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ISM enables students in Indiana to effectively compare student loan options utilizing overture marketplace
ISM opts to cover the cost of student’s membership to Overture Marketplace to provide students no-cost access to a loan comparison tool, saving Indiana students time and money
BETHESDA, MD (June 9, 2015) — Overture Technologies today announced that the Indiana Secondary Market for Education Loans, Inc. (ISM) has agreed to cover the membership cost for Indiana students who use Overture Marketplace, an online platform that provides students and their families an independent, transparent and unbiased way to compare private student loan rates and terms from multiple lenders. ISM Education Loans provides Indiana students and their families with information and a variety of solutions for paying for higher education with the least debt possible.
“We couldn’t be more excited to help bring this valuable loan comparison tool to all Hoosier students,” said Joseph Wood, president of ISM. “Students need to understand how these loans work and to investigate all of their options before borrowing. Overture Marketplace helps them do so in an easy and effective way.”
“We have worked very closely with ISM for years and are continually impressed with their dedication to helping students save money,” said LeRoy Pingho, CEO of Overture Technologies. “Based on ISM’s mission, it came as no surprise when ISM said they would sponsor the membership so Indiana students would have no-cost access to the Overture Marketplace.”
Marketplace is the only place where students or their parents can complete a simple interview, have their financial qualifications compared to multiple lenders’ criteria, and instantly see personalized rates and terms for private student loans before applying with any lender. Users can review and sort their loan results by financial terms such as total cost, fixed- or variable-rates and repayment options.
Since 2009, Overture’s Marketplace has pioneered online loan prequalification and comparison by providing market transparency, fostering more efficient prices and innovation as lenders compete. Users can also identify important non-financial features that they want to consider in their decision-making, such as the lender’s co-signer release policy or deferment options. By pairing side-by-side loan details with helpful information about the meaning and relevance of key terms, Marketplace can help students shop quickly and save hundreds of dollars or more on a typical private student loan.
Overture’s Marketplace bases results on meaningful information about borrowers’ credit qualifications, including a full credit analysis option, in order to produce accurate, personalized results – not rate ranges or deceptively low “estimated” rates. For these reasons, Marketplace has received strong support from the Association of Independent Colleges and Universities and its more than 1,000 regional members.
About Overture Technologies
Founded in 2000, Overture Technologies is the leading provider of solutions that help students and their families save money by making better financial decisions. Using cutting-edge technology, Overture helps students create comprehensive plans for financing their education, as well as source competitive rates on private student loans through a marketplace of national lenders, credit unions and other not-for-profit organizations. The company is based in Bethesda, Maryland. For more information, visit www.overturecorp.com and www.OvertureMarketplace.com.
About ISM
ISM has been working with Indiana families for 35 years to improve opportunities for obtaining a postsecondary education. ISM’s College Planning initiative helps thousands of Hoosier families every year better understand the financial aid process as a whole, and personally assist with FAFSA filing too. ISM played a leading role in increasing borrower benefits for Indiana students and families. It offers families a variety of information and solutions for paying for higher education “with the least debt possible.” ISM has also helped fund the Indiana Science, Technology, Engineering, and Mathematics education project (STEM) and a pilot project that establishes a mentoring program for middle school students. Since its founding in 1980, Indiana citizens have been the beneficiary of over $64 million in education projects funded by ISM. As a partner to Overture, ISM covers the cost of Overture’s Student Loan Marketplace for its students in order to encourage them to shop and compare private student loan options.
For more information about ISM, visit www.ismloans.org.