The opportunity for credit unions as private student lenders remains strong, according to Jon Jeffreys, president of CU Student Choice, despite possible big changes in the student lending market outlined in President Obama's 2010 budget proposal.

The proposal includes expanding the size of existing federal loan programs, a provision that would allow the administration to lend directly to students, and the end of the elimination of the Federal Family Education Loan program.

"Shifting all federal student loans into the government's direct-loan program will obviously have a huge impact on lenders who participate in the FFEL program, but it underscores the tremendous opportunity that exists for credit unions in private student lending," said Jon Jeffreys, president of CU Student Choice. "The demand for private student loans, which help students fill the financing gap that exists after federal loans have been exhausted, continues to rise. And the need for lenders who can provide fair loan choices to America's college students has never been greater."