Cincinnati, OH (May 1, 2023) — LendKey, a pioneer in network digital lending, and Member Student Lending, a leading network of credit unions offering private student loan and student loan refinance lending solutions, today announced they are offering $20,000 in college scholarships.
Twenty merit-based $1,000 scholarships are available to members of the Member Student Lending CUSO credit unions and are one-time awards for high-achieving undergraduate students studying at an accredited four-year college or university.
“LendKey was founded to offer credit unions a better way to provide in-school private student loans and student loan refinancing to their members,” said Vince Passione, Founder and CEO of LendKey. “We know the cost of higher education can be daunting and wanted to give our credit union partners an additional way to help their members.”
Initially, LendKey’s scholarship program was designed to offer ten $1,000 scholarships, and Member Student Lending’s Board of Directors agreed to match it so there would be twenty scholarships. “We’ve always enjoyed a strong partnership with LendKey and are proud to join them in this scholarship program,” explained Dan Picard, Member Student Lending Board Chair.
Applications for the scholarships open May 1 at learnmore.scholarsapply.org/LendKey and the deadline for applications is May 29. LendKey has partnered with a third party, Scholarship America, to manage the selection process using a standardized rubric to measure candidates’ community involvement, academic achievements, and other qualifications. Winners will be announced in July.
LendKey delivers high-quality consumer loans directly to financial institutions through its digital lending-as-a-service model and indirectly through ALIRO by LendKey, an innovative deal network designed to enable financial institutions to buy, sell and broker loans. The platform delivers the technology, servicing, and support that financial institutions need to establish a strong digital lending presence, acquire loans for their balance sheets, and build lifetime relationships with their partners and customers. Lenders optimize their offerings by drawing upon LendKey’s fintech platform for demand generation, online decisioning, loan origination, loan servicing, compliance expertise, risk analytics, and proprietary balance sheet options. LendKey currently services more than $2.6 billion in loans and has helped community-capital providers deploy over $5.5 billion in loans since 2009. Visit LendKey for more information.
About Member Student Lending LLC
Member Student Lending LLC is a leading network of credit unions offering private student lending options to students and families nationwide through a turnkey digital lending solution. Formed in 2010, the CUSO is comprised of hundreds of progressive credit unions that built a member-responsive private student loan program utilizing common underwriting and pricing. Nationwide loans and a modern loan participation program allow credit unions to mitigate risk while still serving young borrowers.