Student loan startups are seeing tailwinds of new investment and new customers as the U.S. faces a continued student loan debt crisis.
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The Federal Reserve estimates $1.7 trillion in U.S. student loan debt. Students, on average, graduate with $29,000 of private and federal loan debt and default on their loans at a rate of 15 percent.
Startups in this space are developing technology to target both private and federal loan debt in areas, such as responsible lending, loan management and refinancing, as well as make it easier for employers to create benefits that aid employees with their loan repayments.
A lot needs to be fixed, Jeannie Tarkenton, co-founder and CEO of Atlanta-based Funding U, a merit-based…
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