Originally posted on VentureBeat:

body buildingPresident Barack Obama only paid off his student loans about nine years ago. If StudentLoanHero was around back then, he may have been able to pay them off sooner.

StudentLoanHero is a startup that gives student borrowers tools to repay their loans faster. The company just closed a seed round with Expansion VC and was accepted into the latest batch at the Socratic Labs EdTech Accelerator in New York City.

Students and grads carry more than $1 trillion in student debt right now, and 65 percent of borrowers misunderstand their student loan obligations

“Unlike the mortgage crisis, student loans are not dischargeable through bankruptcy, nor do you have an asset to liquidate,” said CEO Andrew Josuweit in an interview. “Student Loan Hero is on a mission to not only help the 37 million borrowers with outstanding loans but to also pave the path for greater financial literacy and transparency. At…

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