Innovative Platform Helps Conference Attendees Go Beyond Lender Lists to Help Students Find the Best Deal on a Student Loan
North Reading, Mass., June 30, 2008 - College Loan Market, a leading auction site designed to deliver the best deal on student loans, today announced its participation at the upcoming National Association of Student Financial Aid Administrators (NASFAA) Annual Conference. At its booth (#143), the company will provide demos of its leading auction site and meet one-on-one with student financial aid professionals to provide information on how school's can go beyond lender lists and empower students to find the best deal on a student loan. The NASFAA Conference, which represents the largest gathering of financial aid professionals anywhere, will be held July 6 - 9, 2008 in Orlando, Fla.
The student loan process has always been a complex, confusing endeavor for students and parents. College Loan Market works with student financial aid professionals to bring the power of auctions to the desktops of students and parents. With the additional challenges facing borrowers this year, students will need a resource to help them make up the difference between the cost of tuition and the amount of aid they will receive through scholarships and Federal loans. College Loan Market fills the void.
Leveraging the power of auctions, College Loan Market goes beyond lender lists or simply comparing generic rates from various lenders. Instead, College Loan Market acts as an intermediary to connect schools, students and lenders to their mutual benefit. Working through its participating group of reputable lenders, College Loan Market aims to deliver loan rates that are customized and competitive for each individual user. This free, easy-to-use, secure service provides students with one-stop shopping and an unmatched level of insight to determine the best private loan option for their individual circumstances.
College Loan Market has forged partnerships with leading lenders to provide a customized, individualized auction that identifies potential lenders at the best rates for each borrower. Under the current system, borrowers are penalized for comparison shopping to obtain the best student loan value. The only way to obtain a true rate quote is by applying, which results in a credit inquiry against the applicant's credit record. The College Loan Market platform allows for multiple rate quotes with a single non-impacting "soft credit inquiry", thus allowing the borrower to select the best offer among multiple lenders.
"We designed College Loan Market with an eye towards providing financial aid officers and students with a powerful tool that provides much more than just a comparison site for student loans," stated Kent Hattery, president of College Loan Market. "Understanding the unique needs of the financial aid office, we have developed a platform that allows schools to provide students a powerful solution to identify the best loan options for their specific requirements."
About College Loan Market
College Loan Market brings the power of auctions to assist borrowers in obtaining the best rate on student loans. Beyond simple comparison shopping, College Loan Market leverages strategic relationships with leading lenders to provide a highly customized, individualized experience and creates a one-stop-shopping experience for parents and students.
Posted 07/02/08 to www.NASFAA.org. Posting of press releases is done as a service to Members and does not imply endorsement or support by NASFAA. NASFAA does not review this information for content or accuracy.
