Helping individuals pay back their student loans through refinancing as low as 2.13%
Nate Matherson is the CEO and co-founder of LendEDU, an online platform for student debt refinancing. LendEDU allows its users to compare rates between 12 different student loan lenders, including SoFi, LendKey, iHelp, Education Success Loans, College Ave Student Loans, Upstart, and more. Nate started the company with his dormmate, Matt Lenhard, at the University of Delaware in 2014; since then, LendEDU has graduated the Iowa Startup Accelerator and Y Combinator business accelerator programs, and has been featured in media outlets such as The New York Times, The Wall Street Journal, CNN, Bloomberg, NPR, CBS News, Fox News, TechCrunch, and many others.
EDWIN WARFIELD: Where do you see LendEDU in five years?
NATE MATHERSON: That’s a really hard question. Back in the day, we used to treat every week and every day as its own little marathon. We used to have a day-to-day view, but it wasn’t up until the last six months where we could start to step back and think longer term about our business. Really, for the first time in our company’s history, we’ve been able to start planning for the next quarter, whereas we always used to plan for the next week.
I‘m still having trouble planning for the next quarter so, answering the question about where LendEDU is going to be in five years is difficult, but LendEDU in five years is not going to be a student loan-only company. We are positioning LendEDU now to make our way into other financial products like personal loans, bank accounts, and credit cards. We want LendEDU to become a company that helps consumers learn about all of their finances—not just student loans—and then helps consumer save money on all of their finances, and not just their student loans.
We believe that with our same technology we can help people save money on their student loans, their credit cards—their mortgages maybe one day in the crazy universe—but LendEDU five years from now is going to be a lot broader in the personal finance space than it is today.
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