The revelation might carry new scrutiny to LendEDU, which began in 2014 and describes itself as a market for personal pupil loans, pupil mortgage refinancing, bank cards and different monetary merchandise. LendEDU’s studies have additionally been featured in lots of publications, together with CNBC, The Wall Street Journal and Bloomberg.
LendEDU ran ads on Student Loan Report’s web site however by no means disclosed that the 2 firms had been affiliated.
“There certainly was an advertisement for LendEDU on the Student Loan Report, but it wasn’t a huge part of our business,” Matherson informed CNBC.
According to SEMrush, a web based analysis firm, studentloans.web has had 7,800 natural guests to this point in April.
“The site is not heavily monetized, the plan was not to heavily market any products for LendEDU,” Matherson mentioned. “Our long term vision for the Student Loan Report was to build an informative news site.”
Mark Kantrowitz, a well-known pupil mortgage professional, mentioned he suspected there may be a connection between the 2 firms— LendEDU and Student Loan Report — as a result of each claimed a statistical diploma of precision from their surveys he mentioned was inconsistent with their pattern sizes.
“It stood out as something both sites do, but no one else does,” Kantrowitz mentioned. “The use of two decimal points of precision also suggested that some of their surveys were complete fabrications.”
“They’ve been good at pushing their surveys as news, and apparently not many people asked: Who are these guys?,” Kantrowitz mentioned.
References to Drew Cloud have been scrubbed from the Student Loan Report website.
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