Century Federal Credit Union Partners With Campusdoor’s Cu Student Help Program To Offer Private Student Loans And Help Members Pay For College!
Century Federal Credit Union announced today that it has partnered with CampusDoor to offer the CU Student HELP Smart Option Student Loan made by Sallie Mae to help their members meet the rising cost of college while helping them graduate with less debt and pay it off faster after graduation.
“At Century Federal Credit Union we are well aware of the increased cost and financial burden of attending college today, therefore we are pleased to be able to help students and their families within our membership access this much needed private educational loan resource.” stated Tony Coniglio, President/CEO of Century Federal Credit Union.
With the Smart Option Student Loan offered by Century Federal Credit Union, students are encouraged to make at least minimal $25 per month payments while in school and graduate with less debt, compared to other longer-term private loan alternatives in which no payments are made until after graduation. A typical freshman can save 30 to 50 percent on finance charges over the life of the loan. With the loan’s shorter repayment period, a customer can pay off the loan five to eight years faster after graduation, compared to a standard 15-year interest deferred private student loan. The borrower may select from several repayment options including a fixed $25 monthly in-school payment plan, interest-only payments while in school, or defer repayment until after leaving school.
Designed to supplement a student’s federal student loans and other financial aid, the Century Federal Credit Union Smart Option Student Loan can help students cover up to 100 percent of their education expenses. The Smart Option Student Loan features market-leading interest rates that reward responsible borrowers as they pursue their graduate or undergraduate degrees. Also available are benefits such as an on-time payment reward and interest rate discounts for enrolling to make automatic payments.
Century Federal Credit Union recommends private student loans to help bridge the college financing gap after exploring scholarships, grants and federal student loans. By offering the Smart Option Student Loan, Century Federal Credit Union can help its members pay for necessary college expenses including tuition, room and board, books, and even a computer while building a credit history.
As part of the CU Student HELP program, CampusDoor will assist with the development and implementation of the loan program and provide specialized customer support to Century Federal Credit Union members. To offer the Smart Option Student Loan to credit unions nationwide, CampusDoor created the CU Student HELP program and partnered with Sallie Mae, the nation’s leading college funding company. Since its founding nearly 40 years ago, Sallie Mae has helped more than 31 million people make the investment in a higher education.
“Sallie Mae is delighted to partner with Century Federal Credit Union and CampusDoor to assist families seeking responsible solutions to make the investment in a college education,” commented Jerry Maher, senior vice president, Sallie Mae.
About Century Federal Credit Union
Century Federal Credit Union has been serving federal agencies, businesses and associations throughout Northeast Ohio since 1948. Over the years Century FCU has grown into a premier financial institution serving more than 25,000 members with over $313 million in total assets. Century FCU is dedicated to providing our members with quality financial products and services delivered in a professional, personal, confidential and timely manner. For additional information about Century FCU, please visit www.cenfedcu.org.
CampusDoor provides innovative student loan solutions, systems and processing to lenders enabling them to help their customers pay for college. CampusDoor created CU Student Higher Education Loan Program (CU Student HELP) so that credit unions can offer private student loans to their members and help them to achieve their higher education dreams. More information is available online at www.campusdoor.com and www.custudenthelp.com.
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