WYOMISSING, Pa., Aug. 1, 2011 /PRNewswire/ -- VIST Financial Corp.
(Nasdaq: VIST) announced today that it has partnered with
CampusDoor to offer the CB Student HELP Smart Option Student Loan
made by Sallie Mae to help their
customers meet the rising cost of college while helping them
graduate with less debt and pay it off faster after graduation. By
simply applying through a secure web site, students can find
options available to them to help pay for college expenses not
covered by scholarships or federal loans.
"As the cost of attending college continues to rise, we are
pleased to partner with Sallie Mae
and the CB Student HELP Program to be able to help students and
their families within our communities tap into millions of dollars
of private educational loans," stated Tina
McDonald, Executive Vice President, Chief Retail Banking
Officer.
Unlike other longer-term private loan alternatives in which no
payments are made until after graduation, with the VIST Financial
Smart Option Student Loan, students make payments while in school
and graduate with less debt, compared to other longer-term private
loan alternatives in which no payments are made until after
graduation. With the loan's shorter repayment period, a customer
can pay off the loan five to eight years faster after graduation,
compared to a standard 15-year interest deferred private student
loan. The customer may select either a fixed monthly in-school
payment plan or opt to pay interest-only payments while in school.
A typical freshman can save 30 to 50 percent on finance charges
over the life of the loan.
Designed to supplement a student's federal student loans and other
financial aid, the VIST Financial Smart Option Student Loan can
help students cover up to 100 percent of their education expenses.
The Smart Option Student Loan features market-leading interest
rates that reward responsible borrowers as they pursue their
graduate or undergraduate degrees. Also available are benefits such
as an on-time payment reward and interest rate discounts for
enrolling to make automatic payments.
VIST Financial recommends private student loans to help bridge the
college financing gap after exploring scholarships, grants and
federal student loans. By offering the Smart Option Student Loan,
VIST Financial can help its customers pay for necessary college
expenses including tuition, room and board, books, and even a
computer while building a credit history.
Students may access a secure web site directly through VIST
Financial website, www.vistfc.com, apply online and receive a
credit result in less than 15 minutes. Applicants may also apply
with a creditworthy cosigner in order to help qualify and receive a
lower interest rate. Students gain the option to borrow up to 100%
of school-certified education costs and can also receive rewards
for paying on-time, in addition to 24/7 online account management.
As part of the CB Student HELP program, CampusDoor will assist
with the development and implementation of the loan program, in
addition to providing specialized call center support to VIST
Financial customers where representatives may be reached at
1-877-458-8285 if assistance or additional information is needed.
To offer the Smart Option Student Loan to community banks
nationwide, CampusDoor created the CB Student HELP program and
partnered with Sallie Mae, the
nation's leading saving, planning, and paying for college, company.
Since its founding nearly 40 years ago, Sallie Mae has helped more than 31 million
people make the investment in a higher education. "Sallie Mae is delighted to partner with VIST
Financial and CampusDoor to assist families seeking responsible
solutions to make the investment in a college education," commented
Jerry Maher, senior vice president,
Sallie Mae.
About VIST Financial
VIST Financial is a 101-year-old, diversified financial services
company with $1.4 billion in assets
and is headquartered in Wyomissing, Berks
County, PA. VIST provides trusted advisors in banking,
insurance and wealth management to businesses and individuals
throughout Berks, Southern Schuylkill, Montgomery, Delaware and Philadelphia Counties. At VIST Financial, our
name tells you exactly what you can expect when you do business
with us. We built our values – Vision, Integrity, Solutions and
Trust – right into the name of our company. Learn more at
www.vistfc.com.
About CampusDoor
CampusDoor provides innovative student loan solutions, systems
and processing to lenders enabling them to help their customers pay
for college. CampusDoor created CB Student Higher Education Loan
Program (CB Student HELP) so that community banks can offer private
student loans to their customers and help them to achieve their
higher education dreams. More information is available online at
www.campusdoor.com and www.cbstudenthelp.com.
This release may contain forward-looking statements with respect
to the Company's beliefs, plans, objectives, goals, expectations,
anticipations, estimates, and intentions that are subject to
significant risks and uncertainties, and are subject to change
based on various factors, some of which are beyond the Company's
control. The Company does not undertake to update any
forward-looking statement, whether written or oral, that may be
made from time to time by or on behalf of the Company.
SOURCE VIST Financial Corp.