WEST PALM BEACH, Fla. - It isn’t just CUs seeking to fill the void on student loans. A number of so-called peer-to-peer (P2P) lenders, including Zopa (CU Journal, Dec. 8, 2007) and other websites have also emerged, among them:
* Fynanz and CollegeDegreeFund.com. Their sole function is student loans, allowing borrowers to create an online listing with their educational profile, along with a loan and rate request. A student can request unsecured loans from $2,500 to $20,000 with terms from 10 to 20 years.
* Simple Tuition Inc.. The website aids students and parents in comparing student loan options. The site reports it assisted some two-million people, but it has seen a decrease in the number of partner lenders with which it works, to 31 from 55.
* Virgin Money. Launched as CircleLending, it helps formalize loans between students and relatives for a $299 fee.
* Lending Club. The service has a Facebook-supported application.
* Prosper. It features an auction-style site that connects lenders and borrowers.
