Once your child gets accepted to college, you should first apply for as many grants and scholarships as possible. If your child is a member of Members CU and plans to enroll as a full-time student in an accredited college, he or she is eligible to apply for a Members CU Scholarship. Eligible members who plan to attend college during the 2014-2015 academic year should complete our scholarship application and return it to MCU by March 31, 2014. The scholarship application is available at http://www.memcu.com/forms-tools/, or you can call 800-951-8000, ext 134 to ask to have an application mailed to you.
If your child is younger, start planning to pay for college early. Having a good financial plan for your family that allows you to save money along the way is a good way to set aside funds for tuition. Being a member at Members CU means you have access to valuable financial education resources. Visit memcu.com/financial-solutions to learn about the free educational articles and one-on-one counseling available to members and their families for free. Learn how to set and keep personal financial goals and make saving for college a priority.
When scholarship and grant money has been awarded but you still need to borrow money, consider federal loans. Then fill in any funding gaps left with a responsible private education loan like the Sallie Mae Smart Option Loan. This loan is ideal for families who choose a private student loan to cover the cost of attending college after they have maximized all scholarship, grant and federal loan opportunities. With a Smart Option Loan there are no origination fees for degree-granting institutions, you can earn rewards for paying on time, there is no prepayment penalty, and you can track your repayment progress online 24/7. To get more information or to apply please visit http://www.memcu.com/salliemae/.
