What’s Juno?

Juno pools student loan borrowers together to negotiate lower rates. They’re an alternative to the traditional student loan.  

Usually, lending is done on an individual basis. Lenders market to a borrower then he or she applies to receive a rate and terms.

Juno is different. Juno creates groups of potential borrowers. They then use this group of borrowers to negotiate a lower rate with a group discount from lenders. Borrowers get lower interest rates while lenders get access to a large group of customers without having to do additional work. 

The Juno Advantage

Juno’s approach works like most other group discount deals. It’s like wholesale (Costco or Sam’s Club). If a company can make a really large sale, it can give a better deal. In this case, think of the lender as Costco or Sam’s Club. They can give a better on loans when people buy in bulk. 

In addition, Juno actively negotiates for lower rates. So not only do they capitalize on the bulk discount. They come to the table looking to make a great deal. 

Juno is an excellent tool for anyone who wants to find the lowest possible rate.

What We Think

We think Juno is one of the best resources to pay for higher ed. They’re one of our favorite alternatives to the traditional student loan. Nonetheless, there a few things to keep in mind. 

As an undergrad seeking a new loan you’ll still want to consider federal options. For the majority of students, federal protections such as income driven repayment and loan forgiveness make federal loans a better choice. Granted you may be able to skip origination fees or find a lower rate on private loans if you have great credit. We still recommend looking for federal first.

Those of us looking to refinance should definitely check out what Juno has to offer. Their service saves you the time and effort of shopping around and lets you negotiate with lenders (which is pretty much impossible on your own).