Higher education is invaluable. But how affordable is it?
Today’s new economy calls for discovering alternatives in financial aid to make earning a degree within reach. The cost of a college education has increased dramatically over the last 20 years, yet the scholarships and federal loans have not. Many students and families now struggle to bridge the escalating gap between what scholarships and/or federal loans cover and the actual cost of attendance.
“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 traditionally have relied on higher-cost private student loans; finally there is a lower-cost alternative,” says Ed Williams, CEO of Discovery Federal Credit Union.
A PRACTICAL STUDENT LENDING SOLUTION
Now, there is a new private student lending solution called Credit Union Student Choice. Because credit unions are not-for-profit balance sheet lenders, they are uniquely positioned to offer private student loans with:
- zero origination or prepayment fees
- low interest rates
- in-school deferred payments
- graduated repayment options
- easy application process
Designed for real-life convenience, Credit Union Student Choice loans are structured as a line of credit so that students can make multiple draws over the course of their entire undergraduate career.
EDUCATED DECISIONS TO MOVE FORWARD
To discover alternative ways to help you finance your college education, use the online tools and finance calculators to help you make educated decisions that are best for your individual situation.
Discovery Federal Credit Union was founded in 1959 and serves the Greater Reading and Berks County region. For more info on Discovery visit discoveryfcu.org or call 610.372.8010.
BY TARA MCQUILLEN | Director Of Marketing, Discovery Federal Credit Union
