This Wilmington student loan startup raised $30 million - Technical.ly Delaware

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Apr. 24, 2017 10:30 am

This Wilmington student loan startup raised $30 million

On the heels of its raise, College Ave Student Loans is launching a series of webinars to provide students and parents with financial advice, strategies and tips.
College Ave Student Loans CEO Joe DePaulo hopes the Naked Financial Truth Digital Tour will make the financial road to college less complicated for families.

College Ave Student Loans CEO Joe DePaulo hopes the Naked Financial Truth Digital Tour will make the financial road to college less complicated for families.

(Photo by Flickr user Team Czech Republic)

Applying for college and finding the right student loan to meet your financial needs can be nerve-wracking. College Ave Student Loans, a venture-backed student loan startup based in Wilmington, is launching the Naked Financial Truth Digital Tour to provide financial advice, strategies and tips for parents and students.

The series of free webinars, which begins April 25 at 7 p.m., will be hosted by The Naked Roommate author Harlan Cohen.

Register for the digital tour here.

Cohen said the webinars will make the transition into college easier for families.

“College is a major investment, and many people need financial assistance and help navigating their options,” Cohen said in a statement. “Through the Naked Financial Truth Digital Tour, I’m excited to share strategies and tips to help make the financial transitions in college easier.”

College Ave Student Loans CEO Joe DePaulo added that the information provided in the webinars will allow both parents and students to focus on the future, rather than be burdened with financial strains.

“Through our series of webinars and videos, our goal is to give parents and students a toolbox of practical information, real strategies and helpful tips to make informed decisions when paying for higher education,” he said. “We want to make the financial road to college less complicated and easier to understand, so parents and students can focus on the bright future ahead.”

DePaulo, who was formerly the Executive Vice President of Banking and Finance at Sallie Mae, teamed up with fellow Sallie Mae executive Tim Staley to start College Ave Student Loans in late 2014. Since launching, the lending company, which now has 38 full time employees, has secured more than $60 million in investment capital. During their latest round of funding, announced last week, College Ave Student Loans secured $30 million in funding, from investors such as Comcast Ventures and Leading Edge Ventures.

(The company is not to be confused with LendEDU, that Y Combinator company founded by UD grads that moved to Hoboken, but still has a strong Delaware tie: it’s only hired other UD grads.)

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DePaulo said the money secured will be used to expand into new market segments. The company currently provides personalized funding options to students at more than 2,500 college campuses across the country.

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