Be Ready When Student Loan Pause Ends
Student loan interest freeze ends and payments resume
What does student loan payments restarting mean for borrowers?
President Biden temporarily paused student loan payments in 2020. The student loan payment pause is ending on January 31, 2022 with over 43 million borrowers forced to resume their student loan payments.
Since the the student loan payment pause started, many events have happened to student loans, including new PSLF inclusions, change of lender, and new payment plans to start. Most borrowers are in the dark about their student loan information and even more unsure where to even start.
What does it mean to you?
Help borrowers connect their banks to their loans, process payment, and figure out where their loan is, the type, payment plan, and more. Chaos is right around the corner, is your infrastructure ready? We’re here to help you bridge that gap, with no 3rd party, ever.
Be prepared for the pause on student loan payments to end
What are the opportunities for businesses?
Adding more confusion to the student loan payment pause ending are the loans changing to a new lender, affecting more than 25% of the borrowers. Lack of student loan data and assistance would result in borrowers missing their student loan payments, increased repayment amount, and a credit score ding.
This is an amazing opportunity to assist borrowers with account information, account management, and payments.
Is your platform ready?
We're here to help
Our debt APIs helps businesses and borrowers achieve a full financial picture so borrowers can make better financial decisions, while driving incremental revenue to businesses. We make it easy for businesses to bring value to borrowers with better data, intelligence, automation, and debt repayment, including refinancing, with our no code drop-in modules that gets businesses up and running fast.
Embedded fintech solutions cover a wide range of use cases
Help borrowers have a healthier and happier relationship with their student loan debt
With our tech, it is easy for all borrowers to connect, manage, refinance, and pay their student loans in January.
Easily empower borrowers by giving them the keys to making smart student loan debt decisions with our intelligence.