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UW Credit Union Offers Private Student Loan Consolidation
MADISON, WI (May 22, 2013) UW Credit Union now offers college graduates the opportunity to consolidate private student loans into one loan, giving them one payment to manage, along with one low rate.
“This loan is a continuation of our commitment to offering our members affordable, convenient ways to pay for higher education,” said Sherry Nelson, Educational Lending Product Manager of UW Credit Union. “It ensures we are looking out for members’ best interests beyond graduation.”
Members can either refinance multiple private student loans into one loan or refinance a single private student loan to a lower rate. UW Credit Union is offering the loan based on member feedback.
“Financial need has grown over time while the amount of financial aid has not, making private student loans more common,” said Nelson. “The consolidation product takes the hassle out of managing multiple loans, and the low rates make payments budget-friendly when graduates are settling into careers.”
The loan offers many benefits including a 15-year repayment term, the ability to make interest-only payments for two years and gives members the option to choose between fixed and variable rates. The loans can also be from any college. Recipients can receive one-on-one assistance with questions from UW Credit Union representatives.
“Members can count on us for long-term solutions that make their financial lives easier,” said Mike Long, Executive Vice President & Chief Credit Officer. “When someone chooses us for their lending needs, they’ll find a reliable partner they can turn to and trust for honest advice.”
To learn more about UW Credit Union’s private student loan consolidation, visit uwcu.org/consolidation.
About Us
UW Credit Union is a growing, federally insured financial institution and a leading provider of a full range of financial services to University of Wisconsin communities. UW Credit Union’s 432 employees serve the financial needs of more than 177,000 members through world-class technology systems, and through a convenient network of 21 branch locations and over 95 ATMs. With assets totaling more than $1.6 billion, UW Credit Union is ranked nationally among the leading credit unions. Founded 80 years ago by members of the University of Wisconsin community, UW Credit Union continues to operate as a not-for-profit, member-owned financial cooperative with locations in the Madison, Milwaukee, Stevens Point, Green Bay, Oshkosh and Whitewater areas. Visit UW Credit Union at uwcu.org to learn more.