CUSO Representing Over 100 Credit Unions Announces New Private Student Loan Offering without Origination Fee
CU Student Lending, LLC, a credit union service organization (CUSO) that developed and manages the cuStudentLoans private student loan program, today announced the launch of its 2011 EdAccess Private Student Loan that features zero origination fees to the borrower.
The new loan product, which debuted officially on May 1st, will be available to all qualified student borrowers for the 2011-2012 academic year. The CUSO’s decision to remove the origination fee comes at a time when student borrowers are faced with escalating tuition costs nationwide, creating a widening funding gap in order to finance their education.
“Providing credit union members and their families a private student loan product with zero origination fees, especially during a time with dramatic increases in tuition costs, is something that is extremely important to us,” said Tom O’Shea, Chairman of CU Student Lending, LLC. “This is just another borrower benefit that makes the cuStudentLoans program, and in particular the EdAccess Private Student Loan, among the best in the industry for students seeking assistance in their education financing.”
The cuStudentLoans program, which currently serves more than 100 participating credit unions, uses common underwriting and pricing in its EdAccess Private Student Loan.
About CU Student Lending, LLC
CU Student Lending, LLC is a leading network of credit unions offering private student lending options to students and families nationwide. Formed in 2010, CU Student Lending, LLC is comprised of over 100 progressive credit unions that built a member-responsive private student loan program using a common underwriting and pricing platform. The program, which consists of both the EdAccess Private Student Loan and EdSucceed Private Student Loan Consolidation, includes loan participations to enhance and mitigate risk.
Thomas J. O’Shea, Chairman
CU Student Lending, LLC
732-388-0477 ext 8117
Web Site: http://www.custudentloans.org
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Filed under: Business
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