For many college graduates, college loans are a terrible burden. Refinancing college loans into loans with affordable rates is next to impossible. However, SoFi founder and CEO Mike Cagney has created a wonderful solution to this problem.
SoFi is a social lending platform that brings together student loan borrowers, alumni and institutional investors. What makes it unique is that it doesn’t simply make loans. It also helps borrowers connect with alumni and other advisers who can help them succeed financially, increasing the chances that the loan will be successfully repaid.
The above quote is from this article by Gerri Detweiler at Credit.com. You can read her entire write-up on SoFi here.