RALEIGH, N.C. -- State Employees CU announced yesterday it is investing $1.1 billion to refinance and provide funding for student loans made by College Foundation, Inc., a state agency that provides funding for federally guaranteed student loans.
SECU’s investment will provide a portion of the funding for the 2008-2009 program, which is guaranteed by the North Carolina State Education Assistance Authority.
In addition, members of both State Employees CU and Local Government FCU who have applied for federal and state aid will be entitled to a reduction in the interest rate on North Carolina’s EXTRA Education Loan, a supplemental loan available to help pay educational expenses.
Members will receive information on other financial aid programs for college, such as grants and scholarships, as well as career and college planning.
