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Credit union has new student loan plan

POSTED: April 6, 2013 7:30 p.m.

Interstate Credit Union is partnering with Sallie Mae to offer a private student-loan program.
The Smart Option Student Loan assists families as they cover the rising cost of college tuition and offers degree-seeking students interest rates that are among the lowest in the nation, as well as in-school payment choices to help them graduate with less debt.
Designed to supplement federal student loans and other financial aid, the program can enable students to cover up to 100 percent of their education expenses. The program features an on-time payment reward and interest-rate discounts for automatic payments.
There are three in-school monthly repayment options. Depending on the option selected, the typical freshman can save an estimated 17 to 49 percent in interest charges and pay off the loan three to eight years faster after graduation, compared to a conventional payment-deferred loan with a 15-year term.
Interstate Credit Union has a branch in Midway.
For more information, go to www.iufcu.org or call 884-2754.

 

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