19 Jun

Paying for College Without Going Broke

Paying for College Without Going Broke

One of the first thoughts after being accepted to college is usually, “Now how do I pay for this?!” The current costs of tuition are staggering, but there are several options for paying for college without going broke. It is worth the research and effort to explore all options, in particular assistance that does not need to be repaid like grants and scholarships.

Paying for Tuition

Financial Aid

The first step in beginning your quest for financial aid should be to fill out your FAFSA at https://fafsa.ed.gov/. Filling out this document will tell you what government aid you qualify for, including grants, loans, and other programs like work-study.

It is a good idea to always accept all grants first, and then figure out what additional funding you may need after that amount is deducted from your tuition. Grants do not need to be re-paid if you graduate, but beware, dropping out of school can mean you have to repay the full amount you accepted.

Scholarships

The next best form of funding for college expenses after grants are scholarships. Scholarships do not need to be re-paid (under most types) and can be awarded for a variety of reasons. There are scholarships for all sorts of interests and activities. Some are based on merit, some are based on sports performance, and some are based on where you live.

The William Threlkeld Scholarship

RMLEFCU members that are in high school or college are eligible to apply for the William Threlkeld Scholarship. Four deserving members/students will be awarded the scholarship based on academic performance (a 3.0 GPA or higher), community involvement, and the potential to succeed at the college level. 2017 applications are due by July 31, to apply, fill out this application and mail to:

Rocky Mountain Law Enforcement Federal Credit Union
attn: Threlkeld Scholarship
10025 Park Meadow Drive
Lone Tree, CO 80135

Loans

Loans for college expenses come in two forms: government and private; both of which must be paid back plus interest. Through your FAFSA you will find out if you qualify for any government loans. Subsidized government loans are better than unsubsidized or private loans because you will not accrue interest while in school.

If after receiving grants, scholarships, and subsidized loans you still need cash for school, your next step is to decide between an unsubsidized government loan or a private loan. Choose whichever has a lower interest rate (hint: this won’t always be the government loan!). Another option is to use your parent’s home as collateral for a low interest loan. This could be in the form of a home equity loan or home equity line of credit.

Personal Expenses

As far as personal expenses while you are a student, some grants or scholarships allow for personal expenses. Only use these though if you have all school expenses (like tuition and books) covered first.

The ideal way to pay for personal expenses while in school is with a part time job or work study program. You want to minimize student debt as much as possible, so going into more debt for living expenses can put you into a bad cycle of increasing your debt each year.

College costs are intimidating for every student, but there are a large number of ways to pay for these expenses without graduating completely broke. Research your options, apply for every scholarship under the sun, and only accrue debt when necessary.

12 Apr

2017 Denver Police Week Events

Denver Police Week

We are pleased to be a part of the 2017 Denver Police Week activities. This year’s Denver Police Week will be occurring from May 14th – May 20th. Per usual, the statehouse will be lit up blue in honor of our local police officers. We will be updating this post with events as additional information becomes available.

2017 Denver Police Week Events

Thursday, May 18th: The Denver Police Memorial Day Ceremony will be on Thursday, May 18th. The day will progress as follows:

9:00 – 9:45am – Police Museum Reception at the Art Dill Auditorium at 1331 Cherokee St. in Denver. Light refreshments will be provided.

10:00 – 11:00am – Denver Police Memorial Ceremony held at 1331 Cherokee St. Plaza.

Retiree appreciation lunch immediately following in the DPPA Building at 2105 Decatur St. Please RSVP by May 11th to (720) 913-6779 or denverpolicemuseum@gmail.com

Fallen Officer Memorials

Throughout the week there will be fallen officer memorials honoring five police officers that lost their lives. The events are listed below.

