The following is a press release from People Capital, posted exactly as sent to Prosper Lending Review.
New Web Tool Allows Student and College Planning Consultants to Compare College Options
NEW YORK – People Capital (http://people2capital.com/), a Web resource for college students to obtain student loans via an online lending exchange, has launched the Human Capital Score™ College Planning Tool (http://www.humancapitalscore.com/). The new Web tool is designed for students (and college planning consultants) who want to use the Human Capital Score to compare multiple projected income scenarios based on colleges they are considering attending.
The Human Capital Score College Planning Tool is a Web based college scenario planner that is targeted for students who are planning to go to college and need help measuring the economic value of various schools they are considering. Namely, the tool can help students decide whether it is worth the money spent to go to one school as compared to another, based on the income potential from the academic choices they make. The planning tool works when a user inputs key data about themselves (GPA, SAT scores, planned college major) and the various schools they are considering. The tool then calculates the data and presents a graph and chart documenting results of several scenarios (up to five maximum) of the user’s potential income 10 years after graduation, allowing the user to compare the results between colleges she is considering. This tool can also be used by college planning consultants and high school guidance counselors with a professional version available for their consulting needs.
The Human Capital Score College Planning Tool is predicated on the Human Capital Score, a Web calculator developed and launched earlier this year by People Capital. Built on research developed at The Wharton School of the University of Pennsylvania Insurance Department, the Human Capital Score helps students assess their student loan risk by using academic merit data such as GPA, standardized test scores, college and major, along with traditional demographics data and metrics, to give insight into their future earnings potential.
“Since launching the Human Capital Score earlier this year, we have received feedback from users who found the tool helpful and insightful, but thought that the ability to compare various college scenarios would be an added benefit,” said Thomas Shelton, founder and CEO of People Capital. “The Human Capital Score College Planning Tool now adds this level of functionality; as students can use it to create multiple scenarios to help them better evaluate their loan risk, future potential earning income and possibly the college or university they will spend the next several years at.”
The Human Capital Score College Planning Tool is available in three tiers of pricing:
· $19.95 – Compare and contrast up to two scenarios at a time, for one time use only
· $29.95 – Compare and contrast up to five scenarios at a time, for one time use only
· $199.95 – Compare and contrast up to five scenarios at a time for six months with unlimited usage
About People Capital
People Capital (http://www.people2capital.com) was founded by a team of world-class talent with backgrounds in student loans, consumer finance, credit ratings and new media in order to develop the next generation of credit risk management and funding for student loans. Its lending platform allows students to finance their college educations through improved access to private student loans. Its patent-pending Human Capital Score™ (http://www.humancapitalscore.com) measures students without credit history by using academic and credit data to model future individual income levels, and therefore their future ability to pay off the loan.
Showing posts with label People Capital. Show all posts
Showing posts with label People Capital. Show all posts
People2Capital.com: Poised to Issue P2P Student Loans This Fall
I had the opportunity to hold an email interview with Alan Samuels, Chief Product Officer at People Capital this past week regarding their new P2P student loan platform.
People Capital will be launching this fall—first to institutional accredited investors under a private placement memorandum, and later they’ll be filling a S-1 to open their platform to all prospective peer to peer lenders.
People Capital will be providing legally-compliant “private student loans” which are not bankrupt-able, unlike other P2P loans. Mr. Samuels cites a potential $113 Billion gap in federal college funding limits and the actual costs of college attendance in the USA as a growing market for these private student loans. Also, many lenders are shying away from investing in student loans due to college students' lack of established credit history and the difficulty of measuring risk without a credit score.
Samuels explained to me how People Capital can navigate this marketplace better than any of the competition due to their patent-pending “Human Capital Score” which is a proprietary underwriting tool. The Human Capital Score will include the students’ field of study, test scores, and GPA to determine the student’s creditworthiness.
