SuperMoney launches student loan refinancing marketplace
Financial services comparison site SuperMoney is venturing into new territory with the launch of its student loan refinancing comparison marketplace. And since student loans are the largest source of unsecured debt in the US, with outstanding loan amounts totaling $1.53 trillion, now is as good a time as ever for the new endeavour, reports Julie Muhn at Finovate.
Is it a bird? Is it a plane? No, it’s SuperMoney!
The new marketplace aims to help students make smarter decisions when refinancing their existing student loans.
By submitting a single application, users can receive actual rate quotes in real time from multiple lenders, including LendKey, CommonBond, and SoFi.
Each offer shows users a breakdown of monthly costs, payments, and fees so that they can make the best decision based on their circumstances.
The free process takes seconds and won’t hurt applicants’ credit scores. SuperMoney doesn’t harvest and sell applicant information.
Founded in 2013, SuperMoney offers a range of widgets to help users find the right tools to achieve their financial goals. Users can compare mortgage offers, credit cards, loan offers, and annual percentage yields on savings and checking accounts.
The announcement comes a couple of months after SuperMoney’s last product launch – an auto loan comparison engine. The tools allow prospective borrowers to use a single platform to compare between secured and unsecured loans, refinancing, and private party auto loans.
Also this fall/autumn, the company announced it has surpassed $1 billion in financing requests to lenders via its platform.
