Lenders marketplace to acquire Student Loan Hero
One of the challenges for millennial would-be homeowners is their student debt burden and a leading lending platform is acquiring a business to help with that.
LendingTree which provides access to lenders of mortgages, credit cards, and other consumer credit, is acquiring Student Loan Hero in a $60 million deal.
The business helps consumers manage their student debt through tools, resources, and personalized advice.
“LendingTree and Student Loan Hero share a common goal of providing consumers with the tools and resources to better understand their personal finances and make smarter financial decisions. We're excited to welcome Student Loan Hero to the LendingTree team and are confident this will enable LendingTree to expand our reach in the student loan space," explained Doug Lebda, founder and CEO of LendingTree.
The deal is expected to close in the third quarter of 2018 subject to third party consents and other customary closing conditions.
