Student loan firm aims to save you some money
The high costs of higher education have many students and parents crying uncle or, at least, crying that they wished they had a rich one. As if on cue, enter My Rich Uncle, a company whose stated aim is to relieve some of the pain when arranging financing for college.
Haven’t heard of them yet? That’s sure to change, as My Rich Uncle recently began to ramp up its advertising campaign. And it’s what the ads say that causes financially strapped students to drop their calculators.
In a two-page ad that ran in the New York Times in July, My Rich Uncle didn’t mince words. In black and white, the company said it is the first student loan company to cut the federal loan rate by up to two percent at repayment. That means a potential 1.25 percent off the fixed rate for Stafford loans, which is now set 6.8 percent, and a potential two percent off the federal PLUS loan — which is made available to parents of undergraduate students, as well as to graduate and professional school students — where the fixed rate is now set at 8.5 percent.
If this isn’t startling enough, the ad continues to say students can apply directly to My Rich Uncle for their loan and cut out the "middleman" which, in this case, is the financial aid office.
Understanding the part about the middleman gets to the heart of the matter.
Source: http://msnbc.msn.com/id/14246357/
Haven’t heard of them yet? That’s sure to change, as My Rich Uncle recently began to ramp up its advertising campaign. And it’s what the ads say that causes financially strapped students to drop their calculators.
In a two-page ad that ran in the New York Times in July, My Rich Uncle didn’t mince words. In black and white, the company said it is the first student loan company to cut the federal loan rate by up to two percent at repayment. That means a potential 1.25 percent off the fixed rate for Stafford loans, which is now set 6.8 percent, and a potential two percent off the federal PLUS loan — which is made available to parents of undergraduate students, as well as to graduate and professional school students — where the fixed rate is now set at 8.5 percent.
If this isn’t startling enough, the ad continues to say students can apply directly to My Rich Uncle for their loan and cut out the "middleman" which, in this case, is the financial aid office.
Understanding the part about the middleman gets to the heart of the matter.
Source: http://msnbc.msn.com/id/14246357/
posted by bradley at 7:02 PM
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