Introducing Abe, a Plain, Honest and Borrower-Supportive Student Loan Product

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Jun 03, 2024, 08:30 ET

Private student loan provider uses transparency and product features to deliver an honest and simple student loan experience

BOSTON, June 3, 2024 /PRNewswire/ -- Just in time for the busy private student loan application season, a new product called Abe^SM launches today that seeks to help students get more comfortable, or at least less uncomfortable, with borrowing thousands of dollars to finance an investment in their higher education.

"Abe began with us being honest with ourselves about how customers really feel about borrowing money for college and, perhaps more importantly, their genuine concerns about paying it back," said Seth Gelber, President and Chief Executive Officer at Monogram LLC, creators of Abe. "Students' and their families' heads are spinning with everything that's been going on with federal loans. On top of that, they're often confused about where private student loans fit into the financing landscape."

"All the private student lenders make it relatively easy for students to borrow money," Gelber pointed out, "while Abe uses information and loan features to take the stress out of the hard part – repaying the loan. That's where we're really focused on creating a better, more supportive borrower experience."

Abe brings transparency and clarity to the private student loan process along with distinct product features that better support students for as long as they have their loans. These borrower-supportive product features include:

In-school default protection
Rate reductions for every six months of on-time payments (up to 0.25%)
Expanded grace period and deferment options
Forbearance in case of job loss or illness
A broader range of loan terms (5, 7, 10, 15 & 20 years)
2% loan principal balance reduction at graduation

Abe also acknowledges and supports the changing needs and more diverse lives of today's college students. For example, in addition to traditional undergraduate and graduate school degrees, Abe loans can be used to pay for half-time and less than half-time enrollment as well as post-graduate certificate programs – an increasingly popular way for students to bolster their skills in their chosen field and give themselves a competitive edge in the job market. Abe also welcomes international and DACA (Deferred Action for Childhood Arrivals) students provided they have a U.S. or permanent alien resident cosigner.

For additional information about Abe, please visit abestudentloans.com.

About Abe

Abe^SM provides 'plain, honest student loans' focused on creating more supportive borrower experiences that better meet the needs of today's college students. In addition to clear, transparent information, Abe offers a unique combination of repayment plans, loan terms and deferment/forbearance options for U.S. and international students, candidates for undergraduate and graduate degrees and post-college certificates, and individuals taking different routes to complete their studies. Abe was created by Monogram LLC, the leader in data-driven private student lending products and programs. For more than 30 years, the Monogram team has originated and managed more than $30 billion in private student loan assets. More information is available at abestudentloans.com and monogramllc.com.

Contact: Dawn Ringel, Incenter Marketing
[email protected] or 617-285-0652

SOURCE Monogram