Student Lending Matters

Our Student Lending Matters blog offers content for credit unions. You'll find the latest information on the student lending industry, news from Student Choice, market trends, and more. See our posts below!

Results: 85 Articles found.

Student Choice Expands Partnership with Edmit, Giving Credit Unions and Members Free Access to Powerful College Planning Tools

Credit Union Student Choice announced that it has made a significant investment into its relationship with Edmit, an emerging college advising company. As a result, Student Choice partner credit unions and their members will now have free access to Edmit’s innovative college planning and selection tools that help students and families make smarter financial decisions about college and student debt.​


Credit Union Student Choice Announces New Board Chairperson

Credit Union Student Choice announced that Craig Roy, Senior Vice President of Retail Lending at Digital Federal Credit Union (DCU), has been elected to the role of Chairperson by the organization’s Board of Directors.


UMassFive College Federal Credit Union Partners with Student Choice and to Bring Student Loan Repayment Benefits to Employees

Credit Union Student Choice announced that UMassFive College Federal Credit Union is bringing student loan repayment benefits to its employees thanks to a partnership between Student Choice and​


Helping Members Make Smarter College Choices

Recent news has brought to light a college admissions scandal in which wealthy individuals paid for falsified test scores and athletic achievements in exchange for admission to an elite college. This leads to the question - are these elite colleges really any better than a local private or state university? According to an article from NPR, not necessarily. So how can families elicit unbiased data and advice to compare the real costs and benefits a degree from specific colleges and universities?​


Student Choice Opens Operations Management Center in San Antonio

Credit Union Student Choice announced that it has opened an operations management center in San Antonio, TX. The facility will house key members of the credit union service organization’s (CUSO) operations and member support teams.


Student Choice Expands Focus on Helping Credit Union Members with College Planning and Selection via Edmit Partnership

Credit Union Student Choice announced that it has partnered with Edmit to provide credit unions with a branded, online platform that helps members compare real college costs, specific to their income and test scores, to determine the best financial and academic fit.


Student Choice Partners with to Bring Highly Desired Student Loan Repayment Benefits to Credit Unions

Credit Union Student Choice announced that is has partnered with to bring student loan repayment benefits to the credit union space.


Credit Union Student Choice Recognizes KEMBA Financial Credit Union with Honor Roll Award and $5,000 Chip Filson Scholarship

During its 2018 Empower U conference in Nashville, TN, Credit Union Student Choice presented its second annual Honor Roll award, in recognition of excellence in higher education financing, to KEMBA Financial Credit Union. In conjunction with the award, KEMBA Financial will receive a $5,000 Chip Filson Scholarship which they can award to a deserving credit union member or multiple members.


Credit Union Student Choice Marks 10th Anniversary by Creating Foundation and Awarding More than $40,000 in Scholarships to Partner Credit Unions

Credit Union Student Choice announced the creation of the CU Student Choice Empowerment Foundation during its 2018 Empower U conference. In conjunction with the Foundation announcement and the CUSO’s 10th anniversary, the Student Choice Board of Directors authorized a special one-time $1,000 scholarship given to every credit union in attendance at Empower U — a total of more than $40,000 to help credit union members pay for college.


Attend Our Free FAFSA Webinar!

Completing the FAFSA is one of the most important parts of the college financial aid process. Learn more about the FAFSA and the CSS Profile, and online application that collects information used by nearly 400 colleges and scholarship programs to award non-federal aid.


A Tale Of Two “Student” Loans

By offering both in-school and refinance lending, credit unions can appeal to members at multiple stages of life and establish a genuine opportunity for long-term relationships.


10 Takeaways From 10 Years In Private Student Lending

With the peak summer lending season nearly upon us for in-school private student loans, Student Choice reflects on 10 key takeaways that we’ve learned from 10 years of being in the business.


Student Loan Webinar - Recording Now Available

The recording of our recent webinar on student loans is now available.


Credit Union Student Choice Welcomes Seven New Credit Union Partners in Q1 2018

Credit Union Student Choice, the leading provider of higher education financial solutions to America’s credit unions, announced that it has partnered with seven new credit union clients in the first quarter of 2018, pushing its partner total to 275.


