With the Student Loan Industry Under Scrutiny, SimpleTuition Helps Parents, Students and Financial Aid Officers Objectively Compare Loan Options

With the cost of higher education continuing to skyrocket and student loan interest rates at a record high, making education affordable has taken center stage in the 110th Congress.

With the cost of higher education continuing to skyrocket and student loan interest rates at a record high, making education affordable has taken center stage in the 110^th Congress.

Parents and students need to feel confident that they're comparing all of their options when searching for college loans

Combine the rising costs with increased pressure on schools to offer the most accurate and complete loan option information to families and/or students, and it is no surprise that Senator Ted Kennedy’s Student Loan Sunshine Act, a bill that – if passed – will require all higher education institutions that accept federal funds to publicly report rates on all loans made to students through arrangements with preferred lenders, is creating buzz in Washington. With so much attention being given to the student loan industry, it is clear that parents, students and financial aid officers need a transparent and more objective way to research and review student loan options.

SimpleTuition, Inc. (www.simpletuition.com), a company dedicated to helping students and parents make sense of education financing choices, is the leading, online objective comparison resource available for student loans and student loan consolidation options. SimpleTuition helps parents, students and financial aid administrators accurately compare, analyze, and apply for education financing.

Since its launch in May 2006, SimpleTuition has helped thousands of families determine the best loans for their needs. The company offers over 50 loan products from more than 25 lenders and is working with dozens of leading U.S. colleges to bring objective loan information on dozens of additional loan products to students and parents.

“Parents and students need to feel confident that they’re comparing all of their options when searching for college loans,” said Kevin Walker, co-founder and CEO of SimpleTuition. “That’s where SimpleTuition can help. We are an objective resource that provides lender and loan information in a simple format that parents and students can easily understand in order to make informed loan choices that are best for their unique financial situation.”

With the cost of higher education continuing to rise, students are choosing not to attend their first choice school, or even worse, not attending college at all as they fear the high costs keep the dream of going to college out of reach. A recent survey conducted by UCLA shows that one-third of college-bound students did not attend their first choice school because of affordability. This year alone, an estimated 10.1 million students will require federal student loans, according to the Department of Education, and each student brings his/her own unique – and sometimes complex – family financial situation.

The borrowing process does not have to be a burdensome one. SimpleTuition currently offers research and comparison information for many student loan types including Private, PLUS, Stafford, GradPLUS, Federal Consolidation loans and Private consolidation from 20 lenders. Results can be sorted by monthly payment, total cost of the loan, number of payments, first payment due date and APR – and are shown in random order, ensuring no lender ‘preferential’ treatment. With direct links to the financial institution’s online application, 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 is the leading company to offer an independent and objective solution for researching and comparing private, PLUS, Stafford, GradPLUS, federal consolidation and private consolidation loans. SimpleTuition is headquartered in Boston, 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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