WASHINGTON — Just as some of the major competitors in the student loan business are jumping ship to stem losses from the subprime mortgage meltdown, more than a dozen players in the credit union space have collaborated to form a new entity to bring college loans directly to members.

Credit Union Student Choice made its debut on May 5. Through a layered alliance, the credit union service organization will assist members in securing funding to pay for higher education expenses with no origination fees, lower interest rates and flexible repayment options, according to CUSC.

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