FREE Webinar - Applying for Student Loans

As financial aid award letters and offers begin to roll in, you may find scholarships and grants aren't enough to cover your tuition bill. So where do you turn? Learn about types of student loans, why you may need them, and how to use them.


Student Choice Wraps Up “Lend Your Voice” Campaign, Awards Outreach Funds to Five Credit Unions

Credit Union Student Choice recently finalized its fourth annual “Lend Your Voice” campaign, which invites borrowers to share how an education loan from their credit union has impacted their lives. Additionally, Student Choice made donations to the five credit unions whose members contributed the most stories during the campaign.


A Decade of Strong Student Lending from Student Choice

New data from a Credit Union Times article highlights the increasingly important role of credit unions in the private student lending space.


FREE Webinar on Finding Scholarships

Paying for college is likely one of the biggest expenses you will face in life. It’s important to take advantage of low-cost or free options for paying your tuition bill, and scholarships are one of the best ways to get free money for college! In this webinar, you’ll learn essential tips for researching and applying for scholarships, as well as how to best use scholarships to pay for your degree. ​


Student Choice’s Third Annual Empower U Conference Highlights Emerging Opportunities in Education Finance

Credit Union Student Choice recently hosted its third annual Empower U Summit on Sept. 27 & 28 at the InterContinental Hotel in Chicago, IL. As the only event in the credit union space focused on the increasingly important education finance marketplace, Empower U 2017 featured engaging presentations on a variety of key topics, ranging from analyzing loan performance to economic trends to unmasking student


Student Choice unveils new scholarship fund and “Honor Roll” award at Empower U 2017

During its recently held Empower U conference, Credit Union Student Choice honored Chip Filson with the creation of a Scholarship Fund and presented the inaugural “Honor Roll’ Award to BCU.


FAFSA Webinar Recording Now Available

If you missed our recent webinar about completing the FAFSA, don't worry! It's now available to view on demand.


FREE Webinar on Completing the FAFSA

The Free Application for Federal Student Aid is one of the most important pieces of the financial aid puzzle for college students and their families. In this webinar, you will learn how to prepare for and complete the FAFSA, as well as what to expect after completing the FAFSA.


FREE Webinar - Understanding Student Loans

When scholarships and grants aren't enough to cover the costs of attending college, it may be necessary to seek out student loans. During this webinar, Student Choice's College Access Counselor will share information about Federal and private student loans, interest rates and terms, how to apply, and how to track your loans.


Trump to Cut Fed Aid for College Loans, CUs Have Solution

President Trump is planning massive cuts to programs that have helped millions of Americans get affordable college loans, and plans to eliminate a program that offers limited debt forgiveness for some people who go to work for nonprofits. However, credit unions might help ease the impact through expansion of private loan and refinance programs, a student loan CUSO official said.


The New “Rs” In Education Finance

What are the key factors that credit unions must consider when implementing a private student lending program or managing an existing one? Find out in this article!


Free College Planning Webinar – Deciphering Award Letters

Student Choice is committed to providing borrowers and the general public with helpful, educational tools to better understand the financial aid process. As part of that commitment, we offer a quarterly webinar series, led by our College Access Counselor. These webinars are free and available to anyone who would like to attend; to date, hundreds of attendees nationwide have benefited from the presentations. Join us in March!


Credit Unions Are Providing Responsible Student Loan Options

Student Choice continues to make strides to empower credit unions to provide responsible lending solutions to members. Investing in a member’s future is important, but doing it responsibly is paramount to us and our credit union partners. Take a look at our new infographic - The State of Student Lending:​


The Time Is Right For Student Loan Refinance And Repayment Assistance

To attract and retain millennials, companies across the country (including a handful of credit unions) are expanding their employee benefit programs to include student loan refinance options and repayment assistance. With more than 40 million Americans having some level of student loan debt, this should come as no surprise. Read more about the hottest employee benefit of 2017.

Dec 15, 2016 07:52 AM

Millennials In Focus

What recent college grads told us about student debt, what they needed at age 18, and how they chose their bank or credit union.


