Summary:
Trust in loans and refinancing (of any kind, home, student loans etc.) is important - they're scary areas for not just student, but their family as well. This is due to several reasons: poor education of personal finance in our education system, predatory nature of lending services (who's telling the truth and how can I trust them? Is this a scam?), an archaic industry that hasn't caught up with how millenials gather information all contribute to this.

If CommonBond can build trust, especially early in a student's secondary education studies, we'll be able to have both a larger market share and work with students for the entirety of their loan.

Our customer:

Our customers (currently) are current or already graduated students, both undergraduate and graduate (+ MBA).

What are our customer's needs?

Having a trusted partner in the convulated market of loans to provide both a better loan experience and be a source of advice + information. This can be done by having human centric service (access to an actual customer service represantative instead of email/automated messaging) and guiding students through the entire process so they feel empowered and knowledgable about where they are and how to get to where they need to be.

Ideas and goals

Our goal needs to be two pronged:
a. increase brand trust
b. increase market reach.

a. increase brand trust
Good information and product speaks for itself. In order to increase brand trust, creating an educational module with short, well thought out content will go a long way to helping students find us as both a source of tangible information, and ultimately a go to spot for their loan needs. We can also partner with estabished online education platforms for creating content on personal finance and how loans, including student loans work.

Ideas and goals continued

b. increase market reach

More effective use of social media, especially Instagram with weekly campaigns. In these campaigns, we can utilize important, small nuggets of information that are useful, true, and helpful. This fits into CommonBond's larger strategy of becoming a trusted source of information and help for students -- it will also increase Commonbond's social media presence, especially on the social media platform used by 59% of U.S. Millenials.¹

Looking into the future

Opportunity after student loans are paid off

By building a relationship with our customers, we can be their one stop shop for any of their loan needs, at any life stage. Whether they're buying a car, a home, starting a business, we can work with each customer throughout their journey, from student to adulthood, and provide them with the best loan service possible.