BOSTON, Oct. 23, 2012 /PRNewswire/ -- SimpleTuition, Inc., the leading provider of tips, advice and interactive tools that help students save on college-related expenses, announced today the launch of its new Private Loan Refinance Center to help graduates source loans from the leading lenders in the market and find a more manageable repayment plan for their student loans. The service displays a selection of loan refinance options, as well as helpful resources and common sense discussion about the Pros and Cons of the effects of refinancing. Borrowers take away a better understanding of the process of applying for a new loan, as well as tips and insight on ways to best prepare for applications.
"Over the past couple of years SimpleTuition has introduced several new products that help graduates better manage their student debt and pay back their student loans," said Patrick Kandianis, co-founder of SimpleTuition. "Our PayBackSmarter.com, SmarterBucks rewards, and SmarterBank checking were all designed to help graduates deal with the debt they have and pay it back faster. The addition of the Private Loan Refinance Center will further help those individuals looking to better manage their borrowing and monthly payment challenges."
Recent reports from several government agencies and researchers indicate that new origination of private student loans has decreased, but a significant number of graduates still face challenges successfully managing their repayment because they borrowed too much or from multiple lenders. While the Department of Education offers federal student loan consolidation, private loan refinance options were limited in recent years. Now those private borrowers looking to lower their monthly payment once again have that opportunity. Like private loans, however, rates and borrower benefits vary by lender, so it's important for borrowers to compare their options.
"SimpleTuition is working with the financial aid community, and our college and university partners to help graduates better handle their debt, avoid default, and reduce their debt faster," Kandianis added. "Now we can help them avoid default by lowering their payments through a successful refinancing and consolidation of their student loan debt, and then help pay down that debt faster through our SmarterBucks rewards program. Now is the time to focus attention on helping graduates pro-actively manage their debt because it helps everyone involved: institutions, lenders, and borrowers."
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.