CHARLOTTE, N.C., June 6, 2014 /PRNewswire/ -- LendingTree has moved into the student loan category, launching a new student loan shopping experience for private student loans.
This is the latest effort in a growing series of product initiatives that LendingTree has recently launched. Others include reverse mortgages, home equity, personal loans, and a new mobile app.
Through LendingTree's student loan shopping experience, students or their parents can compare private student loan offers that are customized to the their requested loan amount and school. The borrower can then compare loan features including APR range, loan terms, total borrowing costs and monthly payments to find the loan option that best fits their needs. Once they have made a selection, they are then directed to the full application on the lender's site.
"We are on a mission to help students and their parents become better, more empowered borrowers when it comes time to seek financial aid for school," said Tamara Kotronis, SVP & GM, Education. "This experience affords them the opportunity to shop and compare loan offers side-by-side in a consistent manner, and truly find the best fit for their needs."According to the College Board, private student loans accounted for 39 percent of undergraduates' funding and 64 percent of graduate students' funding in 2012-13, with total education borrowing amounting to over $110 billion. Private student loans help to bridge the gap between college tuition and federal financial aid. Typically, private student loan funds are available earlier than Federal loans and can help fund graduate school when Pell grants aren't an option. Private student loan rates are dependent on one's credit profile and may require a co-signer. For more information, please visit www.lendingtree.com/studentloans. About LendingTree, LLCLendingTree, LLC is the nation's leading online source for competitive home loan offers, empowering consumers during the mortgage, refinance or auto loan process. LendingTree provides an online marketplace which connects consumers with multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan. Since inception, LendingTree has facilitated more than 30 million loan requests and $214 billion in closed loan transactions. LendingTree provides access to lenders offering mortgages and refinance loans, home equity loans/lines of credit, and more. LendingTree, LLC is a subsidiary of Tree.com, Inc. (NASDAQ: TREE). For more information go to www.lendingtree.com, dial 800-555-TREE, join our Facebook page and/or follow us on Twitter @LendingTree. MEDIA CONTACT: Megan Greuling (704) 943-8208 Megan.Greuling@tree.com SOURCE LendingTree