Lend Your Voice is Back for 2016

Building on the success of the first round of Lend Your Voice, Student Choice is launching the program again this fall to collect even more stories. Borrowers and co-borrowers of a current or past Credit Union Student Choice private student loan can submit their photos and stories now, find out how.​


Changes Come to the FAFSA This Month

You can now submit your FAFSA beginning October 1st of the prior school year. This means if you are attending college for the 2017-18 academic year (as a freshman or returning student), you can submit your FAFSA now!


Second “Empower U” Conference Focuses on Serving Young Adults, Brings Together More Than Forty Credit Unions

Credit Union Student Choice, the foremost provider of higher education financing solutions to America’s credit unions, hosted its second Empower U Summit Sept. 28 & 29 at the Mayflower Hotel in Washington, D.C. More than 60 credit union representatives from 42 credit unions nationwide learned from expert speakers about the current climate of student lending and how to connect with millennials.


Free Webinar - Student Loan Repayment

Entering repayment for your student loans can be just as stressful and confusing as funding your college education in the first place. Credit Union Student Choice will be hosting a FREE national webinar on repaying your student loans to help answer all of your questions.


WPCU’s Mislansky Joins Student Choice Board of Directors

Credit Union Student Choice announced that Tim Mislansky, Chief Lending Officer of Wright-Patt Credit Union and President of myCUmortgage, has joined its Board of Directors.


The Refi Boom Comes to Student Loans

In 2012, there was just one lender offering student loan refinancing for both federal and private student loans – but since then, more than a dozen lenders (representing multiple financial institutions in some cases) have entered the market. From fin tech startups to big banks to credit unions, these lenders are bringing a growing refi boom to the student loan market.


College Prep Webinar Recording Now Available

A recording and webinar materials are available now online for “College Prep: Steps to Success,” led by Student Choice College Access Counselor Patricia Poplicean.


Private Student Lending Leads To More Than Just A Loan

As credit unions evolve and look to expand their offerings and loan portfolios, private student lending has become an increasingly popular solution. However, some believe student loans are a one-time interaction point and not worth the effort of adding an additional product. The fact is that private student loans can be a stepping to stone to lasting, valuable relationships with young adult member​


A New Year And A New Look At Private Student Lending Performance

Many lenders — including startups, regional and national banks, and, of course, hundreds of credit unions — are finding success in the PSL space, not only in delivering a much-needed product set (ranging from traditional in-school loans to innovative consolidation options) that connects with young adults, but also in delivering products that will perform in the long-term.


What’s in a Name? Elite Schools May Not Be Worth The Costs

When it comes to choosing a college, students and parents may think it’s worth the hefty price tag to attend a more prestigious school. But a recent article in The Wall Street Journal shows that attending an elite level college may not actually pay off in the end.


How Well Do You Know Millennials?

Millennials – individuals born between 1980 and 2000 – are one of the most important demographics for retailers and financial institutions to reach today.


FAFSA Webinar Recording Available

Our College Access Counselor, Patricia Poplicean, recently presented a free webinar to help students and parents through each step of completing the FAFSA – their gateway to FREE financial aid.


Holt Emphasizes Need for Private Student Lending

Credit Union Student Choice SVP and Chief Revenue Officer Jim Holt was one of the experts on hand to discuss private student lending and the opportunities for credit unions at the CUNA Lending Council annual meeting.


The Building Blocks of Good Credit

If you’re headed off to college for the first time, you may have never given any thought to your credit score or how it affects loans you apply for. You might not even know what a credit score really is. But as you venture closer to being an independent adult, it’s vital that you understand the basics of building good credit.


Why CU Student Lending Works - Part 2

Student Choice President Scott Patterson talks more about the benefits of student lending for credit unions and success stories about how credit unions can step up in the student lending arena to create life-long member relationships.


Earn an “A+” in Budgeting

Going off to college is probably one of your first big solo adventures. Along with the freedom to make your own decisions comes the responsibility of having to manage your money. We’ve got some great advice on ways to earn an “A+” in financial management


Why CU Student Lending Works

Credit Union Student Choice President Scott Patterson discusses how credit unions can benefit from offering private student loan solutions — along with why it’s a growing trend, how it works, the state of student lending today, and more.


