A Unique Way to Fund Higher Education Without the Higher Price Tag
UPPER MARLBORO, Md., June 19, 2012 /PRNewswire-USNewswire/ -- As college students plan their finances for the fall semester, NASA Federal Credit Union's "Credit Union Student Choice" loan program is helping students fill the funding gap that exists after lower-cost sources of financial aid have been exhausted. Credit Union Student Choice is a private lending option that provides a line of credit allowing students to make multiple draws over the course of their undergraduate careers after completing a simple application. With just one application, a student can qualify for a line of credit that will cover the remainder of the student's undergraduate career (up to $75,000).
NASA Federal Credit Union, a not-for-profit financial cooperative owned entirely by its members and operated for the benefit of all who belong, manages Credit Union Student Choice, enabling it to keep costs low and rates affordable. Features include zero origination fees, extremely competitive interest rates, in-school deferred payment, and a graduated repayment option.
"The cost of college education has risen dramatically over the last 20 years, leading to an ever-increasing gap between what scholarships and federal loans cover and the actual cost of attendance," said Debbie Pugh, Vice President, Consumer Lending, NASA Federal Credit Union. "It's not uncommon for students to face funding gaps anywhere between $30,000 and $100,000 over four years of college. To fill that gap, millions of students and families rely on higher-cost private student loans. NASA FCU is very proud to offer Credit Union Student Choice, which delivers real value and meets this pressing need."
NASA FCU offers a website to help members make better educational financing decisions by providing in-depth information on all the financing options available, as well as offering calculators that will actually show them the numbers. To access this information and learn more about NASA FCU's private student loan solution, Credit Union Student Choice, visit www.nasafcu.com/student-loans.
About NASA Federal Credit Union
Chartered in 1949, NASA Federal Credit Union serves the diverse needs of over 80,000 members with a full array of financial services and the strength of more than $1 billion in assets. NASA FCU has been recognized by Kiplinger Finance as one of the seven best credit unions anyone can join.
SOURCE NASA Federal Credit Union