Fynanz, Inc., the monetary technologies firm that develops customized private student lending solutions and powers the cuStudentLoans.org private student loan marketplace, recently announced the introduction of their new private student loan consolidation program. The new offering, recognized as the EdSucceed Private Student Loan Consolidation, will accompany the existing EdAccess Private Student Loan in Fynanz’s suite of loan merchandise. EdSucceed, like EdAccess, will be issued by credit union lending partners within Fynanz’s program and supply variable rate pricing to qualified borrowers. The loan will also afford borrowers the capability to manage their expenses by selecting either a graduated or level repayment option.
“We’re pleased to announce the addition of a program with the present market demand of a private student loan consolidation,” said Vince Passione, CEO of Fynanz. “Private student loan consolidation supplies the opportunity to simplify finances and lower monthly payments and interest expenses. It also gives another potent loan vehicle for our credit union lending partners to attract the GenY demographic following graduation,” continued Passione. The EdSucceed Private Student Loan Consolidation, which has been in closed beta testing given that November, will be produced offered to lending partners making use of the Fynanz platform in March of 2011.