The time has come for your child to spread their wings and head off to college. What is typically an exciting time for a young person can begin with challenges for you as a parent, to be sure that the tuition is paid, and that your student has full access to the funds they need to thrive while not directly under your care. At AmeriChoice we pride ourselves on being there for our members through every stage of life, even life in college.
If all of your Federal loan options are exhausted, a private student loan is a great way to fill in the gaps. AmeriChoice works directly with Student Choice to offer student lending options for 4-year public and private non-profit schools. With a qualified co-signer, students may borrow up to an aggregate maximum of $75,000 and a minimum of $1000 per year. Schools must qualify and be approved by Student Choice to be eligible for a Student Choice loan; a full list of approved schools can be found at http://americhoice.studentchoice.org/approved-schools/.
With no origination or application fees, the process to apply is easy! One application at the beginning of college, with a yearly eligibility review helps to give you peace of mind that all four years you have a loan to draw from as long as you continue to meet underwriting requirements. Students can apply online or over the phone with a Student Choice representative. Since July through September is considered our “peak loan season” applicants should allow 20 business days for completion – from the time the completed loan documents are submitted. Once everything is approved, funds are wired directly to the school and can be used for any education-related purposes, such as books, laptops, housing, meal plans or transportation. The Student Choice program offers no pre-payment penalties, partial or full deferment payment options while in school, and automatic payment discounts for AmeriChoice members. For more details about our student loans, you can contact the Student Choice call center at 1-866-463-4348 or visit www.americhoice.studentchoice.org.
If your student is at school far away, or even if they are nearby, being sure they have access to funds when needed is so important. With all of our convenient electronic services, there is no need to open additional out of town accounts for your child. With online banking, mobile deposit, and online transfers, you can quickly and easily fund your student’s account any time. With the Credit Union ATM Network, your child has over 35,000 ATMs all over the country to use without ATM fees. College is also a great time to teach responsible credit card use. Speak to a Financial Services Representative about providing a credit card for your student to get them started on being financially smart and independent.