SimpleTuition Advises Families to Start Researching Student Loan Options Now : Within 30 Days Schools Will Be Mailing Tuition Bills

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Recent economic turmoil has affected the availability of a number of student loan types and is causing confusion as to which lenders are still in the market. SimpleTuition, the leading student loan comparison site for personalized student loan research, recommends that students and families who need student loans for the fall 2008 school semester start shopping now.

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This year the credit crunch has put the squeeze on the availability of student loans and many families are realizing the lender they used previously may no longer be offering student loans or has implemented stricter credit requirements. We recommend families research loans now for the fall semester to allow for more time before the tuition bill is due.

"In past years, families have had a stable, robust supply of federal and private loan options to choose from – not to mention the option of tapping into savings and home equity to help pay the college bill," said Kevin Walker, SimpleTuition's co-founder and CEO. "This year the credit crunch has put the squeeze on the availability of student loans and many families are realizing the lender they used previously may no longer be offering student loans or has implemented stricter credit requirements. We recommend families research loans now for the fall semester to allow for more time before the tuition bill is due."

Despite the credit squeeze, there still are many companies prepared to loan money to students for college. SimpleTuition recommends keeping these ideas in mind when looking for student loans:

Max out federal loan options first, including Stafford, Perkins and Ford loans, before looking at private loans. Federal loans are lower cost loans and have more flexible repayment structures. Since Congress just increased the limit to federal loans, students will be able to receive $2,000 more per year on Stafford Loans beginning July 1. Evaluate PLUS loans where graduate students and parents of undergraduate students can secure a federal loan. Research loan financing options by talking with the school's financial aid office, and look to lenders that work with schools for certified private loans. These loans usually have better rates because they are 'certified' by the school, meaning the school reviews and signs off on the borrowing amount to ensure the student only borrows what is needed. The loan funds are then disbursed directly to the school. Do your own homework. Shop around and research student loans online. SimpleTuition's loan comparison site (http://www.simpletuition.com) lets students and parents compare and shop among many of the top lenders for Federal and private student loans. SimpleTuition's online resource (http://www.simpletuition.com) helps students and families make sense of education financing options. The company offers the leading independent and interactive solution for researching and comparing Stafford, private, PLUS, and GradPLUS loans from dozens of available lenders. Each loan option can be sorted and compared by monthly payment, total cost of the loan, number of payments, fees, and lowest and highest APR. No personally identifiable information or credit scoring is required.

About SimpleTuition Inc.

Founded in 2005, SimpleTuition is the leading education 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, Flybridge Capital Partners, and North Hill Ventures. For more information, visit http://www.SimpleTuition.com.

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