AUSTIN, Texas, Aug. 13, 2015 (GLOBE NEWSWIRE) -- Austin-based startup Student Loan Genius was one of more than 30 startups chosen to attend White House Demo Day, which launched to help close the investment gap and provide more Americans the opportunity and access they need to pursue their business dreams.
Student Loan Genius is recognized as the modern, affordable benefit that allows employees to manage, optimize, and reduce their student debt.
Competitive, large companies covet Student Loan Genius as a recruiting and retention tool to attract and keep top employees and improve company culture. The platform can help the average employee save hundreds on their monthly payments; slice their total loan balance by thousands, and reduce their repayment period by years.
"On average, our customers are graduating with 8-12 different loans, have both federal and private, with varying interest rates, and are paying 2-3 different service providers. It's a confusing mess and most people aren't even sure what their options are," said Student Loan Genius CEO, Tony Aguilar. "With just a $25 monthly contribution from a company we can reduce loan payments by 49%, saving our users around $1K a month, and reducing debt-to-income by over 10%, improving the chances of helping them qualify for a mortgage."
With the Student Loan Genius platform employees can:
- Manage federal and private loans
- Compare and apply for 70+ repayment options and relief programs
- Build a customized plan that fits their budget
- Set up automated payments through payroll
- Receive a 401k like match from their employer towards their student debt
The student loan problem has reached epidemic proportions: we have accumulated over $1.2 trillion dollars in debt. Nearly 25% of all households in America bear student loan debt and the average graduate is walking away from school owing more than $29K -- and the problem continues to grow as tuition skyrockets and financial aid diminishes.
Student Loan Genius
Student Loan Genius is crafted with love in Austin, TX.