Funding U strives to be the home for students and parents trying to make outcome-driven decisions about college and how to pay for it. We believe that high-achieving college students – regardless of family income - deserve the resources and information needed to become educated, employed, financially-stable adults.
Funding U launched its no co-signer loan to cover ‘last gap’ college costs in Georgia in 2016, expanded across the nation in 2018, and now offer loans to residents of 30 States. Every year, 5 million students cannot access a bank loan due to a lack of traditional credit history. More than half will delay or drop out of school. To date, the company has received $500M in loan applications - and has originated $4M, proving the concept of providing credit based on academic patterns combined with forward looking earnings and employability.
By partnering with social impact debt investors including the Caerus Foundation, MacKenzie Bezos, the Fuqua Family, and a U.S.-based bank, as well as fintech equity investors Deciens Capital and Valor Ventures, we will grow to $20m in total loan originations by the end of 2020.
At the heart of our business is our predictive data analytics platform which identifies, acquires, and engages the ~25M American students who annually graduate 4-year college, gain employment, and achieve steady earnings. Young consumers - particularly those who grew up in low or moderate-income households - are grossly underserved by the financial services industry due to a mismatch with traditional FICO-based underwriting.
We started this company to provide a product thousands of college students told us they need - a loan that a student can get on his/her own, based on hard work, tenacity, and focus - not based on the income level or credit score of a loan co-signer. We wish no one needed student loans. But, in a world in which college costs are high, financial aid is limited, federal loans have small caps, and banks won’t provide loans without a co-signer, we chose to offer a solution. We love technology, value human honesty and ‘real’ answers, and we always want feedback. But, most of all, we are honored to be part of our borrowers’ journeys towards their academic goals and professional dreams.
Founder + CEO
Cofounder + COO
Head of Analytics
Senior HR Advisor
Regional Director of Business Development
Head of Capital Markets, Director - Partner Ret. Goldman Sachs
LOAN ELIGIBILITY: Must be a US citizen or permanent resident, age 18 or over. Must be enrolled as a full-time undergraduate student in a bachelor’s degree program at a Title IV-eligible four year college (for-profit schools not eligible).
LOAN AVAILABILITY - Residents of the following states are eligible for 2020-2021 loans:
Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Illinois, Indiana, Kansas, Maryland, Massachusetts, Michigan, Missouri, Nebraska, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Vermont, Virginia, West Virginia, and Wisconsin.
Terms and conditions vary by state.
DISCLAIMER: Offered terms are subject to change. Loans are made by Funding University which is a for-profit enterprise. Funding University is not affiliated with the school you are attending or any other learning institution. None of the information contained in Funding University's website constitutes a recommendation, solicitation or offer by Funding University or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.