EAST LANSING, Mich. — The Community Bankers of Michigan (CBM) and College Ave Student Loans, a leading student loan fintech lender, have joined forces on a referral program that enables CBM’s member banks to offer competitive student loan and student loan refinance products to support postsecondary education in Michigan.
The demand from Michigan’s families for private student loans this past year has been significant and will likely increase this upcoming academic season. CBM also believes there will be a continuing demand from young professionals and families to refinance their existing student loans to potentially reduce their monthly payments and simplify repayment for borrowers with multiple loans.
To meet this growing demand, CBM has teamed up with College Ave on a referral program that gives Michigan’s community banks the option to serve their customers and communities by offering College Ave’s competitive interest rates and flexible repayment terms for both in-school and refinance student loan products.
"We are very pleased to join College Ave and its team of industry veterans in offering outstanding private student loan products to our members” said Michael Tierney, the CEO and President of CBM. “This partnership enhances our mission of helping our member banks support their local communities in ways that benefit local colleges, their students and the community. Michigan banks helping local students attend local Michigan colleges is what this program is all about.”
“We understand that college is a big investment for families. At College Ave, we share CBM’s commitment to providing great products, flexible repayment options, and outstanding customer service. We work with students and their parents to make sure they understand their financing options and find an option that works for their budget.” says Joe DePaulo, CEO and Co-Founder of College Ave Student Loans.
About Community Bankers of Michigan
CBM is a 250 member trade association dedicated exclusively to representing the interests of Michigan community banks and their financial services partners, across the state, and supporting membership through advocacy and professional
educational programs. We are also committed to offering the most competitive products and services in the financial services industry allowing banks to support the customers and communities they serve. For more information visit our website at www.cbofm.org [cbofm.org]
About College Ave Student Loans
College Ave Student Loans is simplifying the student loan experience so students can get on with what matters most: preparing for a bright future. As a fintech lending company with a sole focus on private student loans, we're using technology and our deep industry expertise to connect families who need to cover education costs with lenders who can provide that funding. By specializing in student loans, we are able to give our customers the attention they deserve and deliver loans that are simple, clear, and personalized for the individual: we help you find your perfect fit. We offer competitive rates, a wide range of repayment options, and a customer-friendly experience from application through repayment. Visit: www.collegeavestudentloans.com [collegeavestudentloans.com]