Private Student Loans2025-03-04T03:29:43-05:00

Student Loans

Fill the funding gap when scholarships, grants, and federal loans aren’t enough.

Variable rates starting at

4.03% APR*

Fixed rates starting at

5.03% APR

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A unique line of credit is not like other student loans.

With multi-year approval, there’s no need to reapply every year!

Why borrow from a credit union?

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Credit Union Partners
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Families Helped
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Loans Paid Off
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Years of Experience

These are just a few of our partners – find your rate to see even more!

Credit unions offer great rates to help you keep your payments and interest low. Estimate your rate without a credit pull.

Variable rates starting at

4.03% APR

20-25 year repayment term◊◊

Fixed rates starting at

5.03% APR

10 year repayment term

How It Works

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Frequently Asked Questions

What items will I need to apply?2024-10-31T15:31:50-04:00

Information you’ll need to successfully complete the application:

  • Personal information (such as name, date of birth, Social Security number)
  • Sufficient income information for either the borrower or co-applicant (if applicable)
  • School enrollment information, if known
  • Amount needed for your current school term
  • If applying with a co-applicant, you’ll want to have them present. The co-applicant will also need to provide the same type of personal information as the student borrower. If they cannot be present, you should have their primary email address on hand – we’ll send them a notification to input their information.
How long will the process take?2024-10-31T15:31:23-04:00

Processing times vary based on time of year, document submission, and the school’s own certification process. In general, you can expect the process to take anywhere from 5-45 days, depending on the documentation available.

Can I use funds to pay for books or off-campus housing?2024-10-31T15:30:04-04:00

Our private student loans can be used for any items listed in your school’s cost of attendance, or other education-related expenses. The amount you are eligible to borrow will be certified by your school, and the funds are sent directly to your college.

If some of the loan will be used to cover items not directly paid through the school, such as books, off campus rent, or a laptop, the school will issue you a refund for the excess amount.

What are my repayment options?2024-10-31T15:09:16-04:00

You may choose to make interest-only payments while in school; defer both principal and interest payments until six months after graduation; or make full payments while in school. If you defer both principal and interest payments during school, interest begins accruing at disbursement and will be capitalized when you enter repayment.

What is a federal Stafford student loan?2022-08-17T18:14:40-04:00

The Department of Education clarifies that the term “Stafford Loan” refers to a subsidized or unsubsidized Federal Stafford Loan made to students on or prior to July 1, 2010. However, many people and schools also informally use “Stafford Loans” or “Direct Stafford Loans” to refer to both direct subsidized and unsubsidized student loans made via the William D. Ford Federal Direct Loan (Direct Loan) Program. When a school says they offer “Stafford Loans”, this means they offer Direct Subsidized Loans and Direct Unsubsidized Loans. Read the full article on the Federal Student Aid website.

Do I have to know my enrollment status to apply?2022-02-09T14:21:27-05:00

Yes. You must be continually enrolled in a degree-granting program and meet your school’s minimum Satisfactory Academic Progress (SAP) criteria to be eligible. For fall and spring terms, you must be enrolled at least half-time. For summer term, you may be enrolled less than half-time. Should you drop below half-time in the fall or spring, withdraw during any term, or fail to meet SAP requirements, your funding request can be denied, your line of credit may close, and you may enter repayment.

What is graduated repayment?2024-06-13T16:12:28-04:00

Graduated Repayment is repayment of principal and interest using an extended amortization period intended to lower the monthly payment amount, after which payments are higher and based on the remainder of original term.

Who will service my loan?2022-02-09T14:05:52-05:00

University Accounting Service (UAS) will service your loan. Once your loan has been disbursed or entered repayment, you may contact UAS with questions, or access your account online.

How much can I borrow?2022-01-28T21:46:40-05:00

The maximum amount you can borrow varies by credit union lender. In general, the amount is based on your school’s certified costs minus the amount of other financial aid you have already received (such as federal student aid, scholarships, and grants). You can view loan limits  on our lenders’ websites or within your results from our matching tool.

Can my cosigner be released at a later date?2022-02-25T14:59:13-05:00

Many of our credit union lenders offer a cosigner release option based on on-time payment history and other requirements. We recommend reviewing specific criteria on the credit union lender’s website.

Can I receive a discount for setting up ACH payments?2022-02-09T14:14:22-05:00

Many of our credit union lenders offer a 0.25% interest rate reduction when the borrower signs up for automatic debit payments and is in active repayment. We recommend reviewing the credit union lender’s website for details about a potential discount for automatic payments.

