CU Student Lending, LLC, a credit union service organization (CUSO) that developed and manages the cuStudentLoans private student loans program, today announced the launch of its 2011 EdAccess Private Student Loans that capabilities zero origination fees to the borrower.
The new loan item, which debuted officially on May 1st, will be offered to all qualified student borrowers for the 2011-2012 academic year. The choice to get rid of the origination fee comes at a time when student borrowers are faced with escalating tuition costs nationwide, producing a widening funding gap in order to finance their education.
Providing credit union members and their families private student loans product with zero origination fees, particularly throughout a time with dramatic increases in tuition expenses, is some thing that is really important to us,” mentioned Tom O’Shea, Chairman of CU Student Lending, LLC. “This is just another borrower benefit that makes the cuStudentLoans program, and in certain the EdAccess Private Student Loan, among the very best in the business for students looking for assistance in their education financing.”
The cuStudentLoans program, which at present serves a lot more than 100 participating credit unions, utilizes common underwriting and pricing in its EdAccess Private Student Loans. Zero origination fees will help parents and students preserve their existing cash reserves for immediate needs while deferring the costs and financing of college till later over the years.
Combined with possibly saving even more money if one rents books online for college, thousands can be saved, with this alternative student loan program.