06 Mar InvestEd – Loans for poor and low-income students
Founder: Carmina Bayombong
InvestEd is a student loan service which prioritises poor and low-income students. With no credit scoring, they are shut out of traditional bank loans. Even government loans are little help, since they require proof of income for the parents.
To overcome this problem, InvestEd has developed a three-tier platform to select likely candidates, draw investors and ensure repayment. Its proprietary credit-scoring algorithm measures the probability of timely graduation, career success, and non-payment risk, and is reiterated at regular intervals to constantly improve the model.
Last year InvestED changed the lives of almost 25,000 students throughout Washington state, without paperwork or questions. Immediate help when it was needed most.