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Microloan for Education: How College Students Can Benefit from Lendee

By Nicolas Moore | March 3, 2022

As of 2016, about 64% of college students run out of money during one semester of school, or by the time they graduate college. Due to a multitude of financial hardships that college students deal with, they are typically being ‘broke’ or do not have access to much money. 

Friends are always asking each other to borrow money and guaranteeing they will pay it back. This becomes difficult when that friend does not pay you back and asking would make the friendship awkward. 

Thankfully for many students, there are many apps out there that can help with the process of lending money between friends, and keeping friendships together.

Borrowing Options


Kiva is a website that helps set up accounts for people who need to borrow money and allows others to invest in their funds. Each borrower sets up their account with the specific reason that they need to borrow money online and investors can choose if their cause is worthy of their money or not. 

Kiva’s loans start with a minimum of $1,000 and allow multiple people to invest into one fund so that no one is investing the full amount on their own unless they choose to. This allows multiple people interested in investing in someone’s cause to do so, which will help them out in large. 

There are people with a multitude of reasons that are asking to invest. The idea of Kiva is that people need help and since they write a small biography of what they need, they can help you understand where your money is going. 

The one drawback to Kiva is that their loans only go as low as $1,000, so that becomes an issue if you need something lower than that. 


Lendingtree is another option for microlending. 

Lendingtree specializes in small loans that range from $1,000 to $50,000, offering them a range of options. These loans fall under their personal loan category since their other categories typically require a different kind of loan with a larger line of credit.

With LendingTree, you apply for the kind of loan you want and put your information into the system. Once this is done, multiple lenders start giving you instant offers so you can shop around and choose the best one for you. This gives any borrower the control to choose whatever loan they choose, making it beneficial for them since they can choose. 

One problem with Lendingtree is that just like Kiva, the lowest amount they will finance on personal loans is $1,000. This is an issue because, with microlending, some people need to borrow less than that, making these sites not beneficial to them. 


Lendee is another site that offers peer-to-peer microlending for investors and borrowers

A great thing about using Lendee is that they offer microlending, but they use a different qualifying system than most sites. They have the “lendee score” which combines the borrower’s FICO score, their recent income and expense ratio from their bank account, as well as other qualifying factors that help boost their score. That score does help determine if they are reliable and easy to reach, so if they miss a payment they cannot just disappear. 

Lendee also helps out the borrower because their dashboard will have multiple investors that are ready to invest, and those investors will have criteria on their profile to see if you are the intended borrower you are looking for. Similar to Kiva, you will explain what you need the money for, which will help the investor to decide if they should give you money or not. 

Lendee is unique in that it can help people get loans for almost any amount, such as a small loan of $300 for some course books or anything. With Lendee, you can borrow a microloan for amounts that people could not borrow from anywhere else, such as a bank, or other microlenders like Kiva and Lendingtree. These typical loans will not allow a student to borrow the funds for just books, simply because the price would be too low. With Lendee, it would be possible to pull a small loan for this and benefit the student. 

Lendee offers the ability for people to secure low-risk investments and for borrowers to receive the small loans they might need. 

Borrowing Has Never Been Easier

Borrowing money is always a difficult and awkward process when it comes to asking friends. 

If you and your friends start using Lendee, you can easily borrow money from each other and set up terms to pay it back. If you just got $100 and you were going to save it, but your friend needs to borrow it, you can set up a plan for them to pay it back in the Lendee app. You would have the ability to set up fees for borrowing, late fees if they miss a payment and the length of the term that determines when they will pay you. You can even charge no fees if you want, it is completely up to you as the investor. 

This presents the unique opportunity to lend friends money while also gaining some profit from it later. Kiva and Lendingtree are specifically offering larger loans, which is difficult when students may only need a small loan. Only an app such as Lendee could create this opportunity for you. 

How Lendee Can Benefit Students

Students can always need financial help, making it difficult for them to get their basic needs met.

Microlending could help students with buying books, groceries, and other school supplies that they might need when living on campus and going to school.

Lending money to people going to schools in other countries can be very helpful as well because the U.S. dollar can stretch further in those places. Therefore, if someone invests $200 in America to someone elsewhere, that money might be worth so much more than that. Then, if the borrower pays back on time, the borrower got what they needed, and the investor profits. 

Lendee can be an app that benefits both parties in so many ways. 

Start Using Lendee Today

Lendee is a great peer-to-peer lending site that can help people get the money they need. 

Lendee is different than typical peer-to-peer lending sites in the fact that it uses its scoring system and allows people to connect and help each other out. This is the future of lending and how people will lend to each other. 

Check out Lendee’s resources today to get started.