Students Will Gain Free Access to Credit Scores, Identity Theft Protection, and Programs to Monitor and Manage their Credit and Student Loans – all in One Place
Mountain View, Calif., and Rolling Meadows, Ill. – May 13, 2015 – Credit Sesame, a leading personal finance company focused on helping consumers monitor and manage their credit and loans, and iontuition, the nation’s leading provider of web-based tools to manage student loans, today announced a new partnership that will allow student loan borrowers to effortlessly access, monitor and manage their credit, college loans, and identity protection all in one place – for free. The new product, unveiled today at Finovate, provides a critical solution for a growing population of students and Millennials who are often faced with the overwhelming challenge of managing their credit and loans with limited financial guidance.
More than 40 million Americans are saddled with nearly $1.2 trillion in outstanding student loans, a number that continues to grow. Student loan debt has nearly quadrupled over the past 10 years and over 70 percent of college students reportedly don’t compare lender interest rates before borrowing. Today, the average American student graduates with $29,000 in student loan debt. Recognizing many loan holders are struggling to pay off their debt and better understand their finances, Credit Sesame and iontuition launched a new service that enables Millennials and college students to learn more about their credit scores, better understand and manage their credit and loans, and protect their identities at one of the most critical times in their lives.