FORT WORTH, Texas--(BUSINESS WIRE)--RISE Credit, an online installment loan provider to non-prime consumers, announced today that it would continue to promote financial literacy through a scholarship program for full-time or part-time university students. RISE Credit is the largest product in a suite of innovative and responsible online credit solutions for non-prime consumers available through Elevate Credit (NYSE: ELVT).
To be eligible for the scholarship, students must complete an online financial literacy course that was developed in partnership with EverFi, a technology company that designs and develops educational software. For the second year in a row, the scholarship will award five scholarships to students who demonstrate a desire to improve their financial knowledge and educate others on personal finance. This year’s recipients will each receive $3,000 to help with higher education costs.
“We want to continue to make our financial literacy program available beyond RISE customers and equip students with the tools they need to achieve long-term financial success,” said Scott Greever, RISE General Manager. “Our goal is to help hardworking students as they begin their journey to achieve self-reliance.”
Designed for the millions of non-prime Americans who may not have access to traditional sources of credit, RISE not only provides access to credit, but its responsible lending features are also designed to help customers meet their immediate financial needs and improve their long-term financial futures. These features include fast credit approval, flexible loan terms, lower rates than other non-prime lenders, rates that can go down over time, credit bureau reporting, free credit score monitoring and financial literacy courses.
“Last year, hundreds of students across the country applied for the RISE Scholarship and were exposed to practical financial literacy courses that we hope laid the foundation for a brighter financial future. I applaud the RISE brand and all of our employees at Elevate for their continued work on improving financial literacy in America,” said Elevate CEO Jason Harvison.
Elevate (NYSE: ELVT), together with its bank partners, has originated $7.8 billion in non-prime credit to more than 2.4 million non-prime consumers to date and has saved its customers more than $6.1 billion versus the cost of payday loans. Its responsible, tech-enabled online credit solutions provide immediate relief to customers today and help them build a brighter financial future. The company is committed to rewarding borrowers’ good financial behavior with features like interest rates that can go down over time, free financial training and free credit monitoring. Elevate’s suite of groundbreaking credit products includes RISE, Elastic, Sunny and Today Card. For more information, please visit http://www.elevate.com.