AUSTIN, Texas – Greater TEXAS FCU is partnering with North Texas Higher Education Authority and Higher Education Servicing Corporation to offer private student loans.
Under the program, which began Wednesday, members can borrow up to $50,000 through the lifetime of the loan with a maximum 10-year repayment plan. They can qualify for a rate reduction once they go into the repayment process. The credit union member must be credit-worthy or have a credit worthy co-signer. The credit union said loan interest rates are very competitive and are capped at a 15% maximum rate.
Applicants are encouraged to exhaust all their federal aid and scholarship options before applying for a private education loan.
Greater TEXAS was involved in the Federal Stafford Loan program until it was eliminated under the student loan reform of 2010.
