CLEVELAND – Century FCU has signed with CampusDoor to provide the company’s customized private student loans to members through its CU Student HELP Smart Option offered by Sallie Mae.
With the Smart Option Student Loan, students are encouraged to make at least minimal, $25-per-month payments while in school and graduate with less debt. With a shorter repayment schedule, the company said a student can pay off the loan in five to eight years after graduation, compared to the standard 15-year, interest-deferred repayment schedule.
The borrower can choose from several repayment options, including a fixed $25 monthly in-school plan; interest-only payments while in school, or defer payments until after leaving school.
CampusDoor said it will assist with the development and implementation of the loan program and provide specialized customer support to Century FCU members.
