Any experience with GreenNote loans?

Parents Forum
1

<p>Do any families out there have students using GreenNote loans to set up loans with family/friends or others?
<a href=“https://www.greennote.com/[/url]”>https://www.greennote.com/&lt;/a&gt;&lt;/p&gt;

<p>My mom once gave us an article on it. And I see reference online
[How</a> to borrow from a stranger - MSN Money](<a href=“http://articles.moneycentral.msn.com/Banking/BetterBanking/how-to-borrow-from-a-stranger.aspx]How”>http://articles.moneycentral.msn.com/Banking/BetterBanking/how-to-borrow-from-a-stranger.aspx)</p>

<p>Still I wonder if it is really practical? Possible scam?</p>

2

<p>It looks like the official term for this sort of thing is “peer-to-peer lending”.</p>

3

<p>bumping the thread up for another try…</p>

4

<p>I met one of the GreenNote founders a few years ago, and he seemed like a nice, sincere guy who wanted to do something interesting that would be helpful to students. I don’t know anyone who has tried it, but it looks like a reasonable model. There used to be a few competitors, but they seem to have faded away.</p>