Student Loan Relief via Refinancing
One of the toughest parts of borrowing money for education is paying off the loans, especially if high interest rates are in the picture. That’s where credit unions can come in and offer relief with student loan refinance programs, several experts say.
The National Institutes of Health Federal Credit Union just launched a refinancing program geared toward health care professionals, a demographic that tends to be highly burdened with student debt, the credit union said. The $562 million, Washington, D.C.-based credit union, which serves the health care and biomedical industries, built the “CareerBuilder Education Refinancing Program” in response to requests from its members who are especially strapped due to high costs of living in the Mid-Atlantic region, explained Juli Anne Callis, president/CEO for NIHFCU.