Keeping college students in school: CampusDoor microloans fill gap as financial pressures intensify
CARLISLE, Pa .– (COMMERCIAL THREAD) –Campus Door, one of the country’s leading third-party loan origination stores, has launched a white label microcredit service, enabling banks, credit unions, colleges and universities to prevent unforeseen events from derailing education students.
CampusDoor’s microcredit origination platform makes it efficient and profitable to loan students $ 500 to $ 3,000 to cover laptop repairs, texts, lab fees and other unforeseen expenses. At a time of increased pressure from COVID-19 and the economic downturn, these microloans benefit:
Students with greater financial need, who may leave school permanently and default on their pre-existing loans, unless they can meet a small shortfall
Educational institutions seeking to improve university scorecard results by maximizing graduation rates
Banks and Credit Unions Seeking the Competitive Edge of Long Term Relationships with Upwardly Mobile Young Borrowers
“For many students, a college education is the stepping stone to a better life, and everyone deserves this opportunity, ”said Steve Winnie, CEO of CampusDoor. “These microloans can make a significant difference in helping students with limited means stay on track when the unexpected happens.
Lenders can also make unsecured microloans available to anyone who needs help with car payments, medical bills, and other expenses.
The CampusDoor application and processing system for these microloans is 100% digital and dynamically generates the acceptance, conditions and rates according to the risk parameters of the lender.
Borrowing via the intuitive interface is transparent. People can use any device, navigate the app, receive real-time decisions, and sign documents electronically. Inbound call center support is also available to them.
For more information visit CampusDoor.com.
CampusDoor is one of the largest third-party loan assembly stores in the country. The company provides innovative white-label solutions to lenders, enabling them to help clients finance college education, pay off high-interest debt, or cover other unforeseen costs. CampusDoor has processed over $ 24 billion in private student loan applications, assisted over 2.2 million borrowers, and supported over 1,000 unique loan programs. See CampusDoor.com.