Purefy launches new student loan refinance program
Welcome to Purefy! It is a pleasure to announce that after a lot of hard work, we are ready to launch the Purefy Student Loan Refinance Program. We have quite a bit planned over the next several months, but to start, we want to provide some insight into who we are, what we’re here to do, and why it should matter to you.
Who we are
Purefy is a start-up, but not in the Silicon Valley mode. We are a team of both experienced and young professionals. Our six co-founders have an accumulation of more than 170 years in global financial institutions, investment banks, and other successful ventures. We couple them with a day-to-day team of high-achieving Millenials who have suffered first-hand from student loan debt. With our unique set of skills and motivation, we have come together to tackle a major issue in the marketplace today; universally high student loan interest rates.
What we are doing
We are a leader in revolutionizing the student loan refi market with a program that rewards superior performers. Our aim is to help those who have achieved well in school, launched a career, and taken care of their credit – plain and simple. Compared to a big bank solution, our rates are unquestionably superior [lower!] for those who earned their degrees. Unlike other specialty student loan refi companies, your alma mater won’t hold you back, regardless of its College Board ranking.
Our mission is not only to save you money and time through lower interest rates and shorter loan terms, but also to provide a customer experience that is seamless, transparent and customized to your particular needs.
Why this matters to you
Were you aware that the student loan market is approximately $1.3 trillion in size within the United States alone? It is practically impossible to wrap your mind around the magnitude of this burden on Millenials and their parents. If you’re curious, here is a great video by Chris Martenson’s Peak Prosperity that illustrates just how big $1 trillion is. Why is this relevant? Well… the federal government holds $1.1 trillion dollars of student loans, or 91% of this market! This means that there is a very high probability that at least a portion of your student loans were taken out at a high interest rate.
In general, the federal government has served an important role for our economy. They have made higher education accessible to almost everyone, regardless of personal or family wealth. Surely, this is at the core of the American Dream! However, in order for the U.S to be able to provide loans to everyone – without a credit check – the government has developed a “one size fits all” approach to lending. In essence, individuals who have strong credit and an ability to pay back their loans end up subsidizing those who have poor credit and often end up defaulting on their loans. This is why federal unsubsidized loans are offered at such high rates.
Here is why this should be important to you! If you worked hard in school and have taken care of your credit, you should not be paying a 6.5% or higher interest rate. At Purefy, we can lower your interest rate, often by two to three percentage points, and reduce your repayment term so you save a huge amount in total interest over the life of your loan. In fact, one of our recent customers will save over $165,000 in interest over the life of his new Purefy loan!
Today, student loan debt has quickly become the primary social issue for the Millenial generation and many others. At our core, we are here to try and fix this issue, one loan at a time. We see this as not just a way to help you personally, but to help our society and economy by providing a solution where none has existed.
To end this post, we’ll ask you a very simple question: Why would you continue to pay more interest over a longer period of time than you need to on your student loans? Why not refinance those loans with Purefy today!?