New York, NY (PRWEB) June 11, 2008
TuitionBids.com is pleased to offer a more cost effective way for people to apply for student loans. Their innovative approach enables those who are in need of either a private or federal student loan to submit applications to up to six lenders who in turn bid for the right to do business with that customer.
The TuitionBids.com process allows users to create an online profile and customize their student loan search. The user's information is then sent out to lenders and banks who then "bid" for the consumers' business. The consumers choose from up to six lenders who they can then speak with about their student loan needs. By speaking to multiple lenders, students and parents are able to make the most informed decisions and make sure that they are receiving the best, most affordable loan available.
The true bidding nature of the TuitionBids.com website helps to drive the cost of private loans down. TuitionBids.com works with 10 lenders to provide the best loan offers to consumers with plans to expand to 15 lenders within the next few months. By working with fewer lenders, greater information is provided to about each lender that helps consumers stay informed without overloading them. This also creates a favorable situation for lenders, as they are not dividing their leads amongst a large number of competitors. A small, yet substantial number of lenders creates a win-win situation for both lenders and consumers.
TuitionBids.com co-founder and Chief Executive Officer, Keith Alliotts, elaborates on the benefits of this service; "With the ever-increasing cost of college tuition, consumers are forced to seek out financial assistance from both federal loans as well as the private sector. As federal loans only provide so much assistance, TuitionBids.com is here to act as a resource for education about the best types of private loans, as well as working to provide the most affordable solution to each consumer, based on their individual needs."
To learn more about TuitionBids.com student loan bidding process, please click on the following link: http://www.tuitionbids.com
TuitionBids.com is a privately funded business that started in 2007. TuitionBids.com provides a one stop location for parents, current and future students to learn about the college entry process and most importantly to apply for a student loan. The unique TuitionBids.com process allows you to quickly apply for a student loan, and allows up to 6 lenders to compete for your business.