A.M. Money
A.M. Money is a Chicago-based fintech that originated no-cosigner, credit-check-free private student loans for low and middle-income undergraduates using alternative-data underwriting on academic metrics. As of 2024, the company has pivoted from direct lending to a referral model routing borrowers to partner lenders via CUSelect and Credible.
- Company typePrivate
- Founded2019
- HeadquartersChicago, United States
- Headcount1–10
- GTM typeB2C
- OfferingServices
What A.M. Money does
A.M. Money, operating as Chicago Student Loans By A.M. Money, is a Chicago-based fintech founded in 2017 by Daniel Rogers and Jeffrey Wright that provided no-cosigner private student loans to undergraduate students from low and middle-income backgrounds. Its core technology was a proprietary alternative-data underwriting model that evaluated applicants on educational metrics — GPA, institution quality, and credits earned — rather than traditional credit scores or co-signer profiles, addressing a borrower segment most mainstream lenders reject. The product was priced at a 7.95% interest rate (8.34%–8.87% APR) with income-based repayment, and was supported by a $1 million loan loss reserve from the McCormick Foundation and Chicago Community Trust to de-risk the portfolio.
The company generated revenue primarily through interest income on originated loans, supplemented by referral fees from partnerships with CUSelect (refinancing through hundreds of non-profit credit unions) and Credible (lender marketplace). Go-to-market was community-led: partnerships with After School Matters, Academy Group, College Greenlight, and UtmostU drove top-of-funnel workshops, while a Talent Network of 4,000+ students and graduates (98% students of color, 84% first-generation) was paired with employer partners (Accenture, CDW, CPS, Eligo Energy) and an algorithmic resume review tool to deliver employability outcomes beyond the loan. Funding includes a $3.5M seed round led by Lightbank (2020), a Google for Startups Black Founders Fund award (2020), and the McCormick loan loss reserve (2021).
As of 2024, the direct origination product is no longer accepting new applications, and A.M. Money has pivoted to a referral and lead-generation model directing students to partner lenders — a structurally smaller, lower-margin business than its origination core. The company continues operating from Chicago with a 1–10 person team.
A.M. Money firmographics
Firmographics- Name
- A.M. Money
- Legal name
- A.M. Money, Inc.
- Website
- https://chicagostudentloans.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- A.M. Money is a Chicago-based fintech that originated no-cosigner, credit-check-free private student loans for low and middle-income undergraduates using alternative-data underwriting on academic metrics. As of 2024, the company has pivoted from direct lending to a referral model routing borrowers to partner lenders via CUSelect and Credible.
- Ownership category
- akta.pro rank
A.M. Money industry classification
Industry- Product category
- Private Student Lending
- NAICS
- Credit Intermediation and Related Activities (522)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Private Student Loans (Undergraduate & Graduate) (FSAKAEAB)
- akta.pro secondary industries
- In-School Tuition & Fee Financing (Short-term/Bridge) (FSAKAEAG), Student Loan Marketplace Lending (FSAKAHAE)
Keywords
Where A.M. Money is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
A.M. Money business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Student Loan Interest: A.M. Money earns interest income on student loans it originates. Current rates are set at 7.95% with APR ranging from 8.34% to 8.87%.
- Referral Fees - CUSelect: A.M. Money receives referral fees when customers are matched to CUSelect for refinancing or private student loans through credit unions.
- Referral Fees - Credible: Referral fees from Credible marketplace when customers compare and select other private student loan options through the platform.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | No-cosigner private student loans for undergraduate students |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels5 records
A.M. Money product offering
Product offeringCore offering
A.M. Money is a Chicago-based fintech that originated private student loans for undergraduate students without requiring a co-signer or credit check, instead using an alternative underwriting model based on GPA, institution quality, and credits earned. The company also facilitates student loan refinancing through partnerships with CUSelect and Credible, and supports borrowers with a Talent Network for job placement, an algorithmic resume review tool, and TrustPlus financial coaching.
Product overview
A.M. Money is a student loan fintech company offering private student loans to college students without requiring co-signers or traditional credit checks. Its core product is the No-Cosigner Student Loan, which evaluates applicants based on academic performance (GPA) and institutional quality. A.M. Money has expanded beyond direct lending into a platform model, providing refinancing comparison tools through CUSelect and Credible partners, a Talent Network connecting students to employers, an algorithmic resume review tool, and TrustPlus financial coaching. The company also offers informational guides on federal student loan repayment, forgiveness programs, and refinancing through its blog and resource center.
Differentiator
Problem solved
Functional benefit
Products and services
- No-Cosigner Student Loan Private student loan product that evaluates applicants based on GPA, institution quality, and credits earned instead of credit history or co-signer status. Offered income-based repayment. No longer accepting new applications as of 2024.
- CUSelect Refinance Loans
Quantifiable outcome
- 72% of graduates find full-time employment within 6 months (vs. 70% at Northwestern, 48% at UIUC)
- +2 more outcomes
Companies that use A.M. Money
Customer profileNamed customers5 records
Segments2 records
Ideal customer profiles2 records
A.M. Money technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
A.M. Money partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and minor.
- Neighborhood Trust Financial PartnerscorePartnership to provide TrustPlus financial coaching app to recent college graduates as part of job onboarding package. Neighborhood Trust is a nonprofit social enterprise empowering workers with financial health services.
- CUSelectcorePartnership with CUSelect to offer student loans for in-school private student loans and refinancing through hundreds of non-profit credit unions across the country. A.M. Money receives referral fees.
- CredibleminorReferral partnership where Credible marketplace helps students compare top lenders for private student loans. A.M. Money receives referral fees.