Easing Parents' Minds with Holistic Financing Solutions

According to a recent Gallup Poll, paying for college is the top money concern for parents of children younger than 18 years old. In fact, more than seven in 10 parents indicated they were “very” or “moderately” worried about the issue. When families turn to their financial institution to help them through major life events they are seeking experts who can put their minds at ease.


Student Choice Creates College Access Counselor Position to Help Families Navigate Obstacles of Attending College

To help its credit union member families navigate the various obstacles of attending college today, Credit Union Student Choice, the foremost provider of higher education financing solutions to America’s credit unions, has created a College Access Counselor position. Filling this new role is former Elements Financial FCU Student Lending Manager Patricia Poplicean, who started on June 1, 2015.


$2.6 Billion TDECU Partners with Student Choice to Offer Education Finance Solutions

TDECU, with approximately 215,000 members and more than $2.6 billion in assets, recently partnered with Student Choice to deliver both in-school and consolidation loans to its members. “As a full-service financial cooperative, it is imperative that we support the needs of our members as they pursue their higher education goals,” said Chuck Smith, TDECU’s Chief Lending Officer.


Managing Your Money Has Never Been Easier

It used to be you had to actually get in your car, drive through traffic, and wait in line at your bank (yes, the actual branch) before you could do anything with your money — get cash, check on your balance, transfer money or deposit checks. Now all it takes is a few clicks of your mouse or taps on your cell phone and all your banking is done.


Student Choice Addresses Regulatory Burden, Hiring Student Lending Compliancy Expert Renee Buckner

In order to deepen its regulatory and compliance expertise, as well as broaden the level of support it provides to partner credit unions, Credit Union Student Choice, the foremost provider of higher education financing solutions to America’s credit unions, has hired student lending compliance expert Renee Buckner as Vice President of Regulatory Control and Compliance.


How Credit Unions can help with Financial Literacy

Preparing for college can be one of the most stressful times for young adults and their families. Not only are they concerned with the costs of tuition, books, room and board, but this will be the first time many students have lived on their own.


Private Student Loans - The Truth about Delinquency

If you’ve read articles about the student debt crisis and default rates, you may be leery of instituting or expanding a program at your credit union. However, a closer examination of the data shows that private student loans are not at the heart of the problem.


The New R's In Education Finance

While these well-known “R’s” may be outdated in today’s education world, back in 2011 we showed how they could serve as a helpful tool for credit unions that were evaluating the risk and rewards of private student lending. But just as standards have changed in education, so has the landscape shifted for education lenders.


[Video] How to Fill Out the FAFSA in 7 Easy Steps

Filling out the FAFSA can be scary and overwhelming to many students and parents when looking for financial aid. Luckily, through our partnership with iGrad, we are able to share this great video with you which takes you through that process in seven easy-to-follow steps.


Student Choice Bolsters Service in Southwest with Addition of Eric Sanchez

Washington, D.C. (January 22, 2015)—Credit Union Student Choice, the foremost provider of higher education financing solutions to America’s credit unions, announced that it has hired Eric Sanchez as Manager of Strategic Partnerships. Based in San Antonio, TX, Sanchez will develop and manage credit union relationships in Texas and the southwest region of the country.


FAFSA Tips – Quick Hints to Filing your Free Application for Federal Student Aid

Your FAFSA should be completed as soon as possible, starting right now! Yes you need the information from your 2014 tax return, but don’t wait until you’ve completed your taxes to start on the form. You can use estimated figures and go back and fix them once you’ve completed your taxes. keep reading for more tips and tricks.


Student Choice Enhances Operational Expertise with Addition of Mark Putman

Washington, D.C. (January 12, 2015)—Credit Union Student Choice, the foremost provider of higher education financing solutions to America’s credit unions, announced that it has hired student lending industry veteran Mark Putman as Vice President of Product Operations.


Financial Aid Deadlines for 2015 – File Early!

