Students receiving new subsidized loans from the government to finance their college education can expect a rise in interest loans to roughly 6.8 percent. This change is expected to only affect a third of the students who apply for subsidized loans. This means that students will see their debt grow.
Many Americans are looking for alternatives to pricey student loans with high interest rates. Many banks offer private loans to help finance school. These loans cover most school expenses from tuition to books and rent. Credit unions are becoming a more common option, due to their lower interest rates when compared to private banks and their extended payment programs. When considering the options in financing your education, it is important to take everything into consideration from interest rate to repayment period. An education is an investment in the future. Making the right investment now makes your future a little easier to manage.
If you are looking for an alternative to financing your or a loved one’s education with a loan call Valley Federal Credit Union at (956) 546-3108. We will gladly answer any questions you may have about our loans or other financing options and help choose the right option for you.