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Three Tips to Get Ready for Back to School Expenses


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Going back to school can be an exciting time for students of all ages. Back to school can also mean prepping for expenses well before showing up (or logging in) to class. Forbes estimates well over a thousand dollars in annual educational spending for parents, with costs only rising each year. These costs can add up exponentially when it comes to paying for higher education and tuition expenses. Pioneer Valley Credit Union offers parents and students products and services to help with back to school expenses.

1. Prepare for Tech Expenses

With modern education, it is not unusual for school children of any age to have technology incorporated into their curriculum. When preparing for college or higher education, having the latest tech can improve the overall experience. Being prepared for these expenses can make all the difference! Pioneer Valley Credit Union members have used an Eagle Line of Credit for a variety of circumstances, from paying for costly back to school technology expenses to consolidating debt. Pioneer Valley Credit Union’s Eagle Line of Credit gives you the ability to apply ONCE and access your money at any time* by check, ATM, online or mobile**, borrow up to $25,000***, make affordable payments and conveniently connect to a Checking Account to set it and forget it! Self-manage this unique, Personal Line of Credit on your own terms and access your money at any time. Easily get started with an Eagle Line of Credit by applying online today.

2. Understand Your Student Loan and Higher Education Options

While Pioneer Valley Credit Union offers Private Student Loans, including loans like The Smart Option Student Loan® by Sallie Mae®, members can also utilize a Home Equity Line of Credit to pay for college or higher education tuition. Every individual financial situation is different. When Private Student Loans may not fit for each situation, members should know their options for when it comes to paying for an education. PVCU makes it easy for you! Self-manage a Home Equity Line of Credit on your own terms and access your money at any time—write a check or just transfer your cash to your Checking Account online with no closing costs¹.

3. Consolidate Private Student Debt

Save on your monthly expenses to have more cash in your savings. By consolidating student debt, the monthly amount saved can be used towards other more life enhancing goals, such as buying the latest in tech or even longer term goals, such as saving up for a down payment on a home. The Student Loan Consolidation Solution offered through Pioneer Valley Credit Union can help you to refinance your current private Student Loans into one, low monthly payment. Set it and forget it with Direct Deposit, so there is no extra worrying about remembering dates and deadlines outside of classes and keep your focus on passing the next semester!

*Subject to available credit.

**Data rates may apply.

***Not all will qualify. Membership required.

¹If your loan is paid off within three years of the closing date, you will reimburse credit union for closing costs paid on your behalf. Closing costs will range from $450 - $700. Property insurance is required and is not included in closing costs. Initial draw from your Line of Credit must be a minimum of $5,000. After initial draw, a $1,000 minimum is required each draw thereafter. Minimum monthly payment is $50. Other rates and terms available. Offer may be discontinued or changed at any time. Not all applicants will qualify.

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