The Refi Boom Comes to Student Loans

This content previously appeared on creditunions.com
Courtesy of Student Choice

Refi blog graphicIn 2012, there was just one lender offering student loan refinancing for both federal and private student loans – but since then, more than a dozen lenders (representing multiple financial institutions in some cases) have entered the market. From fin tech startups to big banks to credit unions, these lenders are bringing a growing refi boom…

Private Student Lending Leads To More Than Just A Loan

Student Loans About More Than Just The Loan

This content originally appeared on CUtoday.info

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Credit unions often see private student lending as simply an addition to the loan portfolio while also helping to provide a needed service to the community. But one analyst questions whether credit unions also see how the product builds the CU’s future.

Jim Holt, chief revenue officer for CU Student Choice, reminds that private student lending establishes younger…

Holt Emphasizes Need for Private Student Lending

 This content originally appeared on CU Today.

JimDuring the CUNA Lending Council annual meeting, student loans – and especially refi’s – were at the front of the class as a loan opportunity for credit unions, offering low defaults, large balances and attractive margins. Credit Union Student Choice SVP and Chief Revenue Officer Jim Holt was one of the experts on hand to discuss the opportunities…

New Report Shines Spotlight On Student Loan “Crisis”

When many of us think about student loans, we probably visualize a fresh-faced 20-year-old striding across a picturesque campus at a traditional four-year school. If we’re thinking about surging student loan defaults however, that visual would be wrong.

The dramatic rise in enrollment at for-profit schools is best exemplified by reviewing the top 25 schools whose students owed the most federal student loan debt. In 2000, only one for-profit institution appeared on this list. In…

Why CU Student Lending Works

Credit Union Student Choice President Scott Patterson was recently featured on CU Broadcast to discuss how credit unions can benefit from offering private student loan solutions — along with why it’s a growing trend, how it works, the state of student lending today, and more.

 

Watch part one and stay tuned for part two, where Scott shares credit union student lending success stories.

Why Student Lending is a Growing…

Easing Parents’ Minds with Holistic Financing Solutions

According to a recent Gallup Poll, paying for college is the top money concern for parents of children younger than 18 years old. In fact, more than seven in 10 parents indicated they were “very” or “moderately” worried about the issue. This means parents worry more about having enough money to pay for their children’s college education than other Americans worry about any other common financial concern, even more than retirement or medical costs….

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…