All articles tagged Student Loans (7)

The Pros and Cons of Refinancing Student Loan Debt — a Conversation with John Hsieh, VP of Product at SoFi

The Pros and Cons of Refinancing Student Loan Debt — a Conversation with John Hsieh, VP of Product at SoFi

Student debt is no longer just a small piece of the American financial market. While private and government-issued student loans are now the second highest consumer debt category in the US — trailing only mortgage debt — more than 10% of all loans are currently 90 or more days delinquent and lenders issue over $30 billion in new loans each quarter. More than 44 million borrowers collectively owe $1.48 trillion in student loan debt in the US alone. The average student in the... read more »

A Survey Conducted by Credible Shows Students and Parents Struggle to Understand Higher-Education Loans

A Survey Conducted by Credible Shows Students and Parents Struggle to Understand Higher-Education Loans

In a Nutshell: Stephen Dash founded Credible when he saw American students burdened by their student loan debt — something not common in his native Australia. Credible, now one of the web’s leading loan marketplaces, connects borrowers with lenders to find the best possible interest rates on student and personal loans. Credible recently conducted a quiz of 1,000 students, or parents of students, who hold student loan debt to gauge their proficiency on the subject. The quiz results... read more »

$18K+ Average Savings: Credible’s Student Loan Marketplace Empowers Borrowers with a Variety of Rate Options

$18K+ Average Savings: Credible’s Student Loan Marketplace Empowers Borrowers with a Variety of Rate Options

In a Nutshell: With millions of Americans carrying student loan balances in the tens of thousands of dollars, the need for manageable repayment options continues to grow. Credible.com, the online student loan lender marketplace, works to help users understand their student loan options, including loan origination and refinancing. By providing access to an entire network of vetted lenders, Credible has helped over 130,000 users, with those who refinance through Credible into a loan with... read more »

SALT Teams Up With 300+ Partner Organizations to Teach Young Adults the Financial Responsibility of Student Loans

SALT Teams Up With 300+ Partner Organizations to Teach Young Adults the Financial Responsibility of Student Loans

In a Nutshell: The SALT Program, introduced by the American Student Assistance (ASA) organization in 2011, is a nationwide effort to educate future, current, and former students on how to pay for college in a financially responsible way. The SALT Program partners with more than 300 organizations, including schools, colleges, universities, and nonprofit groups, to bring financial education right into the classroom. The program boasts many successes, including one statistic that found... read more »

Student Loan Hero — Helping Shrink Student Loan Debt with Customized Repayment Options

Student Loan Hero — Helping Shrink Student Loan Debt with Customized Repayment Options

In a Nutshell: Andy Josuweit created Student Loan Hero to help make sense of the student loan repayment process. With nearly 70 percent of students graduating with some amount of debt, the average hovering close to $30,000, Josuweit wanted to make it easy to organize and create payment plans for every student loan. With Student Loan Hero, recent graduates can make sense of their loan bills and actually work toward getting out from under crippling college debt. // Standing in his... read more »

With Your Interests in Mind, CommonBond Funds the Education of Students From All Walks of Life

With Your Interests in Mind, CommonBond Funds the Education of Students From All Walks of Life

In a Nutshell: CommonBond refinances student loans in a simple online process. Customer-friendly and community-minded, the team at CommonBond assists students across the nation and around the globe. This company is more than just a transaction. Using a one-for-one model, for every loan it funds, CommonBond will fund a child's education in Ghana. This Social Promise sets CommonBond apart from the typical lender and underscores the company's overall commitment to funding education... read more »

Grads Can Save Nearly $19K with SoFi: The First Marketplace Lender to Offer Student Loan Refinancing

Grads Can Save Nearly $19K with SoFi: The First Marketplace Lender to Offer Student Loan Refinancing

In a nutshell: Graduates who used student loans to fund their education face an average of $33,000 in resulting debt. Throw in a graduate school degree and the debt can easily exceed $100,000. Furthermore, many of those grads pay interest rates of up to 7 percent or higher on their loans. SoFi, a leading marketplace lender, stepped in to alleviate some of that financial strain by establishing the first student loan refinancing model in 2011. With variable rates as low as 2.14 percent,... read more »