Online lending is a new financial trend that's catching on fast with tech savvy Millennials. As a result, student loan companies like SoFi and CommonBond are expanding their offerings to a variety of new products. So are these new deals worth taking advantage of? SoFi has recently moved into the mortgage market, offering new and millennial friendly rates. Their average borrowers are around 31 years old, have a college degree and a credit score of over 700. Online lending companies are evolving quickly to hold onto their student loan customers and meet their changing financial needs. If you're already comfortable with an online lender, you'll have easy access to interesting new product offers. Emerging lenders can provide agility and speed alongside competitive prices and technology platforms that traditional lenders can't yet match. However, the traditional lending option still holds firm, providing you with liquidity and scale that's been proven over time. Growth is definitely on the agenda for many online lenders. SoFi has voiced ambitions of a potential IPO, while CommonBond has future aspirations to move into asset management services. For other established online lending companies like LendingClub, partnerships with traditional banks are providing extra reach and a larger user base. So it looks like the future of lending will increasingly be found online, along with some even more personalized deals.