Thousands of Students use LendKey as an Educational Resource to Finance and Refinance Student Loans through Lending Partners
New York, New York June 11, 2019 — LendKey Technologies, Inc. today announced the successful completion of its #RefiResponsibly educational campaign. With more than seventy percent of college students graduating with student debt, the campaign was designed to guide graduates through the journey of refinancing their private and federal student loans responsibly.¹
The campaign consisted of educational content distributed throughout the months of April and May in support of Financial Literacy Month and has been viewed by over 4,000 consumers to date. Topics included a detailed overview on student loan refinancing, when and if refinancing is the right choice for graduates, and pain points for graduates who are considering student loan refinancing and consolidation. The campaign was inspired by a recent study which found that seventy-five percent of borrowers had less than “sufficient” information to know what their payments would be when the time came to repay their student loans.²
“Graduates are holding off on their dreams of owning a home, starting a family, or saving for retirement to pay off their student loans,” said Lewis Goldman, Chief Marketing Officer at LendKey. “We are proud to provide quality educational resources to help borrowers finance and pay off this debt responsibly.”
Nearly 45 million Americans are currently repaying their education loans.³ Two out of three people have taken out loans to help finance their education. Encouraging responsible student loan borrowing and refinancing will be key to a healthy economic future for higher education and the U.S. economy as a whole. Starting this month, LendKey is stepping up to the plate and launching another campaign called #FinanceYourDreams, which will be focused on promoting healthy student borrowing habits while in college. These campaigns will continue to be promoted online and through LendKey’s lending partners, who serve millions of borrowers collectively. Learn more about the campaign at LendKey.com/blog.
LendKey delivers the seamless technology, servicing, and support that financial institutions need to establish a strong digital lending presence and build lifetime relationships with prime borrowers. Created to help financial institutions improve lives with lending made simple, LendKey enables partners to effectively manage liquidity, reduce lending costs, and mitigate risk. Lenders optimize their offerings by drawing upon LendKey’s demand generation, online decisioning and loan origination engines, loan servicing, compliance expertise, and proprietary balance sheet options. Founded in 2009, LendKey works with hundreds of credit unions and banks that have collectively deployed over $2.8 billion in education and home improvement loans. LendKey was recently named to the CB Insights Fintech 250 list and was recognized as a top fintech employer by American Banker and Credit Union Journal. Visit lendkey.com/lend for more information.
¹ Source: https://www.cnbc.com/2017/07/03/this-is-the-age-most-americans-pay-off-their-student-loans.html
² Source: https://www.lendkey.com/wp-content/uploads/2019/04/Media-Infographic-2.pdf
³ Source: https://studentloanhero.com/student-loan-debt-statistics/