THOUSAND OAKS, Calif., Oct. 2, 2017 /PRNewswire/ — The new and Innovative LoanGifting SaaS Fin Tech solution was created to help overcome the estimated $1.5 trillion student loan debt epidemic. As per the Federal Reserve Bank of New York, the average default rate on student loan debt is 11.2 percent. More specifically, it is estimated that no payments were made on $137 billion in student loans due in 2016. This represents a 14 percent increase in defaults compared to 2015. Given the increasing student debt load and inability for many to overcome this burden, additional methods to repay student debt must be utilized. LoanGifting harnesses the power of crowdfunding and employee student loan benefits and can help those with st…
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