After several months locked away in the office
developing our product, we are proud to announce
the launch of Student Loan Hero.
I put together a Press Release that I thought you would
be interested in writing about.
FYI - You are one of the first reporters I am contacting.
Feel free to get a head start on the release. The big push
will be on Tues/Weds.
If you have questions or want to setup an interview for
a more customized article, feel free to call or email back.
- Office: 570.301.6950
- Cell: 619.735.0696
“Student Loan Hero launches to save you $5,000 on your Student Loans.”
Student
Loan Hero is launching today to help 37 million student loan borrowers
manage over $1 trillion in outstanding loan debt. Using a combination of
bank level data aggregation and socio-economic recommendations, Student Loan Hero can save you $5,000 and get you out of debt 2 years faster.
The
start-up is the brainchild of three global entrepreneurs, who
discovered borrowers are increasingly having trouble repaying their
student loans. Last year, federal student debt rose to more than $867
billion, and around 15% of borrowers defaulted according to the Kojo
Nnamdi Show (May 2012). In March of this year, the Financial Post
reported that about 5 million federal education-loan borrowers are in
default.
For
co-founder Andrew Josuweit, Student Loan Hero is also tackling a
personal problem. After graduating with $104,000 in debt spread across
12 loans and 4 different companies, Josuweit quickly realized how
frustrating and confusing student loan repayment can be.
Josuweit
said, “Many students aren’t conscious about how much debt they accrue
while in school and also how to manage the debt once they graduate. Our
mission is to help students strategically organize their loans to save
money and get out of debt faster - without the frustration of dealing
with a bank or college.”
With
dozens of federal and private loan programs available, it can be
difficult to understand the pros and cons, as well as what programs you
are eligible for. Student Loan Hero highlights all of the available
programs to a borrower based of off the information they provide upon
sign-up.
When a user signs up, Student Loan Hero connects to private banks and the National Student Loan Data System in
order to retrieve a borrower's loan data. Once the loan data has been
found and added to the platform, a user can adjust their monthly
payments to develop a repayment strategy that fits their situation. A
user can then check back in on a monthly basis to keep tabs on their
progress and see any new notifications or updates to their student
loans.
Co-founder
Evan Shoemaker said, “On average, our strategies can help borrowers
save close to $5,000 over the lifetime of their loan repayment and get
out of debt 2 years faster. Also, we can help students restructure their
private loans with loan consolidation if it makes sense for the
particular borrower.”
With
the average college student now graduating with over $25,000 in student
loans, it looks like we will only continue to see more companies
attempting to lower the cost of education. If you have student loans,
Student Loan Hero is looking for early adopters to test out the tool and
give feedback. So go ahead, create an account and start saving your hard earned moola!
Release Date: For immediate Release (Week of 10.1.2012- 10.5.2012)
Press Contact:
Andrew Josuweit
570.301.6950
Company Information:
Student Loan Hero, Inc.
@studentloanhero
http://fb.com/studentloanhero
Founded: March 2012
Co-Founders:
- Andrew Josuweit
- Evan Shoemaker
- Pavel Timofeev
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