New Cooperative Refinances Student Debt

That's where Seattle's Salish Sea Cooperative Finance comes in. As a social enterprise, SSCoFi "refinances high-interest student loans in Washington by reinvesting its members’ financial resources." The basic premise relies on the fact that the community can -- and should -- invest in the education of its future leaders. It's a win-win scenario as the graduates get a little break on their payments while the investors enjoy a solid profit margin... and all of those assets stay within the community. It's sort of like Lending Club, but for local college graduates.

Read the full article at Shareable

 

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