Earnest and Payitoff Deliver Financial Empowerment with Launch of Student Loan Manager

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Earnest , a fintech company empowering students to maximize their financial futures, has partnered with Payitoff , a leading provider of consumer debt guidance tools for financial institutions, fintech, and financial wellness providers, to launch its Student Loan Manager .

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Monday, October 23, 2023
Information
Tags: 
University, Banking, Education, Technology, Professional Services, Other Technology, Software, Fintech, Other Education, Finance, Continuing, Anxiety, News, CARES Act, Student loan, Student, Partnership, Bank, Credit
Geotags: 
CALIFORNIA, UNITED STATES, NORTH AMERICA
⚠ generated by AI ↴
Organisation: 
EARNEST, PAYITOFF
Summary
Key Points: 
  • Earnest , a fintech company empowering students to maximize their financial futures, has partnered with Payitoff , a leading provider of consumer debt guidance tools for financial institutions, fintech, and financial wellness providers, to launch its Student Loan Manager .
  • The new, free tool provides personalized repayment plan recommendations to lower monthly payments, helping borrowers take control of and better manage their student loan debt.
  • “The expiration of the CARES Act has created stress and anxiety for many of the nearly 37 million federal loan borrowers,” said David Green, CEO of Earnest.
  • To receive personalized student loan repayment recommendations and enroll in federal debt management programs in one seamless platform, visit https://www.earnest.com/student-loan-manager .


Earnest, a fintech company empowering students to maximize their financial futures, has partnered with Payitoff, a leading provider of consumer debt guidance tools for financial institutions, fintech, and financial wellness providers, to launch its Student Loan Manager. The new, free tool provides personalized repayment plan recommendations to lower monthly payments, helping borrowers take control of and better manage their student loan debt.

“The expiration of the CARES Act has created stress and anxiety for many of the nearly 37 million federal loan borrowers,” said David Green, CEO of Earnest. “Borrowers are grappling with payment concerns amid rising inflation, and many aren’t sure who their servicer is or how to pay them. Earnest’s Student Loan Manager aims to educate borrowers on their options and help them get on the right financial track fast, whether by finding their servicer in seconds or supporting their enrollment in federal repayment programs to lower monthly payments.”

Earnest’s Student Loan Manager is designed to support anyone with federal student debt, including those who are not able or willing to refinance their federal student loans. In only a few minutes, the free tool provides personalized, clear, and actionable information to help borrowers manage their federal student loans. Borrowers are only asked for essential information that is safeguarded with end-to-end encryption, enabling them to enroll in suitable potential money-saving programs directly through the platform.

In just a few steps, borrowers can:

  • Learn who is servicing their federal student loans by simply entering their phone number, date of birth, and zip code.
  • Link federal loan accounts to get automated guidance on federal assistance program eligibility.
  • Receive individualized repayment plan recommendations and lower monthly payments to best fit their lifestyle, considering factors such as income, family size, and amount owed.
  • Enroll in federal assistance programs such as income-driven repayment.

“For millions of people, the student loan payment resumption will impact their lives in an untold number of ways,” said Bobby Matson, CEO of Payitoff. “The good news is that a plethora of options are available to borrowers to minimize their monthly payments. Our aim with this partnership is to use technology to simplify that process to just a few clicks. We want borrowers to be able to slash their student loan payments in half, or more, in minutes. That's what this collaboration achieves.”

Join the more than 200,000 customers who have reduced their total cost of education with Earnest’s debt solutions. To receive personalized student loan repayment recommendations and enroll in federal debt management programs in one seamless platform, visit https://www.earnest.com/student-loan-manager.

About Earnest:

Earnest empowers past, present, and soon-to-be students to maximize their financial futures through thoughtful guidance and impactful products. Founded in 2013 on the belief that financially responsible people deserve better options and access to credit, Earnest's education tools and lending products empower anyone seeking higher education to reduce the total price tag of their education, supercharge their ability to pay down student debt, and get on the right financial track fast. Learn more at earnest.com.

Earnest is a subsidiary of Navient (Nasdaq: NAVI).

About Payitoff:

Payitoff is a leading provider of consumer debt guidance tools for financial institutions, fintech, and financial wellness providers. Their groundbreaking, easy to implement solution is transforming the student loan and consumer debt landscape, offering any financial application the opportunity to support their customers in reaching their financial targets. Meanwhile, institutions minimize risk, attract more customers, and boost overall engagement. Payitoff is headquartered in New York City and has raised $11M in funding from notable investors, including Lightspeed Venture Partners, Sound Ventures, Social Leverage, and Struck Capital. For more information, please visit https://payitoff.io/.

Earnest Loans are made by Earnest Operations LLC or One American Bank, Member FDIC. Earnest Operations LLC, NMLS #1204917. 535 Mission St., Suite 1663, San Francisco, CA 94105. California Financing Law License 6054788. Visit www.earnest.com/licenses for a complete list of licensed states. For California residents: Loans will be arranged or made according to a California Financing Law License. One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104.

Earnest loans are serviced by Earnest Operations LLC with support from Navient Solutions LLC (NMLS #212430). One American Bank and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America.

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