- After School MattersminorChicago-based nonprofit offering internships and apprenticeships to Chicago students. Co-hosted affordability workshops, Q&A sessions, and financial aid presentations. Hosted ASM students as social media interns.
- Academy GroupminorNon-profit partner in career development program. Collaborated on career boot camp and financial wellness workshops for students.
- College GreenlightminorNon-profit partner in career development program focused on helping students navigate college and career transitions.
- UtmostUminorOrganization working with students who stopped-out near graduation. A.M. Money provides financing while UtmostU provides counseling and assistance with non-academic expenses in a pilot program.
- AccentureminorEmployer partner in Talent Network, connecting A.M. Money students with internship and entry-level job opportunities.
- CDWminorEmployer partner in Talent Network sourcing diverse college talent for internships and entry-level positions.
- Eligo Energy LLCminorEmployer partner that hired A.M. Money graduate Tholang Mota as Analyst. Actively recruiting from the talent network.
- Capital OneminorCo-presented A.M. Money's first Data Hackathon focused on educational datasets used in underwriting model.
- Polsky Center for Entrepreneurship & InnovationminorNorthwestern's entrepreneurship center co-presented the Data Hackathon exploring educational data for underwriting.
Scale indicators8 records
Recent moves6 records
Expansion highlights5 records
A.M. Money competitors and assessment
Company assessmentDirect peers
- Ascent Funding: Ascent Funding offers private student loans including outcomes-based no-cosigner options that underwrite using school, program, and GPA rather than credit history. Directly comparable to A.M. Money's alternative-data underwriting model and target borrower.
- College Ave Student Loans: College Ave is a private student loan lender offering undergraduate, graduate, and refinance products to college students and families. Comparable to A.M. Money in product category and target market, though A.M. Money differentiates on no-cosigner / no-credit-check underwriting.
- Earnest: Earnest (owned by Navient/NuWay) provides private student loans and student loan refinancing with a precision-pricing underwriting approach that considers education and career data. Overlaps with A.M. Money's data-driven underwriting philosophy and target demographic.
- Splash Financial: Splash Financial is a student loan refinancing marketplace that partners with credit unions and lenders to offer refinancing products. Comparable to A.M. Money's CUSelect-based refinance referral flow and platform-style approach.
- CommonBond: CommonBond originated private student loans with a social-impact mission focused on access, similar in mission profile to A.M. Money. After pivoting away from origination, it represents an instructive parallel for A.M. Money's own pivot.
Emerging players
- MPower Financing: MPower Financing provides no-cosigner student loans to high-credit-potential students, with a focus on international and DACA students. Comparable mission (access for underserved borrowers) and underwriting approach (no cosigner, no credit score) to A.M. Money.
- Juno (by Gravy / LeverEdge): Juno negotiates group-rate private student loans and refinancing for its member base using collective bargaining power. Comparable student-borrower target market and fintech-led approach, though uses group negotiation rather than alternative underwriting.
Broad incumbents
- SoFi: SoFi is a large online personal finance platform offering private student loans, student loan refinancing, and a broad suite of financial products. Represents the scaled incumbent benchmark for what A.M. Money could grow into, while competing for the same refinancing flow.
- Discover Student Loans: Discover Student Loans is an established private student loan product offered by Discover Financial, a large bank. Comparable product category but broader scale and traditional underwriting versus A.M. Money's no-cosigner alternative-data model.
Others
- Credible: Credible is a multi-lender marketplace that allows borrowers to compare private student loan and refinancing rates. A.M. Money both competes for borrowers via this channel and earns referral fees from it, making it both a partner and a partial competitor.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
A.M. Money social profiles
Digital presenceA.M. Money financial estimates
Financial estimateRevenue estimate
Valuation estimate
A.M. Money leadership team
Management profileNumber of profiles
Profiles4 records
A.M. Money funding detail
Funding detailFunding overview
Funding rounds3 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
A.M. Money M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about A.M. Money
What does A.M. Money do?
A.M. Money is a Chicago-based fintech that originated private student loans for undergraduate students without requiring a co-signer or credit check, instead using an alternative underwriting model based on GPA, institution quality, and credits earned. The company also facilitates student loan refinancing through partnerships with CUSelect and Credible, and supports borrowers with a Talent Network for job placement, an algorithmic resume review tool, and TrustPlus financial coaching.
Is A.M. Money a public or private company?
A.M. Money is a private company. It is classified as venture growth investor backed and is currently operating.
When was A.M. Money founded?
A.M. Money was founded in 2019. It employs 1 to 10 people.
Where is A.M. Money based?
A.M. Money is headquartered in Chicago, United States, in the North America region.
How does A.M. Money make money?
Three revenue lines are on record. Student Loan Interest is the primary driver. The others are referral Fees - CUSelect and referral Fees - Credible.
Who are A.M. Money's main competitors?
Direct peers on record are Ascent Funding, College Ave Student Loans, Earnest, Splash Financial and CommonBond. Emerging players are MPower Financing and Juno (by Gravy / LeverEdge). Broad incumbents are SoFi and Discover Student Loans. Credible is listed as an others.
Does A.M. Money have an API?
No public API is recorded for A.M. Money.
What industry is A.M. Money in?
A.M. Money's product category is Private Student Lending. Its primary akta.pro industry code is FSAKAEAB, Private Student Loans (Undergraduate & Graduate), with a secondary code of FSAKAEAG, In-School Tuition & Fee Financing (Short-term/Bridge). Its NAICS code is 522 and its SIC code is 6141.