March 7, 2014
SimpleTuition was Co-Founded in 2005 by Kevin Walker (CEO) and Patrick Kandianis (CSO). The company has received a total funding of $26 Mn through investors Atlas Venture, Flybridge Capital Partners, North Hill Ventures, Atlas Venture, Flybridge Capital Partners, Atlas Venture, Flybridge Capital Partners, North Hill Ventures.
Based in Boston, Massachusetts SimpleTuition compares student loans offered by a variety of private and federal lenders and offers advice about them. They offer tips, advice, interactive tools and deals to ensure students plan better for the cost of college, pay less for college-related expenses, and are smarter about how they manage and pay back their student loans.
This video gives you an overview of their platform:
Students can apply for consolidation programs or other repayment plans that will help them manage their financial situation and debt. Some of the most basic student loan payments plans include:
Standard Plan: With this plan, students must pay a fixed amount every month for a fixed period of time. The time period can be up to 10 years, or even as little as 5 years.
Extended Repayment: Under this program, a borrower may extend the payment plan by 25 years, which automatically lowers the monthly repayment.
Income Based Repayment: As per the title, a student’s repayment will depend upon the level of income he earns.