Financial technology company Fynanz announced on Tuesday the introduction of its new consolidation program for private student loans.
The EdSucceed Private Student Loan Consolidation will be issued by credit union lending partners within Fynanz's program and offer variable rate pricing to qualified borrowers, who can select either a graduated or level repayment option.
"We're pleased to announce the addition of a program with the current market demand of a private student loan consolidation," Fynanz CEO Vince Passione said. "Private student loan consolidation provides the opportunity to simplify finances and lower monthly payments and interest expenses. It also provides another powerful loan vehicle for our credit union lending partners to attract the GenY demographic following graduation."
EdSucceed has been in closed beta testing since November and will be made available to lending partners using the Fynanz platform on Feb. 1.
Fynanz powers the cuStudentLoans.org private student loan marketplace and provides custom private student lending programs and turnkey solutions to more than 100 credit unions.