--Interactive student loan selection and comparison on www.usnews.com --
Washington, D.C. - April 16, 2008 - U.S.News & World Report, the nation's leading source of news, analysis, and service journalism, today announced the launch of a new online student loan comparison and shopping tool for its College and Grad sections at www.usnews.com.
"Each year, U.S. News helps students and parents navigate the choices in managing their college decision," said Brian Kelly, U.S.News & World Report's editor. "One of the most critical parts of the college decision is, of course, the 'how?' and 'how much?' of financing. With this interactive loan comparison tool from SimpleTuition, we can help empower students and families by providing them with information on dozens of loan options. Just as our college ranking guide helps students make informed decisions about college, the student loan comparison tool assists families with their financing choices."
With the 2008 credit crunch unfolding, student lending options have decreased significantly. As lenders pull back and government aid fails to match the rising cost of tuition, students are struggling to find funding for college and graduate degrees. The U.S.News & World Report loan comparison tool is a resource for students and families looking for lending opportunities, and will provide information on active lenders and their offering terms for federal and private student loans.
"The student lending process is tricky this year," said Kevin Walker, cofounder and CEO of SimpleTuition Inc. "Choosing loans was already confusing to students and parents, and now the credit crunch will cause families to have to scramble around to look for additional borrowing options, either because lenders have left the business or because private student loan lenders have made their borrowing standards harder to meet. We are pleased to be able to help U.S.News & World Report's readers and website users make efficient and informed decisions despite market turmoil."
The U.S.News & World Report student loan comparison tool, accessible at www.usnews.com, will guide student loan shoppers first toward federal student loans. The tool will also provide information on education financing products, including the federal Stafford, PLUS and Graduate PLUS loans, as well as private student loans. Users will be asked a few questions about the amount they want to borrow, where they go to school, and when they need the money. Borrowers can then interact with results from dozens of lenders by changing the loan amount, exploring the impact of discounts offered by some lenders, sorting criteria, such as monthly payments, APR, and total cost of loan, and delving deeply into a point-by-point comparison of loan structures.
About U.S.News & World Report
Founded in 1933, the weekly national news magazine U.S.News & World Report is devoted to investigative journalism and reporting, and to analyzing national and international affairs, politics, business, health, science, technology, and social trends. Through its annual rankings of America's Best Colleges, America's Best Graduate Schools, and America's Best Hospitals, and its News You Can UseŽ brand of journalism, U.S. News has earned a reputation as the leading provider of service news and information that improves the quality of life of its readers. The U.S. News website (www.usnews.com) extends that brand promise and delivers the best, most accurate information online, organized in an easily accessible way.
About SimpleTuition Inc.
Founded in 2005, SimpleTuition is the leading student loan comparison site for personalized student loan research. SimpleTuition is dedicated to helping students and parents make sense of education financing options. The company offers the leading independent and interactive solution for researching and comparing multiple Stafford, private, PLUS, and GradPLUS loans from dozens of lenders. The site has been recently featured on Kiplinger's Best List as the best financial services website for student loans and as one of Fast Company's Top Web 2.0 sites. The company also holds awards for exceptional website development from the Interactive Media Council, Web Marketing Association, and the International Academy of Visual Arts. SimpleTuition is headquartered in Newton, Mass., and is funded by Atlas Venture, IDG Ventures Boston, and North Hill Ventures. For more information, visit www.SimpleTuition.com.
Posted 04/17/08 to www.NASFAA.org. Posting of press releases is done as a service to Members and does not imply endorsement or support by NASFAA. NASFAA does not review this information for content or accuracy.
