Responding to Changes in the Student Loan Industry, SimpleTuition.com Expands its Offerings to Become the Industry's Most Comprehensive Resource for Student Loan Information
Newton, MA, May 14, 2007 - With tremendous scrutiny on the student loan industry, SimpleTuition, Inc. is making it easier than ever for parents and students to make informed education borrowing decisions. Starting today, SimpleTuition has significantly expanded the list of lenders and loans available for consideration via its student loan comparison web site, SimpleTuition.com.
"The lesson from the recent student loan scandals should be that borrowers owe it to themselves to shop around," explained Kevin Walker, co-founder and CEO of SimpleTuition. "We want SimpleTuition to be part of a borrower's larger quest for college financing. Whether you select a loan via SimpleTuition or from another source, this is an important decision and you should do your homework."
SimpleTuition is on its way to becoming the industry standard for evaluating student loan options. At SimpleTuition.com, parents and students can research more than 100 loan products from nearly 50 leading lenders. Borrowers can compare loan options on an 'apples to apples' basis, manipulate numbers, change assumptions, sort by loan attributes - all in real-time. To access the expanded list of loans, site visitors simply select "Expanded List" in the "View Loans From" feature at the top of the loan results page.
"For more than two years, SimpleTuition has been pioneering interactive tools to aid students and parents in understanding their student loan options," added Walker. "We are proud of our mission to be an independent and comprehensive source of student loan data - and with the addition of dozens of new loan products, we can add 'comprehensive' to that list of descriptors."
SimpleTuition is not a lender, and unlike other online student loan resources, SimpleTuition is not sponsored or owned by a single lender or financial services company. Similar to other comparison shopping and search sites, the company may receive a transaction or referral fee if any of its many Partner products is selected. SimpleTuition clearly discloses Partner products, and its expanded model includes dozens of non-partners for a wider choice. The service is free to users.
Colleges and universities can also work with SimpleTuition to present compliant and arm's-length loan information to their families. Whether a school wants to present three loan options or two hundred and three, SimpleTuition can help.
Loan results can be sorted by monthly payment, total cost of loan, number of payments, first payment due date and APR - and results contain detailed information about loan pricing, borrower benefits and other attributes.
About SimpleTuition, Inc.
Founded in 2005, SimpleTuition is dedicated to helping students and parents make sense of education financing options. Recently featured as one of Fast Company's Top 12 Web 2.0 sites, SimpleTuition offers the leading independent and interactive solution for researching and comparing private, PLUS, Stafford, GradPLUS and Federal Consolidation loans. SimpleTuition is headquartered in Newton, Massachusetts and is funded by Atlas Venture, IDG Ventures Boston and North Hill Ventures. For more information, visit www.SimpleTuition.com.
