Education Line of Credit: The Smart Way to Pay for College with a Credit Union

Most families have never heard of an education line of credit, but it may be one of the smartest borrowing options available right now, especially with major federal loan changes hitting in July 2026. Road2College founder Debbie Schwartz sits down with Tricia Poplicean, College Counselor at Student Choice, to explain how the education line of credit works, how it compares to traditional private loans, and what every family needs to know about the One Big Beautiful Bill Act before the 2026-27 school year begins. What’s covered: New Parent PLUS caps: $20,000/year, $65,000 lifetime (effective July 1, 2026)Elimination of the GradPLUS loan for new borrowersHow the education line of credit works and who it’s forCosigners, repayment flexibility, and how funds are disbursedLive Q&A with familiesResources: https://bit.ly/scugloans Chapters: 00:00 Welcome and introductions 03:41 About Student Choice 06:58 What is a credit union? 11:16 How college costs are changing 12:31 New Parent PLUS loan caps (OBBBA) 14:02 GradPLUS loan eliminated for new borrowers 24:33 What is an education line of credit? 30:21 How funds are disbursed 39:52 Borrowing by semester, summer, and study abroad 42:17 Fees, cosigners, and rates 44:14 Repayment options explained 51:41 Refinancing options 1:00:53 What expenses qualify 1:04:12 Q&A: Rate shopping, twins, timing, and more 1:08:56 Wrap-up and how to reach Student Choice