Leverage the nation's most comprehensive education data resource using only a loan applicant's Social Security number*

Equifax's education data is sourced from the National Student Clearinghouse®. The National Student Clearinghouse is a nonprofit and non-governmental organization used by 3,600 participating colleges and universities.

Alternative data, including education data, can provide lenders with a more holistic view of an applicant's current and future loan repayment reliability. Layering alternative data with a traditional credit score can help financial institutions make more informed loan and credit decisions

 

Higher levels of education can correlate with better loan repayment rates.

28% On average, borrowers with verified higher education degrees are 28 percent less likely to miss multiple loan payments when compared to those without degrees.1

3.6 Million Americans earned higher education credentials from 2021 - 2022.2

*Inputs required vary by channel. Consumer consent and permissible purpose required for every Verification of Education request.
¹Equifax 2023 Internal Data Study based on credit data and data from The Work Number database over a twelve-month period. Study was conducted on a population of non-prime borrowers who obtained unsecured personal loans ranging from $3,000-$40,000.
²National Student Clearinghouse, 2023.