Greater Nevada Credit Union launches new student loan program
Greater Nevada Credit Union (GNCU) is broadening its commitment to helping students pursue higher education by offering new private, non-federal student loan options for qualifying GNCU members attending an accredited four-year university on a full-time basis. Loans are available to cover up to 100% of certified college education costs.
“Greater Nevada is passionate about helping more people live greater, and that includes supporting their educational pursuits,” said Greater Nevada Vice President of Consumer Lending Marcus Wertz.
GNCU’s commitment to funding education also includes a college scholarship program that was established in 1999. Since the program’s inception GNCU has awarded more than $320,000 in scholarships.
The National Center for Education Statistics estimates the number of students expected to enroll in American colleges and universities will rise from 19.9 million in fall 2018 to 20.5 million by fall 2027. According to CNN Money, 40% of people who attend college take out a loan to help pay the cost.
“The number of students needing help financing their education costs keeps growing,” said Wertz. “In addition to providing new student loans, we’re also offering refinance and loan consolidation options.”
GNCU’s refinance and consolidation program enables qualified borrowers to consolidate one or more of their current student loans into a single loan with lower total monthly payments. This benefits borrowers by providing them with more affordable payments and potentially reducing their interest expense over the life of the loan.
GNCU student loans can be financed up to 180 months and have no origination or early repayment fees. In most cases approved borrowers will have the option to sign loan documents electronically for added convenience.
For more information about Greater Nevada Credit Union, open to everyone living or working in Nevada, and its new student loan program visit gncu.org or call (855) 548-4787.