Education lenders are being watched more closely than ever. Do you have the information you need to support your lending choices?
Last month one of the biggest names in student loans disclosed a federal probe into its marketing practices. This latest incidence of a lender under investigation comes as the House moves to cut interest rates — and considers some big changes to the business of lending. In this environment, many schools are reviewing their lender lists to make sure they can support their choices. How can you be sure of your partners?
With T.H.E., you don’t have to worry. One of the ways we can put your mind at ease, along with the monthly savings reports we send you, is our Class Savings Calculator, available online. It takes just a few seconds to input numbers (e.g., class size, loan amounts) for a typical class at your school to see how much money they can expect to save, as a group, with T.H.E.’s real and reliable repayment benefits.
The calculator also compares T.H.E.’s savings for your class to the expected savings from other lenders, who typically pay benefits to only 10% of their borrowers (compared to 95% for T.H.E. borrowers). No matter what the class size, you’re likely to find that T.H.E.’s class of borrowers will save hundreds of thousands of dollars more in repayment.
We’re always happy to disclose this kind of information, and we invite you to share your findings from the Class Savings Calculator with other administrators at your school. It’s very important to us that our financial aid partners are confident having T.H.E. on their lender list.