College expenses have increased at a rate much higher than expected over the last few decades and federal aid has not changed. That means while a student may qualify for every dollar of aid available from the federal government, they may still find themselves in need of extra money to cover expenses. This is commonly referred to as a funding gap. Most students are faced with the challenge of responsibly filling that gap in order to attend college. Students are borrowing more to meet the cost of higher education and private lenders (like credit unions) have learned from the mistakes of the past and are prepared to offer something better.
Designer Solutions for Students and Their Empty Wallets
Credit unions are not-for-profit financial institutions owned by their members as opposed to profit driven shareholders. Credit unions provide innovative solutions that are designed for students. This is dependent on financial need and circumstances. They can assist students with financing college at a reasonable cost and they even educate borrowers about responsible borrowing and their finances. More private student lending organizations are educating borrowers about the true cost of student loans.
A Financial Institution You. Can’t. Stop. Trusting.
Responsibly paying for college is the best way to avoid any unnecessary long-term debt. Credit unions offer the best financial services, loan rates, along with reliable money management advice. Many credit unions are accustomed to working with students and young adults. If you work with the professionals at a financial institution you trust, you’ll be more successful maintaining a healthy financial history. Credit unions also help borrowers and their members achieve their dream of a college education without the high price tag often associated with private student loans.
The Valley Federal Credit Union offers low interest rates, flexible repayment terms, zero origination or prepayment fees, and a relationship with a local lender that takes your circumstances into account. For more information, contact our main office in Brownsville at (956) 546-3108.