Partnership opportunity could connect thousands of prospective student borrowers each quarter with a private student loan provider
Yrefy, a student loan refinance company focused on helping borrowers with private student loan debt, announced that it is seeking a private student loan originations partner to help serve a growing segment of consumers seeking new financing for higher education.
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Based on current inquiry volume, the relationship could represent approximately 12,000 to 24,000 prospective student loan inquiries annually, creating a potentially significant customer acquisition channel for the selected lending partner.
Each quarter, Yrefy receives approximately 3,000 to 6,000 inquiries from consumers looking for new private student loans to help pay for college and other eligible education expenses. Because Yrefy’s lending platform is focused exclusively on refinancing existing private student loan debt, the company is currently unable to provide new in-school or education financing to these prospective borrowers.
Yrefy is now looking to establish a strategic relationship with an experienced private student lender that can serve these consumers.
“Thousands of prospective borrowers are already coming to Yrefy looking for financing to continue their education, but new student loan origination is outside our current lending model,” said Brandon Fenstermaker, VP of Marketing at Yrefy. “Rather than turn those consumers away, we see an opportunity to work with a strong lending partner that can provide them with an appropriate financing solution.”
The proposed partnership would allow Yrefy to refer eligible consumer inquiries to a participating lender offering private student loan products. The lender would retain responsibility for its own underwriting, credit decisions, disclosures, loan terms, regulatory requirements and loan origination process.
Based on current inquiry volume, the relationship could represent approximately 12,000 to 24,000 prospective student loan inquiries annually, creating a potentially significant customer acquisition channel for the selected lending partner.
Yrefy is particularly interested in speaking with banks, credit unions, fintech lenders and established private student loan providers that:
- Originate new private education loans;
- Have the operational capacity to manage meaningful consumer volume;
- Maintain strong compliance and consumer-protection standards;
- Can support digital lead or application handoffs; and
- Are interested in developing a scalable, long-term referral relationship.
“This is demand that already exists,” added Brandon. “Our objective is to find the right organization that can help these consumers while creating a meaningful new source of potential originations for the partner.”
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