The MTA Advantage is a publication of MTA Benefits, a subsidiary of the Massachusetts Teachers Association
A recent survey by Cambridge Credit Counseling,
MTA Benefits’ student loan counseling partner,
shows that half of the members surveyed have
student loan debt — and that half of those
members have both federal and private loans.
Average student loan debt is $88,850. Staggering?
Yes. Surprising? No. This fast-growing crisis is in
the news every day.
Members who take advantage of Cambridge
Credit Counseling’s services will learn about
their options for loan repayment, refinancing and
If refinancing is the best option, where do
they turn? MTA Benefits can now answer that
question. MTAB undertook a lengthy search for
a partner that could provide a student loan
refinancing program that also includes favorable
benefits for MTA members. In August, MTAB
announced that Citizens Bank was selected as
Citizens Financial Group, Inc., is the 12th-largest
retail bank in the United States. This regional
financial institution, headquartered in Providence,
Rhode Island, has roots dating back to 1828.
Citizens has 3,200 ATMs and 1,200 branches
in 11 states.
Continued on page 4
“So many of our members are looking for relief from debt and
options for repayment. Our
student loan counseling program,
in conjunction with the Citizens
refinancing option, will not only
help members, it will also help
parents, grandparents and other
family members who may jointly
shoulder the burden.”
— Maryann C. Robinson,
president of MTA Benefits
MTA members will receive a special offer of up to a $1,000* credit and up to half a percentage point
off the interest rate when they consolidate one or more student loans into a single low-interest-rate loan
offering these benefits:
No application, origination or disbursement fees
Loan amounts available up to $350,000, depending upon your education level
Payments of principal and interest beginning immediately, with a choice of repayment
terms that best suit your needs
Fixed and variable interest rates available
Eligibility for family members (siblings, children, spouse) to apply
Option for members’ parents to apply for the Student Loan for Parents,
an alternative to the Federal Direct PLUS Loan**
Learn your options with Cambridge Credit Counseling
MTA Benefits launches student loan refinancing program
with Citizens Bank
Before you take steps to refinance your student loans, MTA Benefits encourages you to take advantage of our
student loan counseling program. Cambridge Credit Counseling is a 501(c)( 3) nonprofit credit counseling
agency established to ensure that borrowers are aware of their federal loan repayment options. Counselors
will work with you to identify all of your options regarding student loan debt management, including
repayment and eligibility for loan forgiveness programs. There is no one solution that fits everyone.
Members should understand how their decisions will affect the rest of their financial obligations.