In less than three months, more than 3 million students across the country will graduate from college and graduate programs, carrying with them a newly-signed degree and over $40 billion in student loan debt, according to the Department of Education.
NEWTON, Mass. (BusinessWire EON) March 14, 2007 --
In less than three months, more than 3 million students across the
country will graduate from college and graduate programs, carrying with
them a newly-signed degree and over $40 billion in student loan debt,
according to the Department of Education.
To help students and their families make the best decision for
consolidating federal student loans, SimpleTuition, Inc. today made
available significant new features to its online loan comparison
solution. Using SimpleTuition.com,
students and parents can now enter and compare any federal
student loan consolidation offer that has been presented to them
from other sources by simply answering a few basic questions about the
loan offer.
Borrowers are then able to see how the loan compares with others from
over 25 leading lenders, helping students and parents dramatically
narrow their consolidation choices by comparing lenders to make a more
informed decision. Additionally, at SimpleTuition.com
borrowers can clearly see the pros
and cons of consolidation options –
ultimately helping them to better understand and determine which loan
option is right for their particular financial need.
Most students are aware that consolidating their loans can drastically
lower interest rates and help make the payments more manageable by
potentially lowering the monthly payment substantially. Upon graduation,
many will hustle to search for consolidation options that ensure fixed
lower rates. But, in a time of haste to start a new job, find a first
apartment, or prepare for more education, many students won’t
find the best consolidation option – in part
because they simply do not devote the time to researching and comparing
all of the available options.
“The last thing on many graduates’
minds is paying back student loans. Over the course of four years or
more, students wind up with many student loans, each with different
interest rates and repayment options. Getting these loans paid back and
on-time can be a confusing and costly prospect,”
said Kevin Walker, president and CEO of SimpleTuition.
“Federal consolidation is one way to lock in
an interest rate, and make the monthly payment amount and schedule more
manageable. To ensure students make the best informed choice for their
personal financial situation, SimpleTuition.com
offers the most accurate information from our lending partners and
presents this data in an easy to understand, side-by-side comparison
format.”
Additional new features to SimpleTuition.com
in this release include:
-
A personalized view of the pros
and cons of consolidation so borrowers can see if consolidation is
right for them before being presented with a list of loans to choose
from;
-
Overall improvements to the data entry forms for improved usability;
-
A comprehensive new site glossary for better understanding of the site
content;
-
A deferment tab in the details provided for each loan so borrowers can
see the impact of selecting full deferment, interest only payments, or
immediate repayment.
Users can sort results by monthly payment, total cost of the loan,
number of payments, first payment due date and APR, as well as compare
by lender, loan type, fund disbursement, credit sensitivity, minimum and
maximum loan amounts, repayment options and borrower benefits.
SimpleTuition currently
offers research and comparison information for many student loan types
including Private,
PLUS, Stafford, GradPLUS,
Federal
Consolidation loans and Private
Consolidation. With direct links to the financial institution’s
online application where available, the entire process can be completed
online or via a toll free call. To ensure the objectivity and accuracy
SimpleTuition is not a lender.
About SimpleTuition, Inc.
Founded in 2005, SimpleTuition is dedicated to helping students and
parents make sense of education financing options. Recently featured as
one of Fast Company’s Top 12 Web 2.0
sites, SimpleTuition offers the leading independent and objective
solution for researching and comparing private, PLUS, Stafford,
GradPLUS, Federal Consolidation and Private Consolidation loans. The
company currently offers over 50 student loan options from over 25 top
lenders. SimpleTuition is headquartered in Newton, Massachusetts and is
funded by Atlas Venture, IDG Ventures Boston and North Hill Ventures.
For more information visit www.SimpleTuition.com.
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Negotiations tips that can help you arrange with your creditors
from equityloansecrets on Aug 6, 2007
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Here are some debt negotiations tips that can help you arrange with your creditors.
1. You may request for agreements with your creditor to pay your bills in installments or settle for a much lower cost. Make sure that you get a copy of the agreement
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