If you have a loved one that’s dealing with student loans, why not make a meaningful contribution to their life by helping them tackle their debt? So many of us hand out gift cards because we’re either too busy to shop properly or have no clue what people want. If someone you regularly gift has college debt, it’s easy to know what they want – they want to be done with their loans!
And while you may not be comfortable handing over an envelope of cash or a check with “for your student loans” written in the memo area, what’s great is to be able to give a gift that will directly decrease your giftee’s student loan balance. Tuition.io has developed a gifting program to help. It’s fast, easy, and sure to fit your loved one perfectly (unlike those itchy sweaters great aunts like to send)!
You can send a gift of $5-$500 and choose from a standard format message, a Hanukkah greeting or a Christmas greeting. Currently, MasterCard and Visa are the accepted forms of payment. You can include a customized message telling who the gift is from and it will be delivered via email on the date you select.
Tuition.io gifts are a perfect way for family and friends to help pay down loans of loved ones. As an added bonus, know that your gift will help beyond its face value. After you take interest into account, your gift carries an additional 26% effective rate. If you send a $100 student loan gift, you’ll be helping your giftee pay off $126 of their debt over the long term!
It is a simple process to purchase the gift – it takes literally less than five minutes to enter the information and press send. Once your recipient is notified via email of your generous gift (on the date you specify), they simply log into Tuition.io, enter account information for the loan they want it applied to and the last four of their SSN and voila – the amount is applied to that loan!
We’ve launched this in time for the busy holiday gifting season, but you don’t have to wait for a special occasion to help your loved one dig their way out of student loan debt. Here are some gifting ideas:
Birthday – What better way to celebrate another year older than to be less in debt?
Black Friday – Skip the long store lines and avoid fights over cut-rate electronics…
Hanukkah – You can send eight crazy nights of student loan assistance to your loved one!
Christmas – Naughty or nice, everyone deserves a break on their student loans…
New Year’s – Resolve to slim down student loan balances for the coming year.
President’s Day – Donate some Benjamins to your loved one’s student loan balance!
If you want to send out a “hint” that all what you want for Christmas this year is student loan money, share this page with your loved ones. And to deal most effectively with your student loans, sign up for our free student loan management tool. Read our blog for tips on repayment and check out our Student Loan Help center for tips and How to Guides!