MyRichUncle, was a student lending brand of MRU Holdings, Inc. It had many web 2.0 characteristics with regards to design and functionality and all processes are handled online.
The company had more than $350 Million in loans. Unlike other student loan companies, MyRichUncle had a variety of innovative products such as the PrePrime student loan product where a student can get a loan with a co-signor and the FAFSA Assistant, which simplified the Financial Aid form process.
On February 9, 2009, MRU Holdings filed for Chapter 7 bankruptcy and suspended all its operations.