fixed rate than what they’d find with Uncle Sam. And, to help kick-start this initiative, the startup is announcing today that it has raised $3.5 million in outside funding.

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Trying To Be Mint.com For Student Loans, Binksty Raises, Redesigns, Hits $10M In Debt-Under-View

Binksty, social, Startups, student loans, TC, Venture

Binksty Logo BLast October, we wrote about Binksty, a young startup that aims to give college students saddled with debt a one-stop shop to manage loans, pay off debt, as well as educate them on the best ways to save money. The student loan situation in the U.S. was atrocious then, and it continues to be atrocious now.

A recent report from the New York Times shows that the total balance of student loans is currently $870 billion. Not only that, but 40 percent of people under 30 have outstanding student loans, the average of which is $23,300. If that’s not enough to make you cringe, I don’t know what is.

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