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
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.
- Comprehensive Data + Insights
- Real-Time Debt Payoff
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.
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
Borrower connects their student loan account via the app
Once authenticated, you have access to their debt information
Borrowers can start making payments or refinancing right away