Let Your Fellow Harvard Grads Pay for That MBA

摘要

As borrowers go, you'd think an MBA student at Stanford University would be a lender's dream. The school says fewer than 1 percent of its graduates defaulted on their loans in 2011, and 95 percent had jobs within three months of graduation. Yet Adam Potter, a former marine, couldn't get a bank loan to help fund his second year at the Stanford Graduate School of Business without a co-signer. Then he heard about an unlikely source of money: the school's alumni. Within hours of submitting an application to SoFi, the startup that organized the alumni investors, Potter learned he'd secured a loan of $20,000 with an interest rate of 6.24 percent.