Clark, NJ (PRWEB) November 01, 2011
In light of President Obama’s efforts to better manage student loan debt from the Direct Lending Program (DLP) and the Federal Family Education Loan Program (FFELP) with a new federal consolidation option, cuStudentLoans, a credit union service organization (CUSO) that developed and manages a private student loan program comprised of over 125 not-for-profit credit unions nationwide, has reaffirmed its commitment to reducing private student loan debt through its EdSucceed Private Student Loan Consolidation.
“Young people today are faced with extraordinary economic challenges in affording higher-education, especially when entering such a competitive job market upon graduation,” said Tom O’Shea, Chairman of cuStudentLoans, LLC. “Credit unions will continue to respond with responsible debt management solutions, including the EdSucceed Private Student Loan Consolidation, which provides the ability to refinance private student loans after graduation at typically much lower interest rates and considerable savings to the borrower.”
The cuStudentLoans program, which currently serves more than 125 participating credit unions nationwide, uses common underwriting and pricing in its EdSucceed Private Student Loan Consolidation, which has been available to eligible graduates since December 2010.
About CU Student Lending, LLC
CU Student Lending, LLC is a leading network of credit unions offering private student lending options to students and families nationwide. Formed in 2010, CU Student Lending, LLC is comprised of over 125 progressive credit unions that built a member-responsive private student loan program using a common underwriting and pricing platform. The program, which consists of both the EdAccess Private Student Loan and EdSucceed Private Student Loan Consolidation, includes loan participations to enhance and mitigate risk.
Thomas J. O’Shea, Chairman
CU Student Lending, LLC
732-388-0477 ext 8117