CU Campus Resources has announced the launch of a new private student loan consolidation program with Notre Dame Federal Credit Union.
Members in or out of school can use the consolidation program to refinance student loans from other financial institutions or consolidate current loans through the 60,000-plus-member Notre Dame FCU in order to reset or extend their repayment term.
"Much has been written on the increasing burden of student debt," said Rick Burden, senior vice president of lending at Notre Dame FCU. "Through loan consolidation, Notre Dame FCU members now have an option to combine multiple loans into one payment and, in many cases, lower their interest rates on existing loans. This will be a nice addition to our current private student loan product offerings."
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CU Campus Resources, a wholly owned CUSO of the $1.4 billion UW Credit Union in Madison, Wis., said it was able to customize a program for the $426 million South Bend, Ind.-based-Notre Dame FCU tailored to their members' needs. This consolidation option will be a valuable resource for students that will help them manage their debt during school and after graduation, the CUSO and credit union said.
"We're excited to partner with Notre Dame FCU to launch a private student loan consolidation product," said Mike Long, COO at CU Campus Resources. "Through product innovation, we're now able to provide our clients with a highly customizable solution to serve their members and help credit unions achieve their strategic objectives."
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