The best gift for college grads
For college graduates and adults struggling with student loan repayment, the holiday season can be difficult. So many gifts to give, so little money in the bank account.
But a new service from Tuition.io lets family and friends ease the burden of student loan borrowers during the holidays.
Help borrowers repay student debt
The company makes it possible to send loved ones a gift certificate to put toward their student loans and pay off their debt.
Gift-givers can send certificates for as little as $5, all the way up to $500. And you can be sure the recipient will use it toward student loans, since the money goes directly to his or her student loan balance.
With the average student loan debt of a new college graduate rising to $29,000 last year, there are fewer gifts more useful to a young adult. In fact, 80% of college graduates with debt prefer a gift toward their loans over one to a restaurant or store, according to Tuition.io.
We think this is a great idea, as the earlier you can pay off your student loans, the more you’ll save in interest over the lifetime of the loan. The company says that for a typical new grad, the interest savings of a student loan gift certificate are worth an additional 26%.
Managing student loans
If you’re looking for a great gift for the college graduate in your life, consider giving them a gift certificate to put toward their student loans. New shoes can’t pay a student loan bill, but this certainly can. You’ll help ease their stress and give them something they can put to good use.
And if you’re a college grad struggling to repay your student loans, you can always coyly share the link with your family and friends on Facebook and Twitter.
Of course, a gift certificate won’t wipe out all your student loan debt. If you need help paying your student loans and choosing a student loan repayment plan, give us a call at 1-888-234-3907 or contact us using this form.