University FCU Slashes Student LoanFees

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AUSTIN, Texas - (04/05/05) -- University FCU has eliminated the 3%fee for student loans, the first of its kind for undergraduates inTexas. Under the program, the credit union is offering a no-feeloan to students, and a 3% rebate on federally insured loans toparents and dependent students. The deal saves students about $150on a $5,000 loan. University Federal is one of the largest studentlenders among credit unions, providing about $70 million a year instudent loans.

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