Navigating Student Lending: A 2023 Review and 2024 Outlook

About the Podcast

Discover how the evolving financial and educational landscape is impacting student loans, repayment trends, and the challenges and opportunities that credit unions face. This episode is a must-listen for credit union professionals interested in how student lending will impact their organization.

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Key Takeaways:

  • [0:57] What were the biggest challenges and opportunities with regard to student lending and CUs in 2023?
  • [2:55] We discuss the duality of education lending: in-school financing for younger individuals and post-graduation refinancing for lasting credit union engagement.
  • [5:47] The credit union journey emphasizing its natural progression from student loans to auto and mortgage opportunities.
  • [6:25] During the student loan repayment pause, credit unions benefited as borrowers saved money, but the impact upon resumption is expected to be manageable.
  • [9:36] What were the most significant policy changes that impacted student lending and credit unions in 2023?
  • [13:52] Predictions for student lending and CUs in 2024.
  • [14:50] Long-term value in engaging young borrowers, highlighting lifetime financial opportunities.

Presented By

Ryan Giffin
Ryan Giffin

Senior Vice President of Client Success   | Lendkey

Ryan Giffin, with over two decades in the financial services sector, serves as the Senior Vice President of Client Success at LendKey. In this pivotal role, he oversees the Client Success team, responsible for cultivating and maintaining strong relationships with lending partners to drive program success and profitability. With prior experience as a credit union lending executive, Ryan possesses a profound understanding of the industry's nuances. He holds a finance degree from Indiana University, Bloomington, and an MBA from Ohio State University, underscoring his commitment to financial excellence. Ryan's wealth of experience and academic achievements empower him to guide LendKey's lending partners towards success in the dynamic financial landscape.