According to Pew Research Center a record 1 in 5 households now owe student loan debt. In 2010, student debt exceeded credit card debt for the first time. So, ya, it’s about time a company like Tuition.io came along to help people manage all this debt that helped to finance their education. Today Tuition.io announces a few new features worth noting. I asked Tuition.io’s Brendon McQueen a few questions about the announcement. Note: DailyTekk originally discovered Tuition.io back in August of 2011 while doing research for our College Tech: 101 Indispensable Apps, Websites, Services & Resources for Students post.
For the uninitiated masses, what is Tuition.io and why is it so awesome?
Tuition.io is a free personal finance tool focused on alleviating the growing pain felt by student borrowers who face increasing debt loads, a lack of transparency in a frustrating repayment process and a dismal jobs outlook. Tuition.io allows borrowers to easily access all their loans in one visually appealing dashboard, use graphical visualization tools to compare them and get customized loan optimization plans that take advantage of little-known and hard-to-understand refinancing options. Borrowers from over 130 universities, including the top 25 in the nation, have managed over $100 million on the platform.
As of today, what exciting changes are going to make Tuition.io even better?
Today’s site features a robust way to view all your loans and get loan-specific information and insight. We’ve most recently added in the ability to answer a few questions about yourself and get a personalized list of options that you can use to build a plan for yourself. Going forward, we’ll continue to enhance that optimization process with even more personalized elements that cater to specific borrower situations. For instance, we’re working with Student Veterans of America to refine the experience for veterans with student loans. Other, similar partnerships are also in the works.
Will Tuition.io ever have an API and will Tiution.io ever play nice with other financial organizing/tracking software?
Our users are finding us because they have a very strong need to deal with their very specific student loan problems, so for now, we’re singularly focused on providing our users with the very best tools available to address those complex problems. We’re listening to the feedback we receive from our users, however, so as more of them start demanding additional features or integration with other tools, we’ll listen and evolve to help our users.
What would you tell users who may be concerned about privacy and the use of their data?
Data security and privacy are fundamental to everything we do. When we think of a new product feature, one of the first questions we ask is, “What are the implications for data security, and can we implement this feature in a responsible way that will be respectful of our users’ privacy?” We know that if we weren’t doing everything in our power to earn our users’ trust, we wouldn’t be able to exist, so we are adamant about adhering to the highest industry security standards. For more technical information, I’d encourage your readers to check out our About / FAQ page.