Tuition.io, a company out of Launchpad.la accelerator, is now accounting for over $60 million in aggregate user debt on its platform.
Essentially the Mint.com for students in debt, aTuition.io lets kids fresh out of college get a better handle on their finances. And according to the company, 37 million Americans have student loan debt, 38 percent of whom are not making any progress paying it off.
So, if anything, Tuition.io is right on time if not already late. The founder himself, Brendon McQueen, graduated from Columbia with 12 student loans and over $120,000 in debt, so he is certainly solving a pain point he understands.
The service works by bringing together all of a student’s loans into a single interface. The user can visualize the debt in various charts and graphs, or see a comprehensive calendar of which loan payments are due during different parts of the month. Tuition.io even does all the math concerning the best way to payoff debt based on your own unique budget and lifestyle. Users can then reduce monthly payments as needed.
The company plans on continuing to build out user-friendly features in the future. For now, however, the service is invite-only.