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Benefits of Private Student Loans in Colorado

As you embark on your educational journey or seek to optimize existing student debt, you might often find yourself grappling with financial realities. Private student loans can provide essential supplementary funding or alternative solutions, especially when you're looking for specific features or to ease repayment. For Colorado public service workers and their families considering their options, Affidian's private loans offer significant advantages:

• Filling the Funding Gap: Federal loan limits may not cover the full cost of attendance, especially for graduate degrees, specialized programs, or unexpected expenses. Our private student loans can provide the additional funds needed to ensure you complete your education without interruption.
• Competitive Interest Rates: When you or a co-signer have good credit, private student loans can offer competitive interest rates, which could lead to significant savings over the life of the loan. Our rates are designed to be affordable for the dedicated individuals we serve.
• Flexible Repayment Options: Affidian understands diverse financial situations. We offer a variety of repayment plans that can be tailored to your needs, including deferred payments while in school (for our In-School loans), interest-only payments, or graduated repayment schedules.
• Loan Amounts Aligned with Need: Private loans often allow for larger borrowing amounts, ensuring you have the resources for tuition, housing, books, and living expenses at eligible schools.
• Optimize Existing Debt: Our Private Student Loan Refinancing program enables you to potentially secure more favorable terms on your existing student loans, simplifying your repayment plan with a single manageable payment and potentially a lower interest rate.
• Support for Parents: For parents navigating the rising costs of tuition, our Private Parent Loan Program provides a dedicated solution to help support your child's academic journey, allowing you to choose terms that minimize the burden of debt.

Understanding Your Private Student Loan Options at Affidian

At Affidian, our Colorado private student loans program is built on our commitment to the public service workers who make our state and local communities stronger. We offer:

In-School Private Student Loans:

Designed for students actively enrolled at least half-time in an eligible undergraduate or graduate program. These loans help cover direct education costs and living expenses, allowing you to focus on your studies.

• • Apply As A Student 

Private Student Loan Refinancing:

Ideal for those seeking to optimize repayment plans, potentially secure a lower interest rate, or simplify multiple existing student loans into one manageable payment.

• • Refinance A Current Loan

Private Parent Loan Program:

For parents looking to help finance their child's college tuition. These loans consider the parents' creditworthiness and offer terms designed to support family financial planning.

• • Apply As A Parent

Exclusivity for Public Service Workers & Families:

While our program is robust, a key differentiator is our focus. Our loans are primarily designed for members who are state and local government employees, teachers, healthcare professionals, first responders, and other dedicated public servants throughout Colorado, as well as their immediate family members. This focus allows us to create loan products tailored to your financial realities.

Personalized Service:

As a local credit union, we offer a personal touch you won't find at larger banks. We'll work with you one-on-one to understand your educational goals and financial situation, ensuring you choose the loan terms that are right for you.

Clear and Transparent Terms:

We believe in upfront and honest communication. You'll understand all the terms, conditions, and repayment options for your loan, with no hidden fees or surprises.

Private Loans vs. Federal PSLF: What Colorado State and Local Employees Need to Know

Many Colorado state and local employees are familiar with the Federal Public Service Loan Forgiveness (PSLF) program. It's important to understand how private loans fit into this landscape.

• PSLF Applies to Federal Loans Only: The Public Service Loan Forgiveness program is exclusively for federal student loans. Private student loans, including those from Affidian, are not eligible for PSLF.
• Strategic Use of Private Loans: This doesn't mean private loans aren't valuable for public service workers. They are an excellent option for:
  • Supplemental Funding: When federal loan limits aren't enough to cover costs.
  • Refinancing Non-PSLF Eligible Debt: Sometimes, older private loans or certain federal loans that you do not intend to pursue PSLF for can be refinanced into a new private loan with potentially better terms. This is a complex decision that requires careful consideration of your individual circumstances, current loan types, and long-term career path.
  • Students/Parents Who Don't Qualify for PSLF: Not every public service role or repayment plan qualifies for PSLF. For those individuals or for parents borrowing on behalf of their child, private loans offer a direct path to funding regardless of PSLF eligibility.
• Consider Your Long-Term Goals: If your primary goal is PSLF, you'll want to prioritize federal loans. However, if federal limits are insufficient, you're looking to refinance existing private debt, or PSLF isn't a factor for your situation, Affidian's private loans offer a tailored and beneficial solution. We encourage you to speak with a financial advisor to understand the best strategy for your specific situation.

Why Choose Affidian’s Private Student Loans Program?

Choosing a credit union for your financial needs means choosing an institution that puts its members first, not shareholders. At Affidian, we're deeply rooted in the Colorado community, and our commitment extends to those who serve it every day.

• Member-Owned Advantage: As a credit union, we are a not-for-profit organization owned by our members. This means our earnings are returned to you in the form of lower loan rates, higher savings rates, and fewer fees.
• Community Focused: We're not just a financial institution; we're a part of the fabric of Colorado. Supporting public service workers and their families is fundamental to our mission.
• Dedicated Local Support: When you call or visit Affidian, you're speaking with someone who understands the local landscape and is committed to providing personalized assistance. You won't get lost in a large, impersonal call center.
• Holistic Financial Solutions: Beyond student loans, Affidian offers a full range of financial services, including checking, savings, mortgages, and auto loans. We can be your trusted partner for all your financial needs throughout your career.
• Resources for Success: We provide resources to help you research schools, understand costs of attendance, and make informed financial decisions.

We’re Here for You Like You’re Here for Us

Colorado's public service workers are the backbone of our communities, dedicating their lives to making our state a better place. At Affidian, we believe in giving back to those who give so much. Our specialized private student loans Colorado program, encompassing in-school loans, refinancing, and parent loans, is designed to provide you and your family with the financial support you need to achieve your educational dreams and career aspirations.

Don't let financial barriers stand in the way of your future. We're proud to be a financial partner that truly understands and appreciates your service.

Ready to explore your private student loan options? Contact Affidian today or visit our website to learn more and apply. Whether you're a student, a parent, or looking to refinance, let us help you take charge of your financial destiny and focus on your education.