WASHINGTON (10/29/12)--The California and Nevada Credit Union Leagues have partnered with Credit Union Student Choice, a provider of higher education financing solutions to credit unions.
"It's very clear that today's students and families face significant challenges when funding their higher education," said Diana Dykstra, the leagues' president/CEO. "Rising costs and a sluggish economy force many families to rely on private student loans to fill funding gaps after lower-cost sources have been exhausted. By working with a knowledgeable partner to efficiently enter this market, credit unions have a distinct opportunity to deliver much-needed economic value and financial education to borrowers."
A credit union service organization (CUSO), Student Choice is owned by 12 natural person credit unions and several CUSOs. It manages many of the challenges and risks commonly associated with student lending. The Student Choice solution allows a credit union to make school-certified private student loans that are held on the credit union's own balance sheet.