Greater TEXAS FCU Now Offers Private Education Loans
Greater TEXAS Federal Credit Union
Contact: Rachel Fausett
Title: Business Development Officer
Austin, TX – Greater TEXAS Federal Credit Union (GTFCU) now offers the option of Private Education Loans to its members starting September 7, 2011.
Members attending participating schools can borrow up to $50,000 through the lifetime of the loan with a maximum 10 year repayment plan and can qualify for a rate reduction once they go into the repayment process. The credit union member must be credit-worthy or have a credit worthy co-signer, and loan interest rates are very competitive and are capped at a 15% maximum rate.
Applicants are also encouraged to exhaust all their Federal Aid and scholarship options before applying for a Private Education Loan.
GTFCU is partnering with North Texas Higher Education Authority (NTHEA) and Higher Education Servicing Corporation (HESC) to offer this great loan program to the credit union’s current and future members.
Previously, GTFCU was involved in the Federal Stafford Loan program until the Student Aid and Fiscal Responsibility Act (SAFRA) eliminated the Federal Family Education Loan Program (FFELP) allowing borrowers to select private financial institutions as their “lender of choice” in the summer of 2010.
Visit Greater TEXAS Federal Credit Union online at www.gtfcu.org to find out how to become a member and the eligibility requirements for a Private Education Loan.