Online sites offering to help students get loans

[cashlenders]

Some college students and their parents caught in the credit crunch are turning to so-called peer-to-peer lenders for student loans.

One web site, Fynanz (FY'-nahnz), matches students with individual investors who bid to back the loans. The site reports it has gotten applications for about $180,000 in loans in just the past few days.

Another site, GreenNote, will launch tomorrow. It will promote loan servicing between the student and their family or friends.

The head of the Web site finaid.org, Mark Kantrowitz, says he sees alumni and others "using 1 of these sites as a way to provide loans for current students."

The Internet sites are similar to Prosper and Zopa, that match up people needing money with strangers willing to back their loans.