TuitionBids.com in the News

Press Releases

3/12/2008
TuitionBids.com Launches Online Destination for Students and Parents Looking for Loan Solutions
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(New York, NY - March 12, 2008) – TuitionBids.com today announced the launch of their new website (www.tuitionbids.com), which will provide a one-stop resource for parents, current and future students to learn about the college entry process and most importantly to apply for student loans. The unique TuitionBids.com process allows users to quickly apply for a student loan, and allows up to six lenders to compete for business. TuitionBids.com is a privately funded business.

TutitionBids.com is not only a destination for student loans, but a place for consumer education. The site also provides users with information on schools from around the country – including programs, majors, size and attendance and associated costs as well as a gap analysis that helps a student/parent determine what their private loan needs will be after they receive federal loans.

“With the ever-increasing cost of college tuition, consumers are forced to seek out financial assistance from both federal loans as well as the private sector. As federal loans only provide so much assistance, TuitionBids.com is here to act as a resource for education about the best types of private loans, as well as working to provide the most affordable solution to each consumer, based on their individual needs,” said TuitionBids.com co-founder and Chief Executive Officer, Keith Alliotts.

TuitionBids.com allows users to create an online profile and customize their student loan search. The user’s information is then sent out to lenders and banks who then “bid” for the consumers’ business. The consumers choose from up to six lenders who they can then speak with about their student loan needs. By speaking to multiple lenders, students and parents are able to keep lenders “honest” and make sure that they are receiving the best, most affordable loan available. Credit checks are also offered in order to better tailor each loan offer.

The true bidding nature of the TuitionBids.com website helps to drive the cost of private loans down. TuitionBids.com works with around 15 lenders to provide the best loan offers to consumers. By working with fewer lenders, substantial information is provided to help consumers without bombarding them with information. This also creates a favorable situation for lenders, as they are not dividing their leads amongst many more lenders. A smaller, yet substantial number of lenders creates a win-win situation for both lenders and consumers.