Helping Students Connect with their Social Network to Secure Low-Cost Student Loans
GreenNote is an innovative new company that has been created to help students obtain loans for education via social networking rather than through traditional lending methods.
Nobel laureate Mohammad Yunnus and the Grameen Bank showed the world how small amounts of money deployed to the right people for the right purpose can change lives. GreenNote is applying this concept to address one the greatest challenge faced by today’s students—the rising cost of post-secondary education.
Using the GreenNote online platform, students connect with their social network—friends, family, friends of family, community leaders and others—to ask for small student loans. GreenNote helps formalize everything into legally binding loans and handles all the details from loan documentation through repayment.
The benefits are significant. Students gain access to low-cost loans, currently at 6.8% compared to private lending alternatives that typically range from 8.5% to 20%. The lenders, individuals in the social network, also earn a return on their money while helping a student get an education.
GreenNote generates revenue by collecting a one-time documentation fee from the students and a small management fee from the lenders. GreenNote is backed by Menlo Ventures and other prominent investors, and our platform is patent pending.
Check it out at www.greennote.com
21 August, 2008 at 9:22 am
i am a student ,have taken admission for hotel management 3 year degree course in atharva college. i am facing lot of problem in availing education loan,as my percentage is less than 50%.i want loan for my studies i have great interest in doing this course and have fiull confidence that i can do this course. can you help me by providing financial aid .i assyre you that i will do my level best .my yearly fees is 115000. help.