Who is CU Student Choice?2022-01-28T19:03:10-05:00

CU Student Choice was founded in 2008 by a group of credit unions who wanted to provide innovative private student lending solutions for borrowers. Today we partner with 300 credit union lenders to provide options for your education borrowing needs, and can help match you with one!

Can anyone become a member of a credit union?2022-01-28T21:30:25-05:00

In the past, credit union membership was somewhat limited based on where members lived, worked, worshipped, or attended school. The good news is just about anyone can join a credit union now and take advantage of the benefits of being a member!

What is the difference between a fixed and variable rate?2024-10-04T12:20:40-04:00

Fixed Interest Rate

A fixed rate loan is exactly as it sounds – the interest rate is fixed, or stays the same, for the entire life of your loan.

Pros: You’ll know what your interest rate is and won’t have to worry about fluctuations down the road.

Cons: The tradeoff for knowing what your rate will be for the long haul is that it is often a higher rate to start than a variable rate option.

Variable Interest Rate

When you select a variable rate loan, your interest rate will fluctuate over time based on the current index rate. Your lender adds a percentage to that base according to your credit score and history, and there is usually a limit or “ceiling rate” on how high your rate can go if the index increases.

Pros: Variable rate options are typically lower than fixed rate at the start of your loan. Additionally, if the index decreases in the future, so will your interest rate.

Cons: There is risk involved; while your rate could go down, it could also increase, meaning you will pay more in interest over time.

Do I have to apply every year?2022-04-26T14:43:43-04:00

With our undergraduate and graduate line of credit products, you will only have to complete the application process once. However, your loan is subject to annual review and credit qualification, and you must continue to meet your school’s Satisfactory Academic Progress (SAP) and enrollment requirements.

Will I need a co-applicant?2024-10-31T15:23:55-04:00

A borrower is not required to apply with a co-applicant. However, applying with a credit worthy co-applicant may improve a borrower’s chance of meeting the credit union’s approval criteria and potentially qualify for a lower interest rate.

Why choose a credit union?2022-01-28T21:29:49-05:00

Credit unions operate to serve their members and communities. One way they do that is by promoting thrift and offering competitive rates with a focus on the best interest of the borrower – in this case students. When you choose your credit union to pay for college, you’ll benefit from great rates, low fees, convenient repayment terms, and most importantly, a life-long relationship with a lender you can trust.

What is a credit union?2022-01-28T18:30:38-05:00

Credit unions are not-for-profit organizations that exist to serve their members rather than maximize corporate profits. Like banks, credit unions provide a variety of financial services, but as member-owned cooperatives, they focus on providing a safe place to save and borrow at reasonable rates while returning income to their members in the form of dividends.

Do I have to be a credit union member?2022-01-28T21:46:17-05:00

You do not need to be a member to start the application, but you will need to be a member of the credit union before you can receive funding.

Need to find a credit union? We can match you with some options.

Get Personalized Support

Still have questions? Consult our experts via email, text, call, or scheduled appointment.

Guide to Financial Aid

From completing the FAFSA to repaying your student loans, cost of attendance to expected family contribution, this guide explains the financial aid process.

  • The different types of student loans
  • The difference between fixed and variable rates
  • How to pick a lender for your student loans
  • How to plan for repayment before you borrow

* APR = Annual Percentage Rate. Rates shown include a 0.25% discount for optional enrollment in automatic electronic payments. Variable rates subject to increase after consummation. Rates vary by credit union and depend on credit union membership eligibility. Please use our search tool to find the lowest rate for which you may be eligible.

Subject to annual review and credit qualification. Must meet school’s Satisfactory Academic Progress (SAP) requirements.

** The APR will not fall below the floor rate regardless of the index or any additional rate discount.

Using the free student loan payment calculator does not constitute an offer to receive a loan and will not solicit a loan offer. Any payments and savings will depend on the actual amounts for which you are approved, should you choose to apply. This calculator is provided for educational purposes only and should not be relied upon as financial advice. Always consult your credit union or financial advisor when making your decision.

◊◊ Variable Rate Option: the repayment term is 20 years if your principal balance at repayment is $40,000 or less, and 25 years if your principal balance at repayment is more than $40,000.

Fixed Rate Option: the repayment schedule is fixed at 10 years regardless of the amount you borrow. Full repayment begins at the end of the grace period, unless full repayment is selected during enrollment.

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