Loans will be available on a long term or short term basis, and a requirement of being a legally-compliant private student loan, enrollment verification is mandated. Like other P2P loans funding isn’t guaranteed, and depends on how attractive the borrower’s request is to prospective lenders, and how large the pool of lenders is.
People Capital is in Series B funding, and has just received an additional $500,000 from The Serious Change Fund, helmed by investor Josh Mailman. (Source: WealthReview News)
Jessica Ward is a freelance writer in the Seattle area and writes on family and finances. You can follow her on Twitter as @Jessc098
People Capital prepares for 2009 launch
People Capital announced they received funding from the Radcliff Group in an effort to prepare their student loan peer to peer lending site for the 2009 academic year. An excerpt from the press release is reprinted below.
Fynanz, the first peer to peer site to focus on student loans, recently suspended accepting new borrowers and lenders due to "market conditions."
People Capital, developer of an innovative peer-to-peer student loan platform, announced today that it had secured a second financing round from Radcliff Group Inc., a New York based private equity firm. The funding will be used to enhance People Capital's Human Capital Score™, a model that provides a true measure of the creditworthiness of a student, and to develop its next-generation peer-to-peer (p2p) lending platform to provide improved access to private student loans.
Warren Serenbetz, Jr., CEO and President of Radcliff Group, stated that, "People Capital offers a truly unique approach to education financing, combining traditional and innovative approaches that produce an attractive yet safe lending scenario for students and the individuals and institutions that invest in their educations." "Our peer-to-peer lending platform brings a unique solution for students to finance their college educations. It leverages our cutting-edge research into developing a credit risk assessment methodology based upon students' potential, rather than merely their credit payment history," said People Capital Founder and CEO Thomas Shelton.
"Our unique Human Capital Score means that we can underwrite students without credit history by being able to project individual income levels and ability to pay. Traditional methods ignore a student's potential. Based on research coming out of The Wharton School Insurance Department, we incorporate merit data such as GPA, standardized test scores, college and major to provide a true and unbiased, data-driven measure of the economic value of an education. Our credit assessments will allow lenders to make credit risk decisions based on the true potential of the borrower."
Poised for funding the 2009 academic year, People Capital has formed a world-class team of professionals including veterans of the student lending, consumer finance, credit ratings and new media industries. A more detailed business plan is available to qualified investors and institutional partners.
Fynanz, the first peer to peer site to focus on student loans, recently suspended accepting new borrowers and lenders due to "market conditions."
People Capital, developer of an innovative peer-to-peer student loan platform, announced today that it had secured a second financing round from Radcliff Group Inc., a New York based private equity firm. The funding will be used to enhance People Capital's Human Capital Score™, a model that provides a true measure of the creditworthiness of a student, and to develop its next-generation peer-to-peer (p2p) lending platform to provide improved access to private student loans.
Warren Serenbetz, Jr., CEO and President of Radcliff Group, stated that, "People Capital offers a truly unique approach to education financing, combining traditional and innovative approaches that produce an attractive yet safe lending scenario for students and the individuals and institutions that invest in their educations." "Our peer-to-peer lending platform brings a unique solution for students to finance their college educations. It leverages our cutting-edge research into developing a credit risk assessment methodology based upon students' potential, rather than merely their credit payment history," said People Capital Founder and CEO Thomas Shelton.
"Our unique Human Capital Score means that we can underwrite students without credit history by being able to project individual income levels and ability to pay. Traditional methods ignore a student's potential. Based on research coming out of The Wharton School Insurance Department, we incorporate merit data such as GPA, standardized test scores, college and major to provide a true and unbiased, data-driven measure of the economic value of an education. Our credit assessments will allow lenders to make credit risk decisions based on the true potential of the borrower."
Poised for funding the 2009 academic year, People Capital has formed a world-class team of professionals including veterans of the student lending, consumer finance, credit ratings and new media industries. A more detailed business plan is available to qualified investors and institutional partners.
Subscribe to:
Posts (Atom)