Planning for College Expenses

Nancy and her husband started a 529 account to begin saving for their daughter's college expenses, but Nancy still felt it wasn't enough. The more she researched the cost of a college education, the more she realized she needed a back up plan if the family was to be prepared when their daughter graduated high school in three years.

Eliminating Credit Card Debt

The first order of business, thought Nancy, was to eliminate the family credit card debt. Nancy was skeptical that she could qualify for a traditional personal loan and was researching alternatives online when she came across an endorsement of Prosper.

"I was very leery at first and spent at least a week investigating Prosper," Nancy remembers. The more she looked into it, the more she realized that Prosper was not only "legit", but also an exciting new concept.

"Discovering Prosper made me think of the stories you hear about a child needing a kidney and suddenly there's this outpouring of help from all over the country," Nancy says. "Prosper is Americans helping Americans."

Nancy listed her first loan with Prosper eight months ago and was "shocked and amazed" when if fully funded. In the final day, "all of the sudden the bids started flying in", Nancy's loan was fully funded and she paid off her credit cards.

A Second Prosper Loan

When Nancy's daughter was diagnosed with a rare, but very correctable dental condition that wasn't covered by insurance, she immediately thought again of Prosper. Her second loan for $2,000 to pay for the surgery was listed at 26% and bid down to 9.95% in one day.

Nancy's daughter's surgery was a smashing success and Nancy is now a bona fide Prosper fan. "The service, the concept—everything about Prosper is great," she says. "Americans have a lot of wealth that can be used to help others in a personal way. Prosper makes that happen."