iHELP Student Loans Helps Borrowers Calculate the Potential Return on Education Investment

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New website provides access to more than 17,000 scholarships and tools to help borrowers research and compare college costs and salaries by major.

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Deciding how you will finance your education should be part of a broader equation that considers the cost of college and the salary outlook for a given profession.

iHELP Private Student Loans, the exclusive student loan Preferred Service Provider of the Independent Community Bankers of America® (ICBA), launched its new portal, iHELPloan.com. In addition to providing more clarity on the loan process, iHELP built a College Planning Services portal with free information to help students select a college, search for scholarships and approximate the potential return on their education investment.

iHELP Private Student Loans fill the gap between a family’s contribution, scholarships, federal aid and the cost of attending college. Obtaining a college degree is the most important decision a young person can make in determining their financial future. Graduates earn $1.5 million more over a lifetime of earnings and have significantly higher employment rates than those with a high school diploma (Source: Georgetown University and the Lumina Foundation, 2012).

Kevin Moehn, Program Executive at iHELP Private Student Loans, said, “Deciding how you will finance your education should be part of a broader equation that considers the cost of college and the salary outlook for a given profession. At iHELP, we encourage students and their families to use our new site as a financial literacy and planning resource. It is important that students know what kind of return on investment in higher education they might expect. ”

Andee Bush, Assistant Vice President of Marketing at Macon-Atlanta State Bank in Macon, Missouri, stated, “College is a great investment. Yet the more informed students and their families are when it comes to understanding the cost of a college education, the better. iHELP’s College Planning Serivce is a great way to help students to make smart decisions about selecting and paying for their higher education. This approach is consistent with the transparent and customer-centric service we provide as a community bank.”

At iHELPloans.com, students can:

  •     Compare colleges, including majors, activities and costs
  •     Access more than 2 million scholarships from 17,000 sources, totaling more than $7 billion
  •     Consider salary estimates by profession and by region throughout the U.S.

If students determine that they might need a Private Student Loan, they can complete an online application that provides approval notification within minutes, or they can work with their iHELP participating community bank. iHELP Private Student Loans assigns each borrower a dedicated customer service representative to help with loan origination and loan repayment through its program administrator, the Student Finance Loan Corporation, based in South Dakota.

About iHELP Private Student Loans
The iHELP Private Student Loan Program is provided through more than 5,000 community minded member banks of the Independent Community Bankers of America® (ICBA). iHELP and its lending partners are committed to helping students and their families make informed decisions about their plans for higher education, providing current resources on school costs, estimated salaries for various careers, and providing free access to more than 17,000 available scholarships. The Student Loan Finance Corporation administers iHELP for its banks and has more than 30 years of experience in the student loan business. http://www.ihelploan.com.

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