New public, private and college-based programs are targeting a grim and growing market: unemployed college graduates who can't afford to repay their student loans.
This week, BridgeSpan Financial, a start-up based in Washington, D.C., introduced SafeStart, a product designed to protect borrowers from the risk of defaulting on their loans. For an upfront payment of $40 to $60 per $1,000 of student debt, SafeStart will provide an interest-free line of credit that borrowers can use to repay federal student loans for up to five years after graduation.
Sunday, August 16, 2009
Pay Off Your College Loans
I guess there's money to be made in this, or the company wouldn't do it: