AI-Powered Lever App Tackles Student Loan Servicer Issues, Empowering Borrowers

AI-Powered Solution for Student Loan Management

AI Unlimited Group Inc. (OTCQB: AIUG) has developed an innovative AI-driven application called Lever, designed to address the ongoing challenges faced by student loan borrowers. This development comes in response to recent findings by the Consumer Financial Protection Bureau (CFPB), which highlight significant issues with student loan servicers 1

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CFPB Report Reveals Systemic Issues

The CFPB Supervisory Highlights Special Edition: Student Lending (Winter 2024) exposes critical concerns in the student loan servicing industry. These issues include:

1. Failure to provide accurate information about repayment plans, forgiveness programs, and annual recertification requirements.
2. Mismanagement of income-driven repayment (IDR) enrollments, leading to missed opportunities for borrowers to reduce payments or avoid delinquencies 2

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Lever App: An AI-Driven Solution

The Lever App, developed by AI Unlimited Group, aims to empower borrowers by simplifying loan management and ensuring they are matched with the most suitable repayment programs. The platform utilizes advanced AI capabilities to guide users through a three-step process:

1. Discover: Effortlessly locate and manage existing student loans and servicers.
2. Match: Identify the best federal repayment programs tailored to individual financial needs.
3. Enroll: Automate enrollment into recommended programs and ensure compliance with annual recertification requirements 1

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Additional Features and Benefits

The Lever App goes beyond basic loan management by incorporating:

• Payment round-up features
• Credit score tracking
• Tools to help borrowers make incremental progress toward financial independence

These features are designed to help users stay compliant with loan program requirements while working towards their financial goals 2

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Addressing a Widespread Problem

With over 43 million federal student loan borrowers in the United States, the challenges in repayment plan management can lead to significant financial consequences. The Lever App aims to bridge this gap by:

• Eliminating guesswork in loan management
• Helping borrowers unlock savings opportunities
• Minimizing interest accrual
• Avoiding administrative errors that can cost time and money 2

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Industry Perspective

Trent McKendrick, CEO of AI Unlimited Group, commented on the significance of their solution: "The CFPB report reflects the reality that millions of borrowers are underserved by existing loan servicer systems. We see this same challenge across all segments of consumer financial services -- from student loans to credit card issuers -- where administrative delays and mismanagement cost borrowers time, money, and financial progress. Lever was designed to address these failures, empowering borrowers with clear, actionable tools to take control of their financial obligations" 1

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