Credit unions fill loan gaps for more students

Credit unions continued to increase their role as secondary lenders for college students last year, with their private student loan portfolios growing faster than those of other private lenders and the federal government. Borrowers requested forbearance on their private student loan payments at a higher rate last fall because of hurricanes and other natural disasters, […]

Credit unions continued to increase their role as secondary lenders for college students last year, with their private student loan portfolios growing faster than those of other private lenders and the federal government.

Borrowers requested forbearance on their private student loan payments at a higher rate last fall because of hurricanes and other natural disasters, according to executives of MeasureOne Inc. during an online discussion Wednesday of their semi-annual report on private student loans.

Total student loans increased 6.3% to $1.5 trillion as of Sept. 30, 2017, according to the Fed’s latest Consumer Credit report. Read more at CU Times.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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