Seeing an opportunity to mitigate the growing problem of student loan debt, student finance companies such as SimpleTuition and Sallie Mae are expanding debt management offers, including the use of card payment rewards.

"Student loan debt has become a big part of our society. About a year ago, we started thinking about what we could to impact that debt, not just with tools and resources, but with a product that would allow people to do something," says Patrick Kandianis, co-founder of SimpleTuition, a Boston-based company.

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