WSFS Financial Corporation, the parent company of WSFS Bank, has announced it is now offering Private Student Lending Solutions, expanding its consumer lending product line to bridge the funding gap that exists between the actual cost of higher education and the federal aid, grants and scholarships available.
WSFS is partnering with LendKey, a cloud-based technology company headquartered in New York, to leverage its lending platform to offer private student loans and consolidation student loans via an online application process. These loans will be underwritten based on WSFS’ credit standards and WSFS will retain ownership of the loans, while LendKey provides assistance with the application, disbursement and servicing of the loans.
“WSFS identified an area of opportunity, and we knew we could fulfill a growing need within our communities to help fund the cost of higher education,” said Rick Wright, WSFS executive vice president and chief retail banking officer. “We want to be that valued resource that customers turn to when they start the difficult process of figuring out how to fund college.”
Go to www.wsfsbank.com/studentloans to learn more and to apply online for a private student loan or consolidate an existing loan.