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Lending 2.0

The New York Times recently ran an article about new peer-2-peer lending networks that have been popping up for student loans.  Students submit profiles to one of these services and then people bid to give them loans at various interest rates.  However, many students don’t get any bids, and from the stories in the NYT it looks like the most needy are the least likely to get help.  It is a trend to watch though – students who are getting loans through these sites are often getting them at lower interest rates than ordinary private loans.

If you’re interested, here are a few of the more popular p2p lending sites: Virgin Money, Fynanz.com, GreenNote.com, and Prosper.com.

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