FedEx Employees Credit Association is proud to offer our members the lending solutions they need to make higher education obtainable for their children – or themselves. The cost of attending college continues to rise and there is often a gap between what free aid (grants, scholarships) and cheap aid (Federal Stafford Loans) covers compared to the total cost of attending college. Once students have applied for free and cheap aid, they may still have a tuition gap that needs to be covered. This is when a private student loan can make college attendance possible. We’ve teamed up with Student Choice to help you fill the gap in your tuition needs.
Why Student Choice?
- No Origination Fees – Other private student lenders charge origination fees, many around 3%.
- Extremely Competitive Rates – FECA sets our own rates, ensuring that significant value can be gained by our members when compared with other private loan options. (Note: Rates are variable and can adjust on a quarterly basis depending on index.)
- Line of Credit Structure – Instead of applying each year for private financing, in the Student Choice program only one application is necessary to secure financing for an entire college career* making the process much easier for students.
- Flexible Repayment Options – While in school student have several options including: Full deferment of principal and interest, Interest-only monthly payments, or Principal and interest monthly payments.
- Fully Automated Processing – Instant credit decision, electronic school certification, electronic funds transfer to schools, and fast processing time for incoming loan origination forms.
*Subject to credit qualification and annual credit review.
For more information, visit the Student Choice Lending Center.Click Here