Service Credit Union Helping Students to Pay Off Loans Faster and Save Money

Portsmouth N.H. (June 7, 2016) Service Credit Union and Sallie Mae have partnered to offer a private student loan that can help students save money and pay off their loan faster than other alternatives. After exploring grants, scholarships, and federal loans, a private student loan can be a responsible and affordable way to cover any gap in college financing. Available for students attending degree-granting schools, the Smart Option Student Loan offers competitive pricing, payment flexibility, and no upfront fees. The Smart Option Loan also offers families the opportunity to design a private student loan that meets their needs. Members may choose from three repayment options; interest-only payments while in school; fixed monthly payments while in school; or payments deferred until after school. A typical freshman who makes interest-only payments while in school can benefit from an average savings of almost 25 percent on total loan cost compared to freshman students who defer payments until after school. Also, all Smart Option Student Loans are certified by the schools financial aid office to help ensure customers do not borrow more than needed. �"Service Credit Union is delighted to partner with Sallie Mae to assist families seeking responsible solutions to make the investment in a college education," said Fawn Terwilliger, Vice President of Lending at Service Credit Union. Sallie Mae is the nations saving, planning, and paying for college company and has helped more than 34 million Americans make college happen. �The company offers products that promote responsible personal finance, including private student loans, Upromise rewards, scholarship search, college financial planning tools, and online retail banking. Over the last year, the company introduced new products to help families save for college, launched initiatives that encourage families to plan for college, conducted research and partnered to create materials to help families understand and manage credit, and continued to offer competitive private education loans for students and now parents to cover any gaps in college financing. Service Credit Union is a full service financial institution with 225,000 members worldwide, offering a wide range of financial products to its members.� With 54 branches including two staffed 24/7 contact centers, Service Credit Union serves anyone who lives or works in New Hampshire, 4 towns in Cape Cod, MA., and all branches of the U.S. Military and Department of Defense employees and their families. With over $2.9 billion in assets, Service Credit Union has 34 branches in New Hampshire, one in Massachusetts, one in North Dakota, 16 branches on U.S. military bases in Germany and online and mobile banking services.