COLLEGE STATION, TX – Aggieland Credit Union and North Texas Higher Education Authority have started a new partnership that will increase borrower benefits for Federal student loan borrowers.
With recent legislative changes passed by Congress, several Federal student loan lenders have recently announced they will no longer fund any new Federal student loans. “Aggieland Credit Union has always been and remains committed to providing cost-effective opportunities for students to attend college” stated Tommy D. Seargeant, President and CEO of Aggieland Credit Union. Unlike many lenders, Aggieland Credit Union completes all student loan processing in College Station. This hands-on approach allows the credit union to insure our members receive the best possible service.
Gregg Baird, Vice President, stated, “We have teamed up with North Texas Higher Education Authority to provide the best possible financial aid option for students. We look forward to a long term relationship that will make our student loan program number one in the nation.”
All loans funded after October 1, 2007 will be transferred to North Texas Higher Education Authority upon graduation or when the loan enters repayment. Jose Guerrero, Regional Marketing Manager for North Texas Higher Education Authority stated “North Texas Higher Education Authority is excited about its partnership with Aggieland Credit Union and looks forward to serving its members for many years to come.”
North Texas Higher Education Authority has an outstanding repayment savings plan, one of the best in the industry. Benefits currently include an automatic .75% interest rate reduction when a borrower uses auto debit to make payments, additional principal reductions up to 6% and the Early Loan Forgiveness Program (ELF) which will eliminate combined account balances below $600.