SimpleFi Partners with Credible to Help Alleviate Student Loan Debt
As Student Loan Debt Nears $1.4 Trillion, SimpleFi Offers Low Interest, High Approval Refinancing for Graduates
PALO ALTO, Calif., Oct. 6, 2015 /PRNewswire/ -- SimpleFi, a leader in providing responsible financial opportunity to everyone, today announced it has partnered with Credible, the independent multi-lender marketplace for private student loans and student loan refinancing. Through this partnership, borrowers can now use Credible's marketplace to learn how much student loan debt can be reduced by refinancing through SimpleFi.
"Student loan debt affects more than 40 million Americans. Credible seeks to empower these borrowers to take control of their student loans by providing them with choice, better information and simplicity of process," said Stephen Dash, Founder & CEO of Credible. "We're excited to have SimpleFi as one of our vetted lending partners."
In addition to being available on Credible's marketplace, SimpleFi's Education Debt Refinancing Program is also available through employers as an employer-sponsored financial wellness benefit. With more than 70 percent of college graduates accumulating student loan debt - at an average of $35,051[1] - employers are facing higher demand for debt refinancing and other financial wellness perks. In fact, 40 percent of employees are looking to their employer for help in achieving financial security through employee benefits[2].
"Entering the workforce can be intimidating, especially for someone burdened with student loan debt," said Adam Potter, co-founder and president of SimpleFi. "Refinancing can often help lower rates and payments, and ultimately save the consumer a lot of money. SimpleFi is committed to offering a solution that alleviates debt and encourages financial stability, and we are thrilled to be a part of Credible's marketplace to empower graduates to make well-informed financial decisions."
While SimpleFi's Education Debt Refinancing Program features significant cost savings, the flexible no-hassle repayment terms and high approval rates offer more than just access to affordable funds. The company also provides one-on-one financial coaching to educate consumers on how to get out of debt faster and optimize credit. SimpleFi establishes a relationship with each borrower, and provides a clear path to improve finances and credit for those who do not qualify.
Initially offered as an invitation-only, limited release, SimpleFi student loan refinancing is currently available to those with a FICO score of 720 and above across the country at fixed rates from 4.99 percent to 6.99 percent.
For additional information on SimpleFi student loan refinancing, visit www.simplefinow.com/studentloans. For additional information on Credible, visit www.credible.com.
ABOUT SIMPLEFI:
SimpleFi's mission is to financially empower everyone through highly accessible and affordable credit tailored to personal needs, and combined with one-on-one financial coaching and advocacy. The company and its founders believe that access to financial opportunity at fair rates is crucial to a healthy workplace and national economy. Whether it is a student who is burdened with education loans, an employee who is faced with unexpected expenses, or a member of the military trying to improve credit, SimpleFi is committed to the economic good of alleviating personal debt. Based in Palo Alto, California, SimpleFi is privately held and backed by social impact investors and strategic institutional partners. For more information visit www.simplefinow.com.
[1] Edvisors.com
[2] MetLife 12th Annual U.S. Employee Benefit Trends Study
SOURCE SimpleFi
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