Officer Donald J. Seick
Time: May 17, 2017 2pm
Location: 50th Ave (Regis Blvd) and Green Court

William Claassen
Time: May 15, 2017 at 1:00pm
Date: 2805 Downing Street

Thomas O’Connor
Time: May 16, 11:00 am
Location: 13th and Welton street in Denver

Bruce VanderJagt
Time: Thursday, May 18, 9:00 am
Location: Denver Police Headquarters, Art Drill Auditorium, 1331 Cherokee Street

Officer DeHerrera
Time: Friday, May 19, time pending
Location: Denver Police District 1, 1311 West 46th Avenue, Denver

08 Apr

RMLEFCU is Still One of the Healthiest Credit Unions in the Country!

RMLEFCU is a top 10 Healthiest Credit Union by DepositAccounts.

This is huge. Out of over 6,000 credit unions nationwide, RMLEFCU is ranked in the top 10 for the healthiest credit unions in the country. In 2016 and 2017 the Rocky Mountain Law Enforcement Federal Credit Union received an A+ health rating from DepositAccounts. DepositAccounts is an independent website that tracks more than 275,000 deposit rates and provides health ratings for all federally insured banks and credit unions in the US.

The credit union’s financial health is extremely important to us and we are proud to consistently be recognized for it on a national scale. We take our job of protecting members’ money very seriously and wish to return as much of it as possible back to our members through high dividends on savings, low rates on loans, and superior member service.

Learn more about your financial institution in the video below. Thank you for being a valued member of the Rocky Mountain Law Enforcement Federal Credit Union and congratulations on being part of a top 10 healthiest credit union.

15 Jun

Get Creative when Searching for College Scholarships

If you will be attending college or university in the Fall of 2016, this article is for you. Beyond applying for financial aid and dipping into your savings account to pay for college, carve out time for searching for college scholarships. Find scholarships nationwide, statewide or even locally using creative means. Scholarships and grants are used synonymously, but the semantics are unimportant – it’s free money that you do not have to pay back – EVER.

  1. High School

Ask your school’s guidance counselor for college scholarship materials. It’s hard to believe that in 2016 certain things exist offline only. But consider these kind of scholarships to have two benefits. First the applicant pool will be small since someone would have to go directly to their guidance counselor and secondly, hardcopy requirements will at least discourage some applicants who feel it is not worth the time if they can apply for another scholarship online.

2.  Employers and community groups

Begin with larger employers, community organizations, and civic organizations. Examples include the Lions Club (find your local chapter or ask a guidance counselor), Rotary, Kiwanis, or Knights of Columbus.

  1. State Scholarships

The above link is for Colorado based scholarships. In addition, your statewide Rocky Mountain Federal Law Enforcement Credit Union offers four William Threlkheld scholarships each year to deserving members. The scholarship is named after the retired Division Chief of the Denver Police Department who passed away on 11/8/11. Requirements include having a 3.0 GPA or higher, being involved in your community and having the potential to succeed at the college level. Apply here.

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24 May

RMLEFCU National Police Week Recap

National Police Week

In celebration of National Police Week, we hosted three open house events at our newly renovated branches. Each event was well attended by RMLEFCU members, their families, friends, and others involved in law enforcement. Entertainment at all the open houses included live music, a photo booth, catering, beverages, and giveaways.

Throughout National Police Week we participated in law enforcement related events around the Denver area. In addition to the events we hosted, our staff gave away swag at our branches during the week in appreciation of our membership and their commitment to law enforcement.

We are very proud to show off the renovations to our valued members. By redesigning our branches and investing in new technology, we have enhanced the member experience. These major physical changes reinforce the fact that our credit union is rock solid thanks to our loyal membership and dedicated leadership team.

View Images from the Photo Booth!

11 May

RMLEFCU Marks National Police Week with Multiple Events

National Police Week events commemorate the lives of officers lost in the line of duty and show appreciation for the diligent work of our law enforcement officers each and every day.

Rocky Mountain Law Enforcement Federal Credit Union was established in 1938 and seventy-eight years later, remains committed to the service of those who serve ALL of us.

We’ve not only expanded our services but revamped our branch offices. We would like to extend an invite to our National Police Week open houses to our members and their friends and family.

Each of our National Police Week open houses feature live music with local bands, a free food truck and an open bar.

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