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1 Out of 3 Parents Will Help Their Child Pay Back Their Student Loans, Finds College Ave Student Loans Survey

The Associated Press

WILMINGTON, Del.--(BUSINESS WIRE)--Jul 11, 2018--Borrowing money to pay for college costs is often a family affair, according to a recent national survey of 3,510 parents of college students from College Ave Student Loans conducted by Barnes & Noble College Insights℠. Not only will a parent likely need to serve as a co-signer on a child’s private student loan, many opt to help pay back the loan as well. More than 1 out of 3 parents (36%) say they will help their child pay back some or all of their student loans (federal or private).

“The road to college is a major family investment, and this includes creating a financial plan,” says Joe DePaulo, CEO and Co-Founder of College Ave Student Loans. “Our survey highlights that every family approaches paying for college in a way that meets their unique financial needs and goals. For families considering borrowing as an option, it’s important to examine all resources available and find the loan options that best serve your specific budget goals – both short-and-long term.”

Paying for college is one of life’s biggest financial stresses, according to the survey. Approximately 1 out of 3 parents say paying for college is more stressful than a mortgage payment (39%) and credit card debt (32%). To create a successful college funding strategy, this often includes multiple ways to pay. Scholarships, grants and federal loans in the student’s name should be the first options families look to when budgeting for college. When these sources aren’t enough to cover the full college cost, a private student or private parent loan may be an option families consider. To help families borrow smart for the upcoming school year, DePaulo suggests:

For more information about ways to plan and pay for college, visit the resources at College Ave Student Loans: https://www.collegeavestudentloans.com.

About the Survey

The College Ave Student Loans survey was conducted by Barnes & Noble College Insights℠. The national survey had 3,510 parent respondents and was conducted April 13 – April 17, 2018.

About College Ave Student Loans

College Ave Student Loans is simplifying the student loan experience so students can get on with what matters most: preparing for a bright future. As a fintech lending company with a sole focus on private student loans, we’re using technology and our deep industry expertise to connect families who need to cover education costs with lenders who can provide that funding. By specializing in student loans, we are able to give our customers the attention they deserve and deliver loans that are simple, clear, and personalized for the individual: we help you find your perfect fit. We offer competitive rates, a wide range of repayment options, and a customer-friendly experience from application through repayment. Visit: www.collegeavestudentloans.com.

About Barnes & Noble College

Barnes & Noble College, a Barnes & Noble Education company ( NYSE:BNED ), is a leading operator of college bookstores in the United States. Barnes & Noble College currently operates 781 campus bookstores and the school-branded e-commerce sites for each store, serving more than 5 million college students and faculty nationwide. General information on Barnes & Noble College can be obtained by visiting the Company’s website: www.bncollege.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180711005239/en/

CONTACT: College Ave Student Loans

Katherine Jacobs, 302-684-6066

kjacobs@collegeave.com

or

Duffy & Shanley, Inc.

Emily Hollenbeck, 401-278-4432

ehollenbeck@duffyshanley.com

KEYWORD: UNITED STATES NORTH AMERICA DELAWARE

INDUSTRY KEYWORD: EDUCATION UNIVERSITY CONTINUING PROFESSIONAL SERVICES BANKING FINANCE PARENTING CONSUMER

SOURCE: College Ave Student Loans

Copyright Business Wire 2018.

PUB: 07/11/2018 08:00 AM/DISC: 07/11/2018 08:01 AM

http://www.businesswire.com/news/home/20180711005239/en

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