Imagine you just graduated from university, and you start to work. In coming months, you need to allocate a small portion of your pay to pay up your student loan. Arent this a hard job to keep track? In recent year, some fin-tech(financial technology) companies have taken some steps to give the loan industry a new phenomenon. By doing a quick student loan data researching, there is over $1 trillion outstanding student loans in United state alone. These companies claimed that their subscriber can pay all the loan much faster compare to others. They will assist the borrower to schedule and realign their financial spending behaviour. Moreover, there also have many benefits such as system able to notify the user if they realize that the companies deals might not be the best choice for every student, they do offer some interesting and perspective loan system.
Apps to help you repay your loan: Student Loan Hero
When a borrower comes to take a loan, sometime, they are unprepared for the loan and repayment. There is a financial literacy gap which caused the student unable to repair their loan in time. Hence, for this reason, the fintech have come out this Student Loan Hero to help to close the financial literacy gap.
About Student loan hero:
Student loan hero is a platform which manages the student loan debt, Where a student can upload their financial problems, and the apps will advise the students what they should do. This is another area that fintech is making progress.FinTech firms that aim to assist students in paying off their student loans quicker. A number of the large lenders, like Sallie Mae, provide their own in-house programs, however, just one firm has taken on the challenge of serving to all borrowers pay down their loans.
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