TFC Title Loans' Scholarship for Financial Innovation is a $2,000 grant to be gifted to a student enrolled in an accredited university who is studying Financial Mathematics, Business, Finance, or Economics. TFC Title Loans hopes this will encourage students to use their creativity to imagine new ways of revolutionizing the lending industry. The scholarship application will be due by August 1st for the distribution of funds for Fall Semester of 2017.
The parts of the population who have high credit scores don't have trouble finding assistance when they need funding. Sadly, the same cannot be said for those who have a less-than-perfect score. The sub-prime lending industry has provided resources for those people; however, there have always been downsides to sub-prime lending. Lenders use higher interest rates to make up for the risk posed by a sub-prime borrower and to cover any loss of revenue if that borrower was to default on the loan. There are issues for both the consumer and the lender. We believe that these are solvable with up-and-coming financial experts joining the conversation.
Students who wish to apply will be asked to write an essay in fewer than 1,000 words that proposes a new financial product that could lessen the negative consequences of sub-prime lending (https://www.tfctitleloans.com/tfc-title-loans-scholarship/). This business model could be web-based or otherwise but the model itself should include the perspectives of both the lender and the consumer.
TFC Title Loans believes that this generation's current students have the potential to change the future of the sub-prime lending industry so that it better benefits the consumer and imposes less risk to the lender.
About TFC Title Loans:
TFC Title Loans was founded in 1994, making it California's oldest and most established title loan lender. Headquartered in downtown Los Angeles, TFC is a licensed lender that provides loans to residents all throughout California, New Mexico, and Arizona. With extensive experience in the title loan industry, TFC Title Loans is passionate about helping those in financial need obtain the assistance necessary to get them back on their feet.
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SOURCE TFC Title Loans