Private Student Loans – The Truth about Delinquency

Private vs Federal Private Student LoansIt’s the dirty word of any lending program – “default.” And it’s particularly scary when it comes to student lending, given all the negative press surrounding record student loan debt in America. 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…

The New “Rs” In Education Finance

Reading. ‘Riting. ‘Rithmetic.

While these well-known “R’s” may be outdated in today’s education world, back in 2011 we showed how they could serve as a helpful tool for credit unions that were evaluating the risk and rewards of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.

So what are some of the new “R’s” that…

Developing a Private Student Lending Program That Lasts

Private Student Loan Balance held by the Credit Union IndustryOver the past several years, hundreds of credit unions have entered the private student lending market. By focusing on several important pillars, these credit unions are delivering a valuable solution to borrowers while also returning positive results to their bottom line.

It may seem daunting to dip your toes into the student lending pool, but the basics…

Who is Responsible for Student Loan Debt?

It was the number heard ‘round the world: American college students have amassed over $1 trillion in student loan debt. To many consumers, that number painted a picture of greedy colleges and lenders cashing in on their American dream. It’s easy in hindsight to point a finger at lenders for taking advantage of borrowers, or at colleges for allowing their students to get in over their heads. Whose fault is it really? There isn’t…

How Do Your Student Loans Affect Your Credit Score

free-fico-score-experian

The impact of student loans on your credit rating

Written by: Sarah Miller for Student Choice

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…

College Student Loan Myths Busted

myth-busted crop

Student Loan Myths – BUSTED!

Written by: Lisa Phelps for Student Choice

The news these days is filled with stories about the student loan burden: students graduating with back-breaking debt, whether or not it’s even worth going to college, and how much student loan debt is ok to have. These are all important topics that college students should pay attention to.

Beware of Scams Targeting College Students

scams targeting college students

Beware of scams that target college students!

Written by: Lisa Phelps for Student Choice

As a new college student, you may be the target of some unlawful folks looking for money, trying to steal your identity or hoping to cause you a lot of unnecessary hassle. International students, who are busy learning about a new country and its culture, are particularly vulnerable to scams,…

How to Manage Your Money in College

$life

iGrad – A New Way to Manage Your Money

Written by: Sarah Miller for Student Choice

When I left for college I’d never had a credit card before, but I opened one to build credit and pay for books.  I transferred my bank account to a local credit union (in the days before online banking), and while I’d always had a part-time job, I’d never really had…

How Does Your Credit Score Impact Your Student Loans?


credit-score

Give Me Some Credit Here!

Written by: Lisa Phelps for Student Choice

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, other than a term used in a catchy TV commercial. But if you or your…

How to Handle Student Loans after College Graduation

college tuition payment plans

Graduation + Loans = Now What?

written by: Sarah Miller for Student Choice

So you graduated college?! Hooray for you! You’ve got your diploma in hand and are ready for all the joys of adulthood – your own place, a job doing something you love, no one telling you what to do. Unfortunately adulthood also comes with responsibility, and that includes paying bills and…