BOSTON, March 27, 2012 /PRNewswire/ -- SimpleTuition, Inc., the leading provider of interactive tools that help students save on college-related expenses, today announced that PayBackSmarter.com (http://www.paybacksmarter.com/), the smarter way to understand student loan repayment options, has already become a valuable resource for 40+ schools in its first 3 weeks after launch. The free site is being utilized in exit counseling, recent graduate mailings and in repayment resource centers at schools across the country.
"We're very pleased that our simple, one page approach to understanding repayment has had such strong initial interest from the financial aid community," said Patrick Kandianis, SimpleTuition's Co-Founder. "We received a lot of great feedback from financial aid directors and student loan counselors while in our beta launch and much of that input helped us create a better product. In fact, this support helps keep it free for schools and students."
A user can view the estimated federal debt for a specific school or take a few moments to enter their actual federal loan amounts and see the variety of repayment options, including Income Based Repayment and federal consolidation, among others. If they are carrying private loan debt, that can be added in as well and all can be viewed with simple graphs and tables on the same page.
"PayBackSmarter is an excellent tool that provides a side-by-side comparison of federal student loan repayment options so students may evaluate and select the repayment plan that is best for them," said Dr. Ron Radney, Director of Financial Aid & Scholarships, California State University-Bakersfield.
"One feature that has also seen great interest is that PayBackSmarter.com allows the user to see the significant impact of proactively making small additional payments on their loans. Even $10 extra per month can help users get ahead of their debt and pay off their loans months or even years sooner," added Kandianis.
About SimpleTuition, Inc.
Since its launch in 2006, SimpleTuition has helped more than 10 million families afford higher education. SimpleTuition.com features tips, advice, interactive tools and deals that ensure students plan better for college costs, pay less for college-related expenses, and be smarter about how they manage and pay back their student loans. Named Best Financial Services Site by Kiplinger's, SimpleTuition is headquartered in Boston, Mass., and is funded by Atlas Venture, Flybridge Capital Partners, and North Hill Ventures. For more information, visit SimpleTuition.com.
SOURCE SimpleTuition, Inc.