Per the NY Post, a new website called www.tuitionbids.com is now helping college students get lower percentages on their student loans. The website, founded by Keith Alliotts, says the site is a one-stop shop for lenders to compete for customers and for students who wish to have several loan options when searching for a lender.

Alloitts says, “Too often, students accept the first loan offer they get and too often it is priced too high. They don’t know what deal they should be offered.” So the site will allow up to six lenders to bid for student customers at one time. This way students can choose which offer is best for them.

In the end, this route will help save students money and make banks earn your business.

Tuitionbids.com launched in March and now sees over 200 loan applications a day. (Source)