We think it’s very important for students to fulfill their educational goals. That’s why we offer a number of different scholarship opportunities and Smart Option Student Loans® to ensure students and their families have the funding they need to turn a career dream into reality.
Even though this section is devoted to loans, we want to make sure that students and parents are aware of the significant investment we make in our student members each year via scholarship awards. Before applying for a loan, we encourage you to research financial aid through scholarships and grants. Here are two that are available to Bronco student members:
The John Alan Glasgow Memorial Scholarship
Offered in memory of a Class of 1999 Franklin High School student who died in a tragic car accident, the John Alan Glasgow Memorial Scholarship is available to college-bound seniors who are members in good standing of Bronco FCU. The Scholarship Committee makes its selection based on accomplishments in scholastics, school activities, community involvement, civic activities and contributions to the betterment of the communities we serve.
Applicants must have applied to an accredited college or university and the recipient must have been accepted prior to payment of the scholarship. Students who have applied for, or received, other scholarships are still eligible to apply. Applications are generally accepted January through April of each year and scholarships are awarded in May.
The John Alan Glasgow Memorial Scholarship recipient receives a $10,000 award. In addition, we award a number of Bronco Scholarships each year (ranging from $2,500 to $5,000) to deserving student members.
The Jack E. O’Connor Memorial Scholarship
Presented by the Tidewater Chapter of Credit Unions (of which Bronco is a member), the annual Jack E. O’Connor Memorial Scholarship awards a minimum of $500 to graduating seniors who are members of a chapter credit union. Applicants must be in need of financial assistance and must have made an application to a college or university. Applications are usually accepted January through April of each year and scholarships are awarded in May.
Filling in the Financial Gaps for College | Smart Option Student Loans®
If you’ve already been through the processes of applying for available funding and you find you’re still coming up short when it come to expenses not covered by scholarships or federal loans, we’ve got you covered. Bronco has teamed up with loan giant Sallie Mae to offer a new product called Smart Option Student Loans®.
Smart Option Student Loans® give you two very affordable options. Both allow you or your student to make small monthly payments while still in school, thereby reducing the loan burden immediately—as opposed to traditional student loans that defer payments until after graduation. By doing so, and through great rates and fixed repayment or interest repayment choices, Smart Option Student Loans® can save you thousands of dollars in interest, making it possible to pay off loans years earlier.
By paying only $25 per month while still in school and then slightly more six months after graduating, the Fixed Rate option can save you up to $6,000 over traditional 15-year, payment-deferred private student loans—and you’ll be able to pay back the loan five years sooner. With the Interest Payment alternative, you’ll pay a little more up front each month, but you can save as much as $8,000 and pay back the loan eight years sooner. In either case, what a relief for a young adult just starting out!
Smart Option Student Loans® have no origination fees, there is the ability to manage your loan account online 24/7, and the application process only takes about 20 minutes. Enroll in auto debit and you can lower your rate to save even more money over the life of the loan.
In addition, you can earn even more for college through Upromise® Rewards. By simply making your scheduled monthly payments on time while in school, you can earn a 2% Smart RewardSM Benefit.
Learn more about Smart Option Student Loans® by clicking here and scrolling to the bottom of the page. Click on the ad at the bottom that reads, “Now you can pay for college the smart way.” It’ll connect you to the Bronco-specific page on Sallie Mae’s site.
Working with our members to make the most of educational opportunities is vitally important to us and our Smart Option Student Loans® partnership with Sallie Mae is another way we can help. We realize that all of the changes and options can be a little overwhelming, even mind-boggling, which is why we’re always here to provide you with any level of guidance and advice—from answering simple questions to breaking down the complexities of the loan enrollment process.
Stop by any Bronco office and speak with one of our Loan Specialists, or give us a call at 757.562.6000 if you’d like to set up an appointment to go through everything step by step. After all, we’re here for you.
Not a member yet? Give us a call today at 757.569.6000.
