SimpleTuition Closes 2012 With Record Achievements
Launched SmarterBucks Rewards Program to Pay Down Student Loans, Acquired ValoreBooks and Updated Tools
BOSTON, Jan. 22, 2013 /PRNewswire/ -- SimpleTuition, Inc., the leading provider of tips, advice and interactive tools that help students save on college-related expenses, today shared a look back at 2012 including the launch of its innovative SmarterBucks® program to help pay down any student loan and the acquisition of ValoreBooks to offer discounted textbooks. Throughout the year, SimpleTuition has helped more than 12 million students save on college-related expenses.
"We are more than just student loans – we are all about preparing financially for college and figuring out how to pay back college debt," said Kevin Walker co-founder and CEO of SimpleTuition. "We are encouraged by our accomplishments this year because it means we have helped millions of students and families understand the financial obligations of paying for college."
In April, SimpleTuition launched SmarterBucks (http://www.smarterbucks.com/), a revolutionary rewards program that helps students pay back their loans faster and for less by automatically turning SmarterBucks rewards into extra payments to the principal of any student loan. At the SmarterBucks Marketplace (http://www.smarterbucks.com/marketplace), members can earn between 2%-16% back in SmarterBucks rewards. SmarterBank (http://www.smarterbank.com/), a new online checking account, provides an additional opportunity to earn SmarterBucks rewards on everyday purchases with its SmarterBank Visa® Debit card. SmarterBucks membership is growing quickly – doubling each month – and the SmarterBucks team is constantly working to develop new ways members can earn rewards and get out of debt faster and for less.
Also this year, SimpleTuition acquired ValoreBooks (http://www.valorebooks.com/), an online marketplace which offers huge discounts on new and used textbooks as well as rentals. The ValoreBooks marketplace now boasts over 18 million titles from 20,000 sellers, allowing customers to find the lowest prices. Rental revenue this past season grew 346% over the previous year as consumer demand for rentals continues to increase.
SimpleTuition also launched two new tools this year. PayBackSmarter (http://www.paybacksmarter.com/) shows graduates how to find a student loan repayment plan that works for their personal financial situation, including lowering monthly payments, paying back loans quicker and consolidating federal loans. Repayment calculations for standard, graduated, extended, federal loan consolidation and income-based repayment options can be compared. It is a valuable resource used by over 100 schools.
SimpleTuition consolidated its position as the largest private student loan comparison (http://www.simpletuition.com/student_loans_home) resource in 2012 by helping millions of students and their parents make informed decisions about how much to borrow – and from which lender. The company is aggressively expanding its student loan decision service with the launch of the private loan refinance center. Further, the Private Loan Refinance Center (http://privateloanrefinance.simpletuition.com/) helps graduates source private loans and find a manageable repayment plan for their private student loans. The tool displays loan refinance options, helpful resources and common sense discussion about the Pros and Cons of the effects of refinancing.
In addition, SimpleTuition has updated and enhanced some of its other tools including:
- College Cost Adjuster (http://adjuster.simpletuition.com/start_here) to customize financial aid awards and understand the total financial impact including student loan debt
- TuitionCoach (http://www.tuitioncoach.com/collegecost/index.jsp) to help families maximize the aid they receive from school
- Student Deals (www.simpletuition.com/deals) for discounts on the products and services students need to survive
About SimpleTuition, Inc.
SimpleTuition helps more than 10 million students a year afford higher education. The company provides tips, advice, and interactive tools 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. In addition to SimpleTuition.com, the company manages ValoreBooks, SmarterBucks Rewards, and SmarterBank. 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.
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