Press releases

SimpleTuition and Savingforcollege Partner to Help Parents Determine the Best Way to Cover College Costs

Tuesday, May 29th 2007

Leading Online Resources Work Together to Help Families Plan and Assess College Funding Options

BOSTON (BusinessWire EON) May 29, 2007 -- SimpleTuition, Inc. (www.SimpleTuition.com) and Savingforcollege.com LLC (www.Savingforcollege.com) today announced a strategic partnership that enables families to prepare for college expenses with resources for both savings plans and loan options. Parents can now go to Savingforcollege.com and find independent and objective information about 529 and other college savings plans, as well as, student loan options through SimpleTuition, a company dedicated to helping students and parents make sense of education borrowing.

Despite efforts to plan for college expenses, parents typically save less than one-fourth of what is required to pay for college. For example, parents with children 14-17 years old anticipate having $12,000 saved for college while the cost of a four-year public education is closer to $60,000 over four years(1). And with tuition costs outpacing inflation, the cost of a college education has risen 35% over the last five years(2).

“Our mission is to help individuals and professional advisers better understand how to meet the challenge of paying higher education costs,” said Joseph Hurley, founder and CEO of Savingforcollege.com. “And when those costs aren’t met, SimpleTuition offers a simple way to compare multiple education loans and then choose the best loan option for your family’s financial situation. We’re pleased to be able to offer these resources to parents that visit Savingforcollege.com.”

Savingforcollege.com compiles and analyzes information about 529 plans and other ways to help parents’ best save for college. SimpleTuition’s comprehensive online resource helps parents and students research and choose education loans.

“Saving is really the best, most economical, most responsible way to pay for college,“ said Kevin Walker, CEO of SimpleTuition. “But these days, when it comes to covering tuition, borrowing frequently goes hand in hand with savings. We’re proud to have the chance to partner with Savingforcollege.com – the leading outlet for information on how to optimize saving for college. Our partnership will provide college bound parents a centralized resource to secure college financing.”

SimpleTuition currently offers research and comparison information for many student loan types including Private,PLUS, GradPLUS, Stafford and Federal Consolidation loans. With direct links to the financial institution’s online application where available, the entire process can be completed online or via a toll free call. Users can sort results by monthly payment, total cost of the loan, number of payments, first payment due date and APR, as well as compare by lender, loan type, fund disbursement, credit sensitivity, minimum and maximum loan amounts, repayment options and borrower benefits. To ensure objectivity and accuracy, SimpleTuition is not a lender.

About Savingforcollege.com LLC

Savingforcollege.com is an independent research, consulting, and publishing company providing financial professionals and consumers with comprehensive and objective information about Section 529 plans, Coverdell education savings plans, and other college investing strategies. The firm is headed by Joseph Hurley, the “529 Guru,” whose book, The Best Way to Save for College – A Complete Guide to 529 Plans, was the nation’s first and is still the most comprehensive assessment of 529 and other college-savings plans. For more information visit www.savingforcollege.com.

About SimpleTuition, Inc.

Founded in 2005, SimpleTuition is dedicated to helping students and parents make sense of education financing options. Recently featured as one of Fast Company’s Top 12 Web 2.0 sites, SimpleTuition offers the leading independent and objective solution for researching and comparing private, PLUS, GradPLUS, Federal Consolidation and Private Consolidation loans. The company currently offers over 50 student loan options from over 25 top lenders. SimpleTuition is headquartered in Newton, Massachusetts and is funded by Atlas Venture, IDG Ventures Boston and North Hill Ventures. For more information visit www.SimpleTuition.com.

1 Why Can’t Johnny Afford College? (Alliance Berstein, 2006)

2 Reports on College Pricing and Financial Aid (College Board, 2006)

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