Sunnyside Federal Offers iHelp Private Student Loans for College

Student and Families Can Now Navigate School Financing with a Local Community Bank

(August 7, 2014) -- Sunnyside Federal Savings and Loan Association ("Sunnyside Federal") announced today that it now offers Private Student Loans by participating in the iHELP Private Student Loan program. iHELP administers a simple and transparent lending program with competitive rates through local community lenders, providing all loan origination and servicing support. Working together, Sunnyside Federal and iHELP Private Student Loans will help students fill the gap between the cost of a college degree and federal loans and scholarships.

Working through a trusted community lender as part of the iHELP program gives students and families a compelling option during what can otherwise be a confusing and stressful process.

Sunnyside Federal is the first lender in Westchester County to offer iHELP loans. iHELP is sponsored by The Independent Community Bankers of America (ICBA), Sunnyside Federal is a member of the ICBA. Students and their families can find out more about iHELP loans by logging onto Sunnyside Federal's home page (www.sunnysidefederal.com).

Tim Sullivan, President & CEO, said, "We want to support our customers' college education goals. Participating in the iHELP Private Student Loan Program is a great way to make sure our community has access to white glove customer service throughout the application and loan servicing process. We are confident that through this program, we can provider a better lending experience for our customers than an unknown financial institution."

Jim Iannuzzi, one of iHELP's Program Managers, stated, "We believe where students borrow from matters. At iHELP, we share Sunnyside Federal's commitment to providing outstanding customer service, and we work with students to make sure they understand their financing options and loan. We provide free resources on U.S. college costs, average salary by career and location, as well as access to scholarship links so that students can make an informed decision and reduce their net cost of college."

Obtaining a college degree is the most important decision a young adult makes in determining their financial success. College graduates earn about $1.5 million more over a lifetime than those with a graduate degree. Since the recession in 2008, about 2 million jobs have been created for college graduates, while those with a high school diploma have experienced a decline in jobs of about 200,000 (Source: Georgetown University and the Lumina Foundation).

However, paying for college can be difficult. In New York, the average cost of tuition for a 4-year private college is over $30,000. (Source: Chronicle of Higher Education). With federal student loans averaging $5500 per year, many families turn to Private Student Loans, rather than take out equity lines of credit or borrow from retirement accounts.


About Sunnyside Federal

Sunnyside Federal Savings and Loan Association is the community bank for the Rivertowns: Irvington, Hastings, Dobbs Ferry, Ardsley-on-Hudson, Tarrytown, and Sleepy Hollow, New York.

The bank provides friendly, professional customer service and an array of products and services to help our customers meet their personal and business banking needs. This includes managing their finances, purchasing homes, and saving for their families' futures.

Committed to long-term financial, personal, and civic relationships, we support our community, as we have since 1930.


About iHELP Private Student Loans

The iHELP Private Student Loan Program is provided through more than 5,000 community minded member banks of the Independent Community Bankers Association (ICBA). iHELP and its lending partners are committed to helping students and their families make informed decisions about their plans for higher education, providing current resources on school costs, estimated salaries for various careers , and providing free access to more than 17,000 available scholarships . The Student Loan Finance Corporation administers iHELP for its banks and has more than 30 years of experience in the student loan business. iHELP was named the #2 resource for Private Student Loans by YesCollege.com. For more information, please visit www.ihelploan.com.

For more information about the iHELP private student loan program, contact Jim Iannuzzi at jiannuzzi@ihelploan.com.

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