News
Los Angeles, CA -- LoanAmerica™ announced new education finance solutions to provide financial assistance to students with credit scores under 700. Current market lenders have become more selective with whom they chose to lend, and even then are not approving financing easily. LoanAmerica’s new program gives subprime students an opportunity to apply for aid and actually be eligible to receive it.
Financial aid guide FinAid in January 2008, predicted that all students would be subject to stricter lending conditions as a result of the subprime mortgage crisis, and they could not have been more accurate. Not only have students been subject to strict lending conditions, they simply can’t qualify. FinAid also predicted that the former 620 credit minimum would be raised to 650; little did they know it would be more like 700+ credit score plus a cosigner requirement.
LoanAmerica’s new education finance program could not have come at a better time. Individual schools need to apply and be approved before they are able to offer LoanAmerica’s products to students. Financing is currently limited to an $8500 aggregate maximium, certified by the school, and repayment begins immediately. LoanAmerica’s CEO, Dr. Maurice M. Salter believes, “There are few other options for students below the 700 FICO range. We wanted to develop a product to help the masses, and we believe we have done just that.”
For more information visit www.loanamerica.com or contact us at (866) 515-1572x104.
About LoanAmerica
We are a financial solutions provider dedicated to delivering financial alternatives to those who need it most. Our diverse portfolio of financial service products provides innovative solutions to both schools and students. Whether you are a school or a student, we have a customized solution for you. When other lenders have rejected your application, it’s time to give LoanAmerica™ a call at (866) 515-1572x104.
Source: LoanAmerica™, LLC