Fintech startup focused on the student loan crisis updates offerings to support individual borrowers and their employers optimally manage student loan debt.
SCOTTSDALE, Ariz., Oct. 19, 2022 /PRNewswire-PRWeb/ -- BenElevate, an early stage fintech company working to address the student debt crisis by bringing to bear tools, expertise, and bespoke solutions to streamline student loan debt management for borrowers and employers, today announced the revamp of its digital tools.
According to CEO David Johnson, BenElevate is attacking a complex problem with a refreshingly simple perspective:
"Individual borrowers and their employers need help navigating how best to manage student loan debt, whether through the pursuit of debt forgiveness, optimizing payment plan(s), or via refinancing. We have upgraded our tools with a focus on ensuring that our users, be they individual borrowers or employers, can easily navigate the traditional headaches associated with optimal student loan debt management."
BenElevate offers tools that support:
1) Assessment. Determining the optimal student loan management approach for an individual, starting with an individual determination of whether a debt forgiveness opportunity exists and calculating its value.
2) Monitoring & compliance. User support in managing the informational requirements associated with successful achievement of student loan debt forgiveness.
3) Analysis. An apples-to-apples salary analysis of positions inclusive of debt forgiveness, allowing job seekers to make an informed decision on what position is best for them.
4) Refinancing. Built in refinancing functionality allows users for whom refinancing is the optimal path to receive a customized quote.
Founder Jason DiLorenzo said the following:
"The recent announcement around debt forgiveness and a new income-based repayment plan for student loan borrowers was extremely exciting, but we have to be clear eyed. The average level of student loan debt for someone with a graduate degree exceeds $100,000. Debt forgiveness of $10,000 - $20,000 is wonderful, but these borrowers will continue to have a sizeable amount of student loan debt. Managing student loan debt, and managing it optimally, is increasingly one of the most important financial concerns of early and mid-career professionals."
Today, BenElevate is supporting its users to optimally manage over $100 million in student loan debt. https://benelevate.com
Media Contact
David Johnson, BenElevate, 1 3125057238, [email protected]
SOURCE BenElevate
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