SoFi Targeting Medical Residents

In October SoFi launched an offering targeted at medical school graduates; American Banker shares how the move is just the latest example of how lenders use data to tap into new borrower niches; the average debt load of medical school graduates is $190,000 and during residency salaries are around $60,000; since their income is low traditional lenders often won’t refinance these loans; with the new product residents can consolidate their debt and make a $100 monthly payment until they finish training. Source

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!

[class^="wpforms-"]
[class^="wpforms-"]