FORUM Credit Union Announces Partnership with Sallie Mae® to Offer Smart Option Student Loans
Indianapolis, Indiana, August 6, 2012 – FORUM Credit Union announces that it has partnered with Sallie Mae to offer members a private student loan program that helps students save money and pay off their loan faster than other alternatives. The Smart Option Student Loan® assists families as they cover the rising cost of college tuition and offers degree-seeking students interest rates that are among the lowest in the nation as well as in-school payment choices to help them graduate with less debt.
Designed to supplement federal student loans and other financial aid, the Smart Option Student Loan can enable students to cover up to 100 percent of their education expenses. The Smart Option Student Loan rewards responsible members with benefits such as an on-time payment reward and interest-rate discounts for automatic payments.
Members may choose from three in-school monthly repayment options. Depending on the option selected, the typical freshman can save an estimated 17 to 49 percent in interest charges and pay off the loan three to eight years faster after graduation, compared to a conventional payment-deferred loan with a 15-year term.
To offer the Smart Option Student Loan, FORUM partnered with Sallie Mae, the nation’s No. 1 financial services company specializing in education. Since its founding nearly 40 years ago, the company has helped more than 30 million people pursue their educational goals. “Sallie Mae is delighted to partner with FORUM Credit Union to assist families seeking responsible solutions to make the investment in a college education,” said Jerry Maher, senior vice president, Sallie Mae.
About FORUM Credit Union
FORUM Credit Union, with 12 branch locations and anywhere access via the internet or mobile device, serves more than 100,000 members in the central Indiana area. A full suite of financial services are offered, including home mortgages, auto loans, free checking, rewards checking, business checking, health savings accounts, and investment planning. For more information about FORUM Credit Union please visit: www.forumcu.com.
FORUM Credit Union