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MeasureOne and Einstein Higher Edu Solutions Partner to Expand Access to Student Loans Through Alternative Data

News provided by news direct2022-05-10

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--News Direct--

MeasureOne, the leading consumer permissioned-data platform, today announced a new partnership and integration with Einstein Higher Edu Solutions, the third-party student risk scoring provider for lenders. Utilizing MeasureOne’s academic data capabilities, Einstein is improving the credit decision process by creating a new standard of student risk assessment, the Einstein Risk Score to better assess a student's creditworthiness.

Founded in 2021 by student loan industry veteran Aaron Pisacane in response to the changing higher education landscape, Einstein will expand the credit pool by assigning students a new risk score with alternative data that includes academic performance. As lenders begin looking for alternative data that better predict creditworthiness, Einstein’s assessment will allow lenders to responsibly lend to students without cosigners or students with non-qualifying cosigners.

“We’re proud to be partnering with Einstein as their data partner to help them create a better student loan process that promotes social equity and removes barriers so many students face in the path of college completion,” said Yaron Oren, Chief Revenue Officer of MeasureOne. “Together we are building a fairer system of loan underwriting that gives students control over their own academic data to secure resources they need to succeed.”

Through the alternative data produced with the integration with MeasureOne, students will be able to share their transcript data instantly with Einstein, thereby streamlining access to student loans. In seconds, they will be assigned a risk score based on their academic record, giving groups of students who previously may not have qualified for loans under traditional underwriting standards access to credit.

“Traditional lenders use only a cosigner’s credit history and income to determine if a student qualifies for a private student loan, and because of this limited scope we’re leaving behind thousands of students who didn’t get the funding they needed to complete college,” said Aaron Pisacane, Founder and CEO of Einstein. “These outdated lending practices have the biggest impact on disenfranchised groups of students. Through our partnership with MeasureOne, we can help promote social equity across higher education by giving hardworking students the access to higher education they deserve.

Einstein’s solution will be accessible to students and lenders beginning in the 2022-2023 academic year. Through MeasureOne's unmatched network of data sources and proprietary deterministic document processing, students at 100% of colleges and universities in the United States and Canada will be able to access and share their transcript data with lenders at no cost. The company’s industry-agnostic approach to consumer-permissioned data will enable the expansion of new data sources as Einstein refines the metrics used to determine risk scores in the future.

To learn more about MeasureOne's consumer-permissioned data solutions, please visit www.measureone.com.

About MeasureOne

Leading consumer-permissioned data platform, MeasureOne, is transforming the way businesses can access and leverage consumer data for growth and innovation. MeasureOne provides unmatched coverage with a growing list of 7000+ data sources and multiple geographies across a range of data domains that include income, employment, education, insurance, and more. Its extensible platform makes MeasureOne infinitely scalable without compromising consumer privacy and control over personal online data. Data you want. Data you trust. Consumer Approved. For more information, visit www.measureone.com.

About Einstein Higher Edu Solutions

Einstein was started in response to the changed higher education landscape and varied pandemic economic impacts to disadvantaged families. Its founder has witnessed the inability and unwillingness of large lenders to take the initiative to lend to students with acceptable risk profiles. Einstein removes all barriers to allow lenders to access a risk score to assess a student’s risk profile in seconds leveraging third party data integrations. For more information, visit www.einstein.consulting/einstein-risk-score.