LOS ANGELES, CALIFORNIA, UNITED STATES OF AMERICA, October 18, 2022 /EINPresswire.com/ -- In August 2022, the Biden-Harris Administration announced a plan, where qualified individuals would be forgiven up to $20,000 in student loans. An important first step, but far from the complete overhaul needed to support millions of people resuming student loan payments, after a nearly 2 year pause due to the CARES Act.

Enter Lever, a fintech company revolutionizing student loan repayments, on a mission to help consumers leverage personalized programs available via the Department of Education. “What the Biden-Harris Administration has offered will go a long way to ease the financial burden of a college education, but for many, it’s a gesture that’s too little too late,” said Lever founder, Trent McKendrick. “For those millions of people, we created an app that will help them pay off student loans and other liabilities without complexity or confusion and give them power over their financial future.”

According to whitehouse.gov, the total cost of four-year public and four-year private colleges has nearly tripled since 1980 (even after accounting for inflation). This helps to explain why a typical student who has taken out loans will graduate with more than $25,000 in debt and among borrowers who attended a for-profit college, 48% will default within 12 years (CollegeBoard).

“Understanding the various available student loan relief programs and determining which you qualify for is complicated and time-consuming. Lever streamlines the process,” explained McKendrick. “My goal in developing Lever is to help people and make a tangible impact in their lives. That’s why we made Lever completely free to use. We launched in September to simplify the steps needed for repayment and to help navigate a path leading people to the life they would've had if they didn’t carry the student loan burden.”

To begin the process of becoming student loan debt-free, anyone can simply download Lever App from the iPhone App Store. After they set up a profile, including their loan provider’s information, the app technology leverages all available U.S. Department of Education support programs—for example, in about 45 seconds, Lever presents the user with all available plans that best suit their needs. Even the forgiveness program set to begin in mid-October can be managed via Lever App. About half of all users qualify for relief and Lever is able to help 99% of them. Lever App also provides a free credit score showing users their financial track record as they pay off student loans and will do the same for other liabilities such as credit cards and auto-loans offering recommendations and smarter ways to pay.

About Lever, The Smart Simple way, to Repay.
Lever is a Student Loan repayment app that automates enrollments, and accelerates repayments, to give consumers effortless savings. Founded in Los Angeles by Trent McKendrick in 2022, Lever wants to help everyday people live thriving financial lives by merging innovative technology with innovative payment solutions. The app is available to everyone at no cost and without any catches. For more information, and to find out how Lever can help you get unstuck from your student loan debt, visit ​​www.lever.app.

Norman Villavicencio
Mannfolk Public Relations
norman@mannfolkpr.com

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