The Chief Strategy Officer of Darien Rowayton Bank (DRB) said that now is the perfect time to introduce an in-school student loan financing program for MBA students that could save the average student $16,000.
Jenny Chou said the success of DRB’s student loan refinancing program enjoyed in its short history convinced DRB to expand into offering options for in-school borrowers.
In 2013, DRB launched an online consumer lending service, and in the two years since then, has originated $950 million in student loan refinancing for more than 9,000 professional degree holders across the United States.
On Aug. 3, DRB launched the in-school program.
“We thought borrowers could receive better service,” Ms. Chou explained.
The program begins with a pilot group of 17 schools whose graduates have excellent earning potential. Should it fare well, Ms. Chou said DRB will consider expansion to additional schools.