ROLLING MEADOWS, Ill., Nov. 3, 2015 /PRNewswire/ -- Iontuition.com, the leading education-fintech company, today announced the results of a new survey that shows many student loan borrowers don't know their interest rate or who their loan servicer is, among other important details.
The October 2015 iontuition™ survey found that too many student loan borrowers are ill-equipped when it comes to managing the numerous and unfamiliar repayment options available to them. With more than 40 million Americans possessing student debt, the lack of information impacts millions of often-young borrowers with limited personal finance experience.
Click here for a survey Infographic.
Selected survey results show:
"With the complexity surrounding student loan repayment, it's essential to provide financial literacy resources and counseling that will prepare borrowers for the high-stakes decisions they must make while pursuing a college education," said Ceannate Advisory Board member Governor John McKernan, Jr., who also serves as Chair of the Advisory Board on Education and the Workforce for the U.S. Chamber of Commerce Foundation.
"Our survey shows that there is a need for specialized assistance and tools to manage student loans – from borrowing to paying off," said Balaji "Raj" Rajan, CEO of Ceannate Corp., parent company of Iontuition, Inc., "We are experts in working with student borrowers – and today offer iontuition.com so that colleges and employers can help their key assets, their people, get on the road to financial wellness."
The iontuition.com portal helps users run interest-saving and payment-reducing scenarios before connecting to their Servicer via iontuition's expert student loan counselors. The site also functions as a monitoring service, driving users to proactively engage during crucial changes to their student loans.
Employers and schools should visit iontuition.com/Partnership or call 888.853.8323 to find out how to provide access to iontuition.com for their employees or students.
Student borrowers and their families should visit iontuition.com/Registration to link their account to their employer, school or subscribe to their own account.
A member of the Ceannate companies, Iontuition, Inc. shows student borrowers how to save money or lower their payments through personalized repayment planning. A built-in college search engine helps students achieve ROI on their higher education by matching them to their best fit college based on tuition and future earnings. Other features include a dashboard that updates all student loans—federal and private, expert student loan counselors on standby via chat and phone, and a student loan monitoring service. Learn more at www.iontuition.com or download the mobile app, available for both Apple and Android devices.
All trademarks and product names are the property of their respective companies.