Federated Employees Credit Union offers an alternative to government guaranteed student loans. If your government financial aid isn't enough to cover the cost of your post-secondary education, or if you don't qualify for the government guaranteed student loans with the traditional financial aid, this loan will help you with your education expenses.
- Students enrolled in post secondary education are eligible
- Borrow up to $5,000 per student per school year (July 1 to June 30), $20,000 maximum
- The interest rate will be .5% below the index (prime rate) as of July 1 each year, with a minimum interest rate of 4%.
- Interest only payments if you are enrolled as a full-time student
- Parent or Legal Guardian co-signer required
- There are no pre-payment penalties
- Automatic payment options are available
- How much do I need to save for college?
- How much will I need to save for a major purchase?
- How much can I afford to borrow?
- What is my loan rate?
- How long will it take to pay off my loan?
- How much will my loan payments be?
- Should I consolidate my loans?
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