SimpleTuition, an online platform for students who seek financial assistance for their education, raised a $26 million Series E from existing investors Atlas Venture, Flybridge Capital Partners and North Hill Ventures.
This latest round brings the total funding raised to $52 million including $5 million in debt financing.
SimpleTuition was launched in 2006 and offers students and parents an overview and advice on the costs and sustainability of different student loan options.
SimpleTuition also offers two other related services to keep costs down. Valorebooks is a platform that helps students buy or rent textbooks at reduced rates similar to what Chegg or Amazon are offering. SmarterBucks is a rewards program that helps students pay back their student loans with their everyday purchases.
All in all the platform aims to offer tips, advice, interactive tools and deals to ensure students plan better for the cost of college, pay less for college-related expenses, and are smarter about how they manage and pay back their student loans.
With student debt reaching more than $1 trillion and having a long term impact on the economy and the housing market it is definitely an interesting vertical for edtech startups. Two weeks ago we covered Credible which is also tackling the student loan market with a service that makes it easier for students to swap loan providers.
- SimpleTuition Doubles Total Funding; Raises $26 Million from Existing Investors | Finovate
- $1 Trillion Student Loan Problem Keeps Getting Worse | Forbes
- The long-term impact of student-loan debt | USA Today
- HEDLINE: Student Loan Marketplace Credible raises $500k | EDUKWEST