New year and new deadlines. They’re everywhere when you’re getting ready for college. Deadlines for graduation, to apply for college, scholarship applications, and financial aid. You probably have a lot of dates floating around in your head, especially if you’re applying to numerous colleges. It’s a good idea to keep track of all those dates in one spot – a Google calendar, your phone’s calendar, ​


Last Minute Gift Ideas - Smart Budget Shopping

With so few days left in the holiday shopping season, it is easy to find yourself buying last minute gifts that take you way outside of your budget. Friends or co-workers that you may not have included on your shopping list suddenly surprise you with a nicely wrapped, thoughtful gift and the waves of panic and guilt set in. Continue reading...


Why You Shouldn’t Avoid Student Loans Altogether – The Surprising Downside of Steering Clear of Student Loans

Trying to Avoid All Student Loan Debt? Not So Fast! As someone who has actively used student loans to help finance my own undergraduate and graduate degrees along with my husband’s law degree, I have seen the benefits of taking on student debt to achieve specific goals firsthand. My husband is a practicing attorney and I have been steadily employed in the financial services industry ever…


College Roommate Survival Guide

I just spent the weekend visiting my college roommate. Why is this noteworthy? Because I graduated a LONG time ago and we’re still close friends. I feel lucky to have had her as a friend all these years. Is what I have unusual? Maybe. While there’s no guarantee you’ll…


A Quick Guide to Study Groups

I remember struggling in an intro chemistry class. I was totally lost and knew I needed help. I decided that a study group was the solution, so guess what I did? I asked the smartest guy in the room if he wanted to form a group with me. He…


How Do Student Loans Affect Your Credit Score

We recently talked about how your credit (or lack thereof) can affect your eligibility for student loans. But there’s another important way student loans and credit are tied to one another. Once your student loans go into repayment, the way you handle those payments can have an impact on your credit score - for better or for worse. Continue reading...


Student Choice Launches iGrad Financial Literacy Platform

Credit Union Student Choice, the leader in higher education financing solutions for America’s credit unions, recently launched an innovative financial literacy platform in partnership with iGrad, an award-winning provider of financial education tools and resources. The platform is aimed specifically at college students and recent graduates to help them make


Veteran Risk Analyst joins Student Choice to Help Credit Unions Maximize Portfolio Performance

Washington, D. C. (June 9, 2014) – In order to help credit unions more effectively manage their growing student loan portfolios and return maximum value to both borrowers and the cooperative, Credit Union Student Choice has hired data analytics and risk expert Brad Bowland in the newly created position of Vice President of Portfolio Analytics.


Is College Worth It? Clearly, New Data Say

Some newly minted college graduates struggle to find work. Others accept jobs for which they feel overqualified. Student debt, meanwhile, has topped $1 trillion. It’s enough to create a wave of questions about whether a college education is still worth it. A new set of income statistics answers those questions quite clearly: Yes, college is worth it, and it’s not even close! continue reading...​


American Eagle FCU Partners with Student Choice to Offer Private Student Lending Solutions

Washington, D.C. (April 30, 2014)—Credit Union Student Choice, the foremost provider of higher education financing solutions to America’s credit unions, announced that American Eagle Federal Credit Union of Glastonbury, Connecticut ($1.4 billion in assets) has partnered with Student Choice in order to deliver a private student lending program to their members.


College Students and Grads to Benefit from Student Choice iGrad Partnership

Credit Union Student Choice, the foremost provider of higher education financing solutions to America’s credit unions, has announced a new partnership with iGrad, an award-winning source of financial literacy tools and resources. Together, the organizations will work to empower students and their families to make effective personal finance, student loan, and career decisions.


Student Choice Strengthens Strategic Partnerships Team with Addition of Industry Veteran

Credit Union Student Choice, the foremost provider of higher education financing solutions to America’s credit unions, announced the addition of Ben Carey to its expanded Strategic Partnerships team.


Student Choice Promotes Patterson to President

Credit Union Student Choice, the leading provider of higher education financing solutions to America’s credit unions, announced that Scott Patterson has been promoted to the role of president. Patterson served as executive vice president since the organization’s founding in 2008 and replaces former president Jon Jeffreys, who was recently named Managing Partner of Callahan & Associates. read more>​


Student Loan Refinance: A Call to Arms

The time has come to help young adults saddled with onerous private student loan debt. “If these borrowers could refinance, their debt would be much more manageable. Given today’s historically low interest rates, there is a tremendous opportunity for lenders to take advantage of an underserved market.” - Richard Cordray, Director, Consumer Financial Protection Bureau. Read more...


