Access the Top 5 Reasons Webinar
1. Surging Consumer Demand. The National Center for Education Statistics projects undergraduate enrollment will grow 8% between 2020 and 2030.
2. Young Adult Member Relationships. Research from Filene indicates members aged 31 to 37 with a PSL have a 5% higher credit card penetration and are almost twice as likely to have a mortgage at the credit union.
3. Two for One. Nearly 97% of the undergraduate private student loans originated by CU Student Choice partner credit unions have a co-borrower.
4. Strong, Stable Performance. The keys are sensible, disciplined underwriting; school certification to verify student enrollment; and restricting loans to students who are attending schools with a proven history of low student loan defaults.
5. High Earning, Long Duration Yield. Credit unions, on average, have been able to recognize a sustainable return (~2.5% ROA) that is on par or better than many other asset classes. And with an average repayment duration of 10 years, these loans deliver strong value over an extended period of time.
Access the webinar to learn more about the top five reasons your credit union should be offering and growing a private student loan solution in 2023.
