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
The Problem
The Solution
Better Outcomes & Benefits
Say Hello to More Customers.
Faster Turnaround. Less Churn. Better Outcomes.
Simplify Real-Time Account Updates.
Connections That Always Work. Data That Works For You.
Upside refinances student loans for a lower interest rate while automatically generating a solid foundation for retirement.
Products Used
-
Connect
-
Pay
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