Confused by Hoards of Student Loan Consolidation Options?

New Features at SimpleTuition.com Let Borrowers Compare Any Federal Student Loan Consolidation Offer
NEWTON, Mass. (BusinessWire EON) March 15, 2007 -- In less than three months, more than 3 million students across the country will graduate from college and graduate programs, carrying with them a newly-signed degree and over $40 billion in student loan debt, according to the Department of Education
To help students and their families make the best decision for consolidating federal student loans, SimpleTuition, Inc. today made available significant new features to its online loan comparison solution. Using SimpleTuition.com, students and parents can now enter and compare any federal student loan consolidation offer that has been presented to them from other sources by simply answering a few basic questions about the loan offer.
Borrowers are then able to see how the loan compares with others from over 25 leading lenders, helping students and parents dramatically narrow their consolidation choices by comparing lenders to make a more informed decision. Additionally, at SimpleTuition.com borrowers can clearly see the pros and cons of consolidation options – ultimately helping them to better understand and determine which loan option is right for their particular financial need.
Most students are aware that consolidating their loans can drastically lower interest rates and help make the payments more manageable by potentially lowering the monthly payment substantially. Upon graduation, many will hustle to search for consolidation options that ensure fixed lower rates. But, in a time of haste to start a new job, find a first apartment, or prepare for more education, many students won’t find the best consolidation option – in part because they simply do not devote the time to researching and comparing all of the available options.
“The last thing on many graduates’ minds is paying back student loans. Over the course of four years or more, students wind up with many student loans, each with different interest rates and repayment options. Getting these loans paid back and on-time can be a confusing and costly prospect,” said Kevin Walker, president and CEO of SimpleTuition. “Federal consolidation is one way to lock in an interest rate, and make the monthly payment amount and schedule more manageable. To ensure students make the best informed choice for their personal financial situation, SimpleTuition.com offers the most accurate information from our lending partners and presents this data in an easy to understand, side-by-side comparison format.”