Private-label program aims to allow CUs to hold loans in their own portfolios.
The popularity of Sallie Mae’s Smart Option Student Loan referral program has increased significantly among credit unions since its inception. About 500 credit unions are now participating in the program, which allows them to refer members to student loans that are underwritten, funded and serviced by Sallie Mae and earn...
Although they are outside credit unions' traditional line of products, private student loans present an opportunity to help families pay for college when scholarships, grants and federal loans are not enough to cover the rising cost of attendance.
For credit unions offering private student loans, opportunity is the one common word they are all shouting.