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The cost of tuition for high education in the States is a major financial strain for students and parents in America. With reports surfacing in the media about the failure of the student loan market, ventures crop up offering alternative solutions.
One such venture is SoFi. SoFi allows university alumni to become investors and extend loans to students of their alma mater, at competitive rates. SoFi, short for Social Finance, is set on creating a community feel - rather than the common strictly-business-no-strings-attached mode of other financing services. Hence, on SoFi, one of the added values for borrowers is the accessibility to alumni and fellow students, who can offer assistance and be of counsel. [Source: SoFi]
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