Those who believe SAT scores don't matter after college acceptance letters come in may want to think again.
A company called Upstart is using a variety of unconventional factors to determine if consumers are eligible for lending. The San Francisco start-up is targeting millennials between the ages of 22 and 34 who may have had a hard time qualifying for loans.
Upstart was started by ex-Google employees with the belief that consumers with certain characteristics will be more responsible if they see debt as an obligation. It analyzes factors such grade point average, SAT score, college attended and even college majors.
"These variables, they are extremely predictive on whether someone is likely to pay a loan," Paul Gu, co-founder and head of product said in an interview with CNBC's "Power Lunch."
"We think every person we're helping with our loans is another person we're getting out of credit card debt."