Think about when you graduated from college or graduate school, and you came out with a crackload of loans with interest rates up the wazoo. Didn’t you wish you had some wealthy relative who could write a check to take away the financial pain? Or at least someone who believed in you and could make an investment on your behalf?
This is your opportunity to put your money where your heart is and make some student’s dream come true. And make money doing it! What better investment is that?
Did you believe in yourself after your graduated from school?
Do you believe in your alma mater?
Do you think your alma mater selects the most capable, ambitious, successful students?
This is not a donation.
Through a peer-to-peer lending company called CommonBond, you can invest in students by paying their student loan, and they in turn will repay you, with a 4-6% return for you. This is genius! Research shows that graduates of Wharton business school have less than a 1% chance of defaulting on their loan. I am all over this!
Oooo! I love this idea! I’m going to put it on my Facebook page. Thanks for sharing!
Seriously wish this was available when I was in school, because I am still paying off loans to this day. Thanks for sharing Catherine and sounds like a great idea!
i still have fannie mae loans, janine. you’re not alone!
I need someone to come pay my loan back, stat! Why didn’t I think of this idea?!
isn’t it a fantastic concept? i also think it would be great if alumni who aren’t new grads (i.e., someone like me who may need money for a down payment) could get loans from other alumni.