Student Loan Tool Has Potential in Auto Finance

Debt is never fun. No matter how big (like, four-years-of-college big) or how small (a four-course dinner at that fancy restaurant, perhaps?), opening up one of those bills is often accompanied by a feeling of dread.

A free website called Tuition.io (“I owe,” get it?) has streamlined managing and repaying student loan debt.

The site offers simplified loan aggregation, and aims to help students understand their loan history, what they owe, who they owe it to, and how they can pay it back. The cleanly designed site gives snapshots of monthly payments, provides contacts for each lender, calculates interest borrowers will pay, and even gives a percentage of how much has been paid off since joining the site.

How great a tool would this be for auto finance borrowers? There are a number of consumers out there who have auto loans with more than one lender, and a site like Tution.io could really help them manage their funds, which could lead to lower delinquencies. Sounds to me like a win-win for the borrower and the lender.

Check out the screenshot below of Tuition.io.