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BundleBee Update 4

May 6, 2021

Good news everyone! BundleBee has selected the best lender for the Hive!

Lender competition was fierce, with last second meetings for offers and counter-offers. We’re very excited about the Deal we negotiated and expect it to be very advantageous for our Hive members.

We’re waiting for the lawyers to finish up some documents and then we’ll present the Deal to the Hive, ideally in the next couple weeks, and definitely by June 1st.

As always, let us know if you have any questions - hive@bundlebee.org.

Dinan & Jarron


BundleBee Update 3.2

April 27, 2021

Mini-update

Negotiations are done and we’ve selected the best lender for the Hive! We’re very excited about the deal we negotiated and expect it to be very advantageous for our Hive members, although we can’t share the exact details yet.

We’re waiting for the lawyers to finish up some documents and then we’ll present the finalized deal to the Hive, ideally in the next couple weeks, and definitely before June 1st.

As always, shoot an email to hive@bundlebee.org if you have any questions.

Dinan & Jarron


BundleBee Update 3.1

April 9, 2021

Mini-update

Good news! Negotiations are going smoothly and quickly. We’re expecting negotiations to wrap up by next Friday, April 16. After that, we’ll have to execute some documents, do some backend work, and then we’ll present the lender with the best offer to the Hive!

As always, shoot an email to hive@bundlebee.org if you have any questions.

Dinan & Jarron


BundleBee Update 3

March 30, 2021

This is update number 3 of the student loan negotiation process. Progress is on track and going well. We kicked off negotiations with lenders last week and are in ongoing discussions.

Things are still in flux but we know how annoying rolling decisions are, so here’s our current schedule:

  • March 22 - Negotiations kicked off
  • April 30 - Top two offers selected as semi-finalists
  • May 28 - Best offer selected
  • June 30 - BundleBee negotiated offer available for signup

Note that these are conservative dates; if anything, BundleBee will wrap up negotiations sooner rather than later.

If you’re an international student, please keep reading. Otherwise, that’s it for the general update!

International students: Unfortunately, the majority of the lenders with whom we are working are not able to support international student loans. However, we want to support our users who happen to not have a US passport. In order to accomplish this we are setting up a mini hive for any/all of our international users. If you are considered an international student for lending purposes please update your profile so that we can add you to our mini hive. If you don’t know what group you fall into, feel free to reach out via email and we will be happy to help!

Let us know if you have any questions - hive@bundlebee.org.

Dinan & Jarron


BundleBee Update 2.1

March 17, 2021

We hope your application process is going well. We are on schedule for loan negotiations. The next update/email will give you a more specific timeline of events on the BundleBee calendar.

This week we are formalizing our request for proposal (RFP) to provide to lenders. This will allow lenders to start competing for your loans. We expect to get lender offers back by the end of April and should be able to provide you with the preferred lender who gave the Hive the best offer by the end of June.

Make sure you check back in for weekly updates. You can also subscribe to these more frequent updates in your BundleBee profile if you want to receive email updates.

If you haven’t already, please input your estimated credit score in your profile as soon as possible so we can build our distribution for lenders. To be perfectly clear, we won’t share your personal information with lenders, but the anonymized distribution of our Hive’s scores will help us to evaluate lender offers.

Let us know if you have any questions - hive@bundlebee.org.

Dinan & Jarron


BundleBee Update 2

March 10, 2021

This has been a great month! We’ve been busy bees in the background working on all the aspects of getting BundleBee fully up and buzzing. Our main focus in the past month has been building relationships with lenders and preparing a robust backend to host lender negotiations.

Lender outreach:

We have connected with 5 lenders who are interested in competing for your loans with a few more in the pipeline. We are drafting our official Request For Proposal which we will send to lenders within the next month. In order to make sure we get the Hive the best offer possible, we need your self-estimated credit score. Having this information will give us the ability to push lenders to give us the best offer for all of you. Don’t know your credit score? Co-founder Jarron is here to help!

Please log into your BundleBee account here (https://www.bundlebee.org/profile) to input your estimated score. Please don’t put in a random number or fake score, because lenders will make offers based on the Hive’s scores and your personal offer will be based off of your actual credit score.

To be perfectly clear, we won’t share your personal information with lenders, but the anonymized distribution of our Hive’s scores will help us to evaluate lender offers.

BundleBee overall development:

We’ve been selected as finalists in the MIT $100K Accelerate entrepreneurship competition (under the name Harvest). This gives us access to an amazing network of resources of some of the brightest and most experienced minds in the world, who will help us structure negotiations for maximum Hive benefit and will help us reach more lenders.

Going forward:

Finally, since we are getting closer to loan time we are going to do more frequent website updates (weekly) to keep everyone in the loop. You can also subscribe to these more frequent updates in your BundleBee profile if you want to receive email updates.

Dinan & Jarron


BundleBee Update 1

January 31, 2021

As a preface, we are still in the early/mid stages of the law school application cycle, and in the very early stages of BundleBee development. Everything I say below may change depending on how things develop, and on your feedback. We are trying to limit the number of emails that we clog your inbox with, so we will only be sending monthly updates. If you want more detail feel free to check here on the website, where we will provide more frequent updates.

The Process:

The plan is to reach out to as many lenders as possible to maximize competition for the Hive’s loans. Once we’ve drummed up enough lenders, BundleBee will set a flat percent fee for lenders before starting negotiations. This will alleviate conflict-of-interest issues between BundleBee and all of you.

Negotiations will consist of several distinct rounds in which BundleBee collects bids from participating lenders. The offer that BundleBee judges to be best for students will be used to start the following round. At the end of negotiations we’ll have a final offer, which we’ll send out to the Hive.

Lender outreach:

We started reaching out to lenders last week. We’re following a four phase plan to reach out to lenders, gradually working our way up to the largest lenders. Initial conversations have been enlightening and promising. We will provide more concrete information as soon as we can. We expect this to ramp up in the coming months and future updates will likely focus on this section.

BundleBee overall development:

We applied to and were accepted into the Harvard i-Lab Spring Venture Program and the President’s Innovation Challenge. The program is fairly rigorous with mandatory programming, which will be great for us. We’re pretty self-motivated as a founding team, but being in an incubator brings the pressure to progress to a new level. I’m particularly looking forward to support/guidance from mentors with industry experience.

We’ve also applied to and are waiting to hear back from an MIT incubator and the Harvard Law Entrepreneurship Project, which provides free legal advice to startups.

Going forward:

We have more lender calls scheduled. Our focus of work will be on establishing concrete details for lender negotiations and on building tools to determine optimum loan details for the overall Hive. If you haven’t filled out the loan preference form, please do so here.

Dinan & Jarron


BundleBee Launch

December 18, 2020

Hi all! We're hard at work launching BundleBee so there isn't much to see on this page yet.

In the near future, this page will contain regular, detailed updates on the BundleBee negotiation process and will also show the number of people in the Hive.

In the meantime...

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