PREDATORY LENDER IN DISGUISE
Pathrise/Edly is a PREDATORY Loan company. They hide behind a thin disguise of 'career mentors' promising to help you get a job, but in actuality they are preying on desperate people and locking them in to absurd loans. HERE'S THEIR TRICK: While you think you're working with Pathrise, you're actually signing a loan with a DIFFERENT COMPANY. Whatever guarantees or whatever Pathrise tells you that you don't owe is meaningless. It has no bearing on the contract you sign with EDLY the loan company. There is even wording in the contract that says that regardless of what you're outcome with Pathrise is, YOU STILL OWE EDLY the loan balance NO MATTER WHAT. This loan starts at a minimum of $20,000. However, with their high interest and FEES, the amount you owe grows by $500/month. They will deceptively tell you that you don't need to start paying the loan back right away, however they are actually deferring the loan and STILL CHARGING FEES OF $500/month STARTING THE DAY YOU SIGN THE CONTRACT. My son was unfortunately naive and desperate and fell prey to their tactics. The 'services' they provide can easily be found for free elsewhere (check your local library or community group) and are not at all worth the cost even if they did find him a job. WARNING: YOU WILL NOT BE ABLE TO GET OUT OF THIS LOAN After reading through the loan document my son signed, I can't believe it's not criminal. In the loan paperwork, you waive your rights to any legal recourse, and there are clauses to take away all of you ability to fight it. The loan contract accounts for every contingency. After reading the loan terms, it's very clear that they know exactly what they're doing and THIS IS THEIR BUSINESS MODEL. Not only does my son still not have the promised 'high paying' job that they sold him on, but now he's had to take on a second job as a grocery store cashier to pay for the Pathrise/Edly loan. STAY AWAY FAKE REVIEWS An additional word of caution: I have seen MANY people having the exact same issue. Please be incredibly cautious about any good reviews you see for them. I have no doubt that they spam sites like Trustpilot with fake positive reviews.