Oct. 16, 2012


Comments

 
 
 
  • I wish more credit unions did this with the new graduates. With rates as low as they are now, it doesn't hurt to try and refinance and save some money for the student. So many students are coming out with no jobs and tons of debt, which is no way to start a new career.
    Danielle
     
     
     
  • As a CU with a very young potential market and plenty of new college grads, I appreciate the emphasis on helping these new adults in their loan payoff process. Often we think of helping them plan for college financing but forget they still need us after they graduate. What a terrific opportunity to come alongside them at a critical time in their financial lives.
    Joline Epple
     
     
     
  • Thank you for working to push the issue of providing credit union members with a way to pursue higher education and to alleviate debt. The Student Loan process is a bit scary for members, and by taking the time to walk through options (both on a student loan side, and overall credit and debt ratio side) is so valuable to grow a members relationship with you.
    K Flory
     
     
     
  • There are several credit unions offering student loan consolidation programs including at least one that will consolidate both federal loans and private student loans. The interest rate is based on your credit risk so having good credit is important but it's no different than when you apply for a car loan or get a credit card so it's pretty easy to apply. Terms of up to 15 years for federal credit unions are available but if your credit union is a state-chartered one, other terms may be available based on their state laws. The good news with a student loan consolidation is you make a single payment and like a mortgage refinance, you get a brand new loan. With a good job and good credit, cosigners are often no longer necessary. You don't know until you apply!
    R Burden