Digital Federal Credit Union, better known as DCU and Edmit, an award-winning provider of software, online tools and advising to help families make smarter college financial decisions, announced today that they are joining forces to help DCU’s more than 800,000 members find the right college at the best price.
Credit unions, such as DCU, are committed to helping members achieve their financial goals — and paying for college is a significant investment for many students and their families. The new partnership with Edmit will provide DCU members access to valuable online tools and advice to maximize their college investment. DCU members are eligible to pay a special reduced rate of just $5 per month for Edmit Plus.
“With the cost of college steadily on the rise, Edmit provides DCU members and their families a budget-friendly roadmap that highlights the colleges that are a good fit for them both academically and financially,” said Lindsey Thomasian, DCU’s Consumer Lending Manager. “Our collaboration with Edmit started during their time at DCU’s Boston-based FinTech Innovation Center. Edmit’s continued growth and desire to innovate goes hand-in-hand with the credit union’s passion for adopting cutting-edge services to help our members achieve financial success.”
Edmit Plus offers members:
- Personalized Advice: Decision support tools and a human touch to help navigate this major emotional financial decision
- Learning Center: Extensive guides, lists, and resources related to paying for college
- Software: Personalized aid and scholarship estimates, calculators, and college recommendations
The information provided from Edmit allows a deeper dive into members personalized ‘financial fit scores.’ Edmit will also create accurate estimates of the costs, potential earnings outcomes, and affordability associated with each college.
Edmit helps families to get the best price possible, as well as understand how they are going to pay for college by providing a recommendation of what combination of financial and merit aid, savings, work study and loans will be needed to cover college costs.
“We are excited that DCU has aligned with Edmit’s mission of helping families as early as possible in the college search process to determine which schools offer them the best value, how to pay for it responsibly and set students up for success afterwards,” said Sabrina Manville, co-founder of Edmit.
The partnership was made possible through Edmit’s relationship with CU Student Choice, the leading provider of higher education financing solutions and corresponding financial education to America’s credit unions.
“We’re thrilled to bring this powerful resource to credit unions and their members,” said Scott Patterson, President and CEO of Credit Union Student Choice. “Greater transparency early in the college selection process will help families make far more responsible choices and avoid excessive debt. This is a powerful way for credit unions to support their members’ financial wellness and enhance long-term relationships.”
DCU is a not-for-profit financial cooperative serving over 800,000 members across all 50 states and by offering a full range of financial services to consumers and businesses, including banking, lending, financial wealth management, insurance, and realty products. For additional information, visit www.dcu.org.
Edmit was launched in 2017. The Company was founded by former university administrators to create true price and value transparency for college-bound students. Edmit aims to help these students and their families better evaluate their options and make well-informed decisions about their college investment. Edmit’s proprietary software calculates tuition estimates that are personalized to the student, and offers a financial fit score that takes into account a college’s affordability, value, and post-graduation earnings. For more information about Edmit, visit www.edmit.me.