Student Loan Lenders

Improved Engagement Adds Up To Better Debt Outcomes

  • Collect extensive data to help your tools perform better
  • Monitor loans for refinance qualifications
  • Use our calculator to determine payment amounts
  • Enjoy the option of paying off originators in real time
Student Loan APIs
The Problem
Too often, lenders suffer inefficiencies as the result of a dense or disorganized refinancing and repayment process with high CAC plus operational costs.
The Solution
Spinwheel’s API provides an embedded debt solution for personalized, fast-and-easy refinancing, efficient loan management and payment tools, as well as lower CAC. Keep borrowers engaged with improved financial literacy. Schedule alerts for when a borrower is eligible for refinancing and pay off the original lender all in one go.

Better Outcomes & Benefits

Debt Refinance Calculator
Say Hello to More Customers.
Our network gets you in front of millions of borrowers ready to refinance. Spinwheel’s easy-to-use debt calculator opens up all-new refinance capabilities, so borrowers can make data-driven decisions to improve outcomes, and drive your revenue.
Embedded Debt API
Faster Turnaround. Less Churn. Better Outcomes.
Get the exact payment amounts so you can speed up refinancing and pay off existing loans in real-time. Embedded payments reduce churn and boost results with happier borrowers. Plus, pre-filled applications and 24/7 account monitoring lets you know when to refinance.
Student Loan API
Simplify Real-Time Account Updates.
Reduce chaos by having all student loan accounts managed in one place. Borrowers can easily change, turn on auto-debit, or update any account, in real time, directly from your platform.
Real-time Financial Data API
Connections That Always Work. Data That Works For You.
Ensure your customers are able to manage their authenticated accounts anytime, anywhere with one-time connections. Comprehensive, real-time data keeps the information fresh, accessible, and relevant for you and your customers.

A Smarter Way to Lend For Improved Revenue.

  • Gain real-time insight into student loan data
  • Retain borrowers with smart tools to manage and pay down debt
  • Improve user experience with originator’s exact or real-time payoff amounts
  • Interactive smart debt calculators lets borrowers see impact in real-time
  • Build borrower trust with our loan migration drop-in module
Debt and Loan APIs
Case Study > Student Loan Lenders

Upside refinances student loans for a lower interest rate while automatically generating a solid foundation for retirement.

Products Used
  • data-icon Comprehensive Data + Insights
  • Real-time Debt Payoff Real-Time Debt Payoff

The Problem

Upside transforms student loan debt, the most complicated consumer debt, into a wealth creation tool by refinancing the original loans such that each payment can be used for investments like a 401k or other options. Paying off the original loan during a refinance is difficult and error-prone. Interest accrues on a daily basis and traditional money movement, including sending electronic or physical checks, makes the payment date a moving target. Underpayment or overpayment are common scenarios which lead to delayed closings, customer reimbursements, and customer service issues.

The Solution

Using Spinwheel’s solution, Upside is able to:

  • Streamline their loan application process by using existing loan information
  • Target specific loans and sub loans for refinance and payoff
  • Determine the exact amount to be paid off at any point in the future and payoff payments are initiated and reconciled in real time
  • Avoid sending paper checks or slow ACH transactions
  • Eliminate customer service issues, refunds and clawbacks resulting from over or underpayment
  • Close new loans and originations faster, helping borrowers begin building wealth sooner

Spinwheel: Better Outcomes Made Easy

Debt and Loan APIs
1.

Borrower connects their student loan account via the app

Debt and Loan APIs
2.

Once authenticated, you have access to their debt information 

Debt and Loan APIs
3.

Borrowers can start making payments or refinancing right away