MONTPELIER, Vt. – Vermont State Employees CU is offering three college students breaks of $5,000 each on their student loans under a Student Loan Independence for Today, or LIFT, promotion.
“With our Student LIFT program, VSECU will make the monthly student loan payment directly to the lender for the awarded recipients. For a person with a monthly student loan payment of $350, the $5,000 award will cover about a year of repayments on the college loan, giving the student or graduate time to find a job, build an emergency fund or take care of other financial responsibilities,” said Steve Post, president of the $600-million credit union.
The program is available to any Vermonter who has evidence of student debt. There is one $5,000 award for each of three categories: Financial Need, Service to Vermonters and Financial Literacy. Each category has different requirements, which the credit union said offers opportunities to applicants with diverse interests and talents.
To apply for Student LIFT, one must be a credit union member and currently live or work in Vermont. Anyone who lives or works in Vermont is eligible to become a member of the credit union.