Credit Unions Sound the Alarm on Student Loan Procrastination — Urge Families to Lock in Flexible Line of Credit Before Fall Deadlines

Global Economic Press

In this episode of Global Economic Press, Alex Brady delves into the critical issue of student loan procrastination and highlights how credit unions are providing a flexible solution for families navigating education financing. CU Student Choice, a prominent provider of education financing solutions, is spearheading a nationwide initiative to help students and families avoid the pitfalls of last-minute borrowing and long-term debt. Supported by a network of over 200 credit union partners, their flexible, multi-year education line of credit offers a smart, reusable alternative to traditional private student loans. This initiative is particularly timely as tuition deadlines approach, and financial decisions become increasingly urgent.

The Student Choice platform aims to offer families an alternative to traditional private student loans, which often require borrowers to estimate their total cost of attendance upfront and reapply annually. Unlike most private loans, the Student Choice model allows students to draw on funds over multiple academic years, adjusting borrowing based on scholarships, financial aid, or changes in academic plans. This approach helps avoid interest on unnecessary funds and provides a financial safety net. The program, which has already assisted 132,000 families, offers a one-time application for multiple years of borrowing, no origination fees or prepayment penalties, and support from real credit union representatives. As families face a confusing borrowing environment with federal student loan debates and rising interest rates, credit unions are stepping up to offer a more transparent and flexible alternative. For more information, visit CU Student Choice.