ROCHESTER, N.Y. –The Summit FCU here said it has selected Credit Union Student Choice to provide it with higher education financing solutions for both private student loans and student loan refinance.
The Summit will offer in-school financing for both undergraduate and graduate students, as well Student Choice’s refinance product.
“Since 1941, The Summit has been focused on supporting and contributing to the communities we serve,” said Mark Gregory, VP-lending for The Summit. “We have offered private education financing options to our members in the past but are looking forward to working with Student Choice to deliver a broader scope of private student lending solutions to our membership. Student Choice focuses on innovative solutions, personalized service, and financial education just as our credit union does, and we are excited to partner with them.
Individualized Counseling
“Student Choice provides educational webinars, one-on-one support, and individualized counseling to help borrowers truly understand the lending process,” Gregory added. “Paying for college or repaying student loans can be confusing and overwhelming for families; the tools Student Choice provides help make the process easier to understand so students can make responsible choices about paying for college.”
Student Choice said it enables credit unions of all sizes to make private education loans that are held on their own balance sheet. Since launching in 2008, the organization has helped nearly 300 partner credit unions originate $3.2 billion in private education loans to more than 100,000 families.
‘Great Deal of Upheaval’
Added Scott Peterson, president and CEO of Student Choice, “Consumers have faced a great deal of upheaval in the past few years and need trusted, local financial institutions they can rely on. Like The Summit and all our credit union partners, Student Choice focuses on fair-value lending that can build lifelong member relationships. In our case, that means convenient education funding solutions paired with personalized resources to help borrowers make educated decisions today and in the future.”
The Summit FCU sad it is offering a $250 cash bonus offer for those choosing to refinance their student loans through the credit union through June 31st.