DEXSTA FCU Launches Private Student Loan Program Through Cology

Register now

WILMINGTON, Del. – DEXSTA FCU said it has introduced private student loans for college, graduate school and private K-12 through Cology Inc. and Education Loan Source.

Cology will originate and disburse loans for the customized DEXSTA program. With its loan origination platform, Volta, Cology offers DEXSTA expert origination and disbursement technology.

The Custom Loan Source program offered by ELS provides credit unions with the opportunity to develop their own customized student loan products without the need for additional staffing or resources. ELS said it is a turnkey student loan solution which includes every aspect of the student loan process from program design through portfolio management.

Credit unions working with ELS benefit by gaining an in-depth knowledge of the student loan industry, while attracting a more diverse membership base and the ability to design a custom product to specifically meet their goals, the company said. Families benefit by receiving educational funding options in difficult economic times with low rates and terms.

ELS is based in San Diego.

For reprint and licensing requests for this article, click here.
Lending
MORE FROM AMERICAN BANKER