Knowledge from the Wharton:
Klein: The value proposition for alumni or individual investors is threefold. Firstly, it’s the financial return: it’s a competitive financial return relative to other investment products of similar risk. Secondly, we have the social return, since investors are given the opportunity to help lower the cost of education for students at their alma mater. And for every new alumni investor that comes to the table and for every new student borrower that comes to the table, there will be another child that will get the chance to study for a year at the African School for Excellence, or there will be more funding put towards the financial literacy programs in local communities. Participation drives our social mission and that’s very powerful. The third thing I’d say is that the alumni and other individual investors who participate are able to plug into a community of top tier talent.
Klein: Good question. A lot of people pay lip service to community. There are many online communities that are ubiquitous but not very valuable. It’s important that CommonBond continues building a meaningful community that people Eureka payday loan no credi checks no bank account want to belong to. We look to help our community build real connections in the real world, person-to-person. We’ve spent a lot of time creating environments for students, investors and forward-thinking professionals to come together under one roof, meet and connect.
You will find lots of samples of people within our CommonBond family relations just who began getting members of the city and get was able to push the elite jobs forward. Instance, one pupil met your head of business purchases from the Western Express on a incidents. American Display is the woman dream team. Following this meeting, the brand new executive managed to put-up numerous interview on her also it ends up she would-be taking a full-time employment within Western Show whenever she students. Other MBA scholar with a-start-upwards business stumbled on one of the situations and you will satisfied good journalist during the Businessweek. Businessweek shielded their providers roughly 14 days adopting the meeting. She typed excitingly to help you united states in the a message, ‘Thank-you, this was all on account of CommonBond.’
We feel of our selves much more than simply students financing organization. We envision ourselves to-be a company you to definitely reflects the near future of funds. We need to be much more than an excellent commoditized credit product therefore we should do more than simply reduce the costs to be a student. The people helps children optimize the greatest range.
We thought alumni facts offices at different institutions tends to be concerned regarding the offering
Klein: We think it’s best to talk with everybody. So while we’re talking directly to students, we don’t want to lose sight of the fact that there are a number of different stakeholders out there, including admissions offices, financial aid offices and alumni affairs offices. We are not officially affiliated in any way, but we think it’s important to build positive relationships with them.
With regards to alumni offices, honestly the reaction to it design is a little blended. There’s two camps as you are able to fall under. A person is a good territorial go camping where alumni workplaces believe you will find a great finite size on pie. There clearly was another go camping that takes the view that there’s an ever growing cake. We end up in the latter go camping and now we accept that all of our design is engage a complete swath regarding alumni who are not currently involved with college issues. All of our model can bring men and women group into the bend since the there can be a monetary return element of it.