When scholarships, grants, and federal aid aren’t enough, private student loans can be a necessary and cost-effective way to help students fill educational funding gaps.
These loans are in the name of the student but often require a co-signer in order to meet credit criteria. They are not guaranteed or subsidized by the government. Instead, they are based on the student’s credit and/or the credit of any co-signers.
Student Choice encourages undergraduate students to review all of their options and make it clear that they should consider private student loans only after taking advantage of all lower-cost sources of funding, including Federal Stafford loans.
How is the Student Choice private loan solution different than other private student loans?
Credit unions exist only to serve the best interests of their members. The Student Choice solution is offered exclusively through participating credit unions and features zero origination fees, lower rates, a convenient line-of-credit structure, and more flexible repayment terms than many other lenders.
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