GreenNote Officially Launches Today, Helping Students Pay for College
Last month, I interviewed Akash Agarwal about his new company, GreenNote. GreenNote is a microfinance Web site that you can visit to get help paying for college. Today it officially launches (although it has found some success in testing). Here is some information from a press release GreenNote sent me:
Students with active loan drives through GreenNote choose whether they wish to participate with the GreenNote Network of lenders. Unlike private bank loans or other traditional loans, GreenNote does not require students to have a credit report, co-signer or show proof of citizenship. The rate is fixed at 6.8 percent compared to private lending alternatives that typically carry a variable rate up to 20 percent.
Lenders can provide as little as $100 to the students they wish to support. GreenNote manages the entire process by formalizing the agreements for all its lenders into legally binding loans and handles all the details from loan documentation through repayment, making it simple and easy for lenders to loan money to students.
If you are facing a college funding gap — with cuts to education help from the government and the rising cost of tuition, books, room and food — it might be worth looking into whether microfinance can help you pay for college.
Image source: sxc.hu
Tags: college funding, education funding, education government, GreenNote, microfinance, pay for college, personal-financesRelated Stories
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