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SimpleTuition Adds Discover Student Loans: Expands Student Loan Options for Students and Parents
NEWTON, Mass. (Business Wire EON) April 29, 2008 -- "As an innovator and driver of change in the financial services market, we saw an opportunity to provide families with easy and affordable solutions to fund school-related expenses," said Shrikant Dash, Vice President of Consumer Lending with Discover Financial Services. "We researched ways to reach out to students and parents who are seeking student loans and quickly realized that SimpleTuition would be a great resource because of its leadership in the online marketplace."
Discover provides families with affordable loan choices, including federal Stafford loans with zero fees, federal Parent PLUS and Grad PLUS loans with interest rate discounts, and private loans with zero fees and a 2% cash reward upon graduation. Discover works with schools to certify private loans and disburses funds directly through the school, so families only borrow as much as they truly need. And Discover's borrower benefits can help families save hundreds of dollars on the total cost of each loan.
"SimpleTuition is committed to offering families a choice when it comes to finding and selecting a student loan financing option," said Kevin Walker, CEO of SimpleTuition, Inc. "By partnering with Discover, we are able to help families make difficult financial decisions about student loans and offer them solutions that best fit their specific financial need."
SimpleTuition provides an online resource to help families compare, analyze and apply for student loans. Families can view and use an apples-to-apples comparison for Stafford, Parent PLUS, Grad PLUS, federal consolidation, and private loans. Results can be sorted by monthly payment, total cost of the loan, number of payments, first payment due date and APR, and results contain detailed information about loan pricing, borrower benefits and other attributes. SimpleTuition is not a lender.
About Discover Financial Services
Discover Financial Services (NYSE: DFS) is a leading credit card issuer and electronic payment services company with one of the most recognized brands in U.S. financial services. The company operates the Discover Card, America's cash rewards pioneer. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Its payments businesses consist of the Discover Network, with millions of merchant and cash access locations, and PULSE, one of the nation's leading ATM/debit networks. For more information, visit www.discoverfinancial.com or www.discoverstudentloans.com.
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.