Great College Planning News for BECU Members

Over the last few years, as college costs have increased dramatically, more and more we are hearing parents express concern over funding their child's college education--without sacrificing their retirement savings in the process. Currently, the cost of a college education is between $16,000 and $60,000 for one year and for one child.

The great news is that BECU now offers a free web-based college planning service for members that can help you make smart, informed college planning and funding decisions and save money on your out-of-pocket college costs.

This online service is offered through our collaboration with Collegiate Funding Solutions (CFS). CFS is widely regarded as the premier provider of web-based college planning and funding solutions.

By investing a few minutes, you can obtain your own custom college planning and funding report that can help you better prepare and pay for college whether your child is eight months or 18 years old and whether your income is $50,000 or $500,000 a year.

If your college-bound student will soon be heading off to college, BECU Private Student Loans can also help you cover your out-of-pocket college costs.

Get Started
Visit Collegiate Funding Solutions and invest a few minutes in using this free service to take concrete steps toward helping your child pay for college--without you going broke in the process.
 
Valuable Tips on Paying for College
Valuable Tips on Paying for College

The cost of college is on the rise and finding the money to invest in higher education can be challenging. If you don't already have the money to cover the expenses of college, here are three options to consider:

   1. Free money is always the best option. So apply for as many scholarships and school grants as you can. College Scholarships is a good website that gathers available scholarship and grant opportunities for you to view all in one place, along with helpful application tips.
   2. Next, consider a government loan based upon your financial needs such as a Stafford Loan. To determine your need, fill out a Free Application for Federal Student Aid (FAFSA). The worksheet will take into account your estimated college expenses and any financial aid and scholarships you will receive. The Student Aid Report you receive back will tell you how much your family is expected to contribute toward college expenses. The difference between that and the cost of attending college is the amount you may be able to borrow.
   3. Once you have exhausted the resources available through scholarships, grants and federal aid, you may still find that you still have a gap to fill in order to cover all the expenses of college--room and board, books, tuition etc. This is when you should consider a Private Student Loan. A Private Student Loan can help cover college expenses when other aid falls short.

Benefits of a BECU Private Student Loan

    * Undergrads may qualify for up to $75,000 during their college span; Graduate MBAs may qualify for up to $100,000
    * No origination fees
    * Deferment of payment and interest while in school
    * Up to 25-year repayment term and no pre-payment penalties

To apply, visit BECU Private Student Loan or call Credit Union Student Choice at 866-253-5967.