As student loan debt’s threat to retirement grows increasingly clear — at $1.3 trillion, it eats up resources that might otherwise go toward retirement savings — Fidelity Labs, the research and development unit of Fidelity Investments, is beta testing a tool designed to help.
The Fidelity Labs Student Debt Tool, now piloting, is a three-phase program.
The first guides people through ways to manage existing student loan debt and illustrates available options. Part of this phase is an aggregation tool that allows users to evaluate repayment options on the aggregated balance of their loans.
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