Spelling: not quite a virtue
among student lenders

P2P lending has hit the college crowd with the launch of Fynanz, which aims at crowdsourcing student loans.

Only students in Florida and New York can apply for a loan, but Fynanz expects to expand to the entire country later this year, according to TechCrunch. Anyone can sign up to become a lender.

Unlike other P2P lending sites, Fynanz guarantees each loan.
The site takes into account credit scores, grade point averages and what school the student attends. The site also assesses the student's tuition and other expenses to make sure they do not borrow more than they need.

Competitive crowdsourced lending sites include Prosper.com, which focuses — more broadly — on personal and small business lending.