MADISON, Wis. (4/27/12)--UW CU, Madison, Wis., is launching a new exit counseling program for its student loan borrowers.
When a student graduates with a UW CU student loan, they'll be invited to attend a free, educational seminar. The credit union will host in-person seminar sessions to students that are graduating May 2012 or this summer.
Sessions will cover topics such as UW Credit Union Loan information, including estimated payments, repayment options and whom to contact with questions. Also, federal financial aid information, budgeting after college and the ways student loans can affect personal credit history will be discussed.
"Providing financial education is a core business value for our organization," said Mike Long, UW CU executive vice president and chief credit officer. "Our commitment to student success continues well beyond the initial loan transaction. Our intent is to make our program very accessible, so graduates will take advantage of the seminar to get the information and skills they need to make good financial choices."
For this pilot counseling program, in-person sessions are being offered on six campuses--UW-Madison, UW-Milwaukee, UW-Stevens Point, UW-Whitewater, UW Oshkosh and UW-Green Bay. The credit union provides student loans for students attending any UW System school, Madison College or Edgewood College.
UW CU invited roughly 600 students to attend the sessions, Long said. "If this pilot program is as successful as we're hoping it will be, we will look to expand to offer additional in-person sessions at more UW System schools and potentially an online counseling option," he added.