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TDECU helps college students achieve dreams with new lending program

HOUSTON, TX (July 22, 2015) — Funding a college education can be a daunting prospect for many. Now, students can get valuable financial guidance and low-interest student loans from TDECU-Your Credit Union.

“A lack of understanding about college-funding options can end up costing students and, sometimes, parents thousands of extra dollars,” said Gary Lanier, TDECU Vice President of Retail Lending. “We strive to educate our members about their financial choices and help them make the best decision possible.”

TDECU recently launched the Student Choice program which aims to fill the gap in covering college expenses after other sources of free funding are exhausted. A TDECU advisor can guide students as they seek scholarships, work-study programs, grants and government aid. And later, if needed, the advisor works with a student to apply for a TDECU student loan. According to a study by College Parents of America, 90 percent of college students reported paying education expenses with credit cards, often with interest rates higher than 20 percent. A student loan from TDECU has a low interest rate and defers payments while a student is enrolled in college courses.

The credit union also is launching a Student Loan Consolidation program, which allows former students to combine multiple student loans, resulting in one low-interest payment, saving thousands of dollars.

“We expect to see high demand from our members as they begin to evaluate ways to cover the cost of a college education,” Lanier added. “This program is another step in helping our members improve their lives.”

For more about the TDECU Student Choice lending program, visit TDECU.studentchoice.org.

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