Last week was an exciting time for us as we announced our move to become independent. This week, we cover how we can save you (more) money on your student loans and share highlights from the coverage of our announcement.
7 Ways Purefy, Formerly CordiaGrad, Can Save You Money on Student Loans
Student Loan Hero
When it comes to saving money on your loans, every little bit helps. Our partners at Student Loan Hero highlight 7 ways we can save you money.
Check out some of the highlights below or read the full post.
Purefy offers three alternative options meant to reduce this payment period. Five-, eight-, and 12-year lifetimes are meant to give you flexibility while also helping those who want to cut down time but still have lower payments. For example, a person with a 15-year loan can refinance to a 12-year term and still save thousands of dollars.
This program, which gives you $200 per enrollee you refer, is a win-win for both you and the company. Purefy gets to reach additional qualified applicants like yourself, and you can walk away with $200 towards your student loan payment.
Unlike larger banks and lenders who actively discourage you from paying your loans off early, Purefy doesn’t charge a cent for pre-payment penalties.
Local Bank CEO Steps Down, Spins Off Student Loan Startup
Want to know more about our background and the new direction? This article focuses on our founder’s history of successful startups and what’s next for CordiaGrad.
“The spin-off and Zoeller’s departure occurred for several reasons, Zoeller said, one of which is that he has a penchant for startups. Zoeller, who turned 67 last week, has started seven companies in his more than three decades in finance. Most have involved loans, insurance and risk management.”
“Someone labeled me many years ago as a startup and turnaround guy,” said Zoeller. “I’ve got the competitive and entrepreneurial juices in me for sure.”
Read the full article.
CordiaGrad is Now Independent
Our former parent company, Bank of Virginia, has sold CordiaGrad to our founder, Jack Zoeller. The divestiture will allow us “to execute a more aggressive strategy to transform the student loan market by delivering lower-cost loans to college graduates saddled by student debt.”
“CordiaGrad has reached an inflection point at which we can best accelerate our growth as an independent company,” said Zoeller. “Student loans represent a $1.3 trillion burden on the U.S. economy, a greater volume of debt than either auto loans or credit cards. By helping more people proactively refinance their student loans, we can provide financial security for a generation of young adults weighed down by student loan debt, and play an even bigger role in fixing a student loan system everyone knows is broken.”