Working During College - Some Part-time Jobs are Better than Others

Starting college soon and looking for a part-time job? Lots of students are in the same spot you are and there are a few things to think about on your quest. Not all jobs are created equal and your prerequisites will change over time...


Are Federal Student Loans Still the Best Choice?

In light of recent legislation discussions, rate changes and headlines flooding the media, I get this question a lot. Federal student loans have long been considered the “gold standard” for education financing, but is that distinction deserved today? The short answer is yes, but why? We'll examine why federal loans inherited their “King of the Hill” status on the Student Choice Blog.


Is $1 trillion a number we should fear?

The most popular number in higher education today is $1 trillion—the total amount of outstanding student loan debt, according to the Federal Reserve Bank of New York. It’s big and scary... there’s just one problem—the number isn’t necessarily the boogeyman it’s made out to be. That’s because the $1 trillion loan balance is an aggregate number... [read more]


CU Student Loans May Dodge Asset Bubble, Delinquency Rates

From Credit Union Times - From the Wall Street Journal to the activist blog Zero Hedge, economists and pundits have been actively debating this year whether or not a student loan asset bubble exists and if so, when it might pop...However, CUNA Chief Economist Bill Hampel said despite the asset bubble talk, student loans are a good product for credit unions... [read more]


FREE Financial Aid Webinar: "Understanding Your Award Letter!"

We're pleased to announce that the FREE national webinar "College Financing 101: Understanding Your Award Letter" is now available online. Presented by national student lending expert Melissa Hunt - Student Choice’s VP of Client Relations and Education this recorded version covers many of your award letter questions.


Obama Administration Releases “College Scorecard”

During President Obama’s State of the Union address, the President made several notable comments about higher education, stressing the importance of “affordability” and “value” when it comes to choosing a college. In order to help students and parents compare schools and “get the most bang for your educational buck”, the President also announced.... continue reading for more.


Making Sense of Student Lending – Understanding Performance Gaps between Federal and Private Student Loans

Student Choice was recently featured on in an article helping credit unions understand the risks and rewards of student lending including the performance gaps between Federal and private student loans.


Student Choice Strengthens Client Support and Member Education Team with Addition of Industry Veterans

Washington, D.C. (January 30, 2013)—Credit Union Student Choice, the foremost provider of higher education financing solutions to America’s credit unions, announced the addition of Steve Wynne and Tyler Disburg to its expanded Client Relations and Education team.


Student Choice Webinar Helps College-Bound Families

Financial aid award letters are a traditional rite of spring, outlining the costs of college and available financial aid for parents and college-bound students. To help families decode the lingo and make informed financial decisions, Credit Union Student Choice and its 200-plus partner credit unions recently offered a free national webinar to nearly 500 attendees.


Student Choice Partners with CA & NV Credit Union League

Washington, D.C. (October 24, 2012)—The California and Nevada Credit Union Leagues and Credit Union Student Choice, the leading provider of higher education financing solutions to America’s credit unions, recently announced a strategic business partnership between their respective organizations.


Indiana University CU Partners with Student Choice

Washington, D.C. (May 16, 2012)—Credit Union Student Choice, the foremost provider of higher education financing solutions to America’s credit unions, announced that Indiana University Credit Union in Bloomington, IN ($730M in assets) has partnered with Student Choice in order to deliver a private student lending program to their members.


USAlliance FCU Partners with Student Choice

Washington, D.C. (April 16, 2012)—Credit Union Student Choice, the foremost provider of higher education financing solutions to America’s credit unions, announced that USAlliance Federal Credit Union in Rye, NY ($800M in assets) has partnered with Student Choice in order to deliver a private student lending program to their members.


Student Choice Strengthens Client Support and Member Education

Washington, D.C. (February 2, 2012)—Credit Union Student Choice, the foremost provider of higher education financing solutions to America’s credit unions, announced that Tracie McGetrick has joined the credit union service organization (CUSO) as Manager, Client Relations and Education.

Results: 85 Articles found.