VSECU launches annual student debt repayment program

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VSECU launches annual student debt repayment program

Tue, 08/09/2016 - 10:20am -- tim

Vermont Business Magazine VSECU, a member-owned cooperative and not for profit credit union for everybody in Vermont, is now accepting applications for its Student LIFT debt repayment program. The unique program awards three Vermonters with $5,000 each, to use towards student loan payments. In contrast to typical scholarship programs, Student LIFT aims to empower former students to reduce the burden of student loan debt. Student loan debt can be a significant expense long after students leave college. Research from the Institute for College Access & Success found that 65 percent of Vermonters hold student debt balances, with an average debt of $29,060.

“Scholarships that provide upfront funds to pay for higher education are incredibly valuable for students and families. But we know that the majority of Vermonters still have to take out student loans to pay for their education, and those ongoing monthly payments create a significant financial burden,” said Rob Miller, CEO of VSECU. “Understanding the impact of carrying such debt inspired us to start Student LIFT, which we designed to help alleviate that post-education debt so that former students can afford to meet their essential needs.”

Aligning with its mission to improve the lives of all Vermonters, VSECU’s Student LIFT program challenges qualified applicants to come up with an idea that will help impact and improve our communities statewide. The program, now in its sixth year, awards $15,000 for student loan payments annually. Eligible applicants are members of VSECU that are actively making student loan payments.

For more information, or to apply for Student LIFT, visit https://www.vsecu.com/personal/in-the-community/community-signature-programs/student-lift.

About VSECU

VSECU is a member-owned cooperative and not for profit credit union for everybody who lives and works in Vermont, offering a full range of affordable financial products and services to its member-owners. VSECU is committed to improving the lives of Vermonters by empowering the possibilities for greater social, environmental, and financial prosperity. For more information about VSECU, call 802/800 371-5162 or visit www.vsecu.com.

Source: MONTPELIER, VT, AUGUST 8, 2016 — VSECU