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SLFCU – Student Loans

The Smart Choice for College Expenses – an SLFCU Private Student Loan

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Pay for faculty with a student loan with nice charges and advantages. You can borrow as much as $30,000 per yr and get decrease charges if in case you have good grades.

An SLFCU personal student loan will pay for any certified bills together with:

  • Tuition
  • Books
  • Room and board
  • Computers
  • Past-due tuition payments

Loan proceeds shall be despatched to the varsity by test or digital funds switch (EFT). The college will decide the disbursement dates of the loan throughout the certification course of. If the loan funds exceed school-required bills, the varsity will concern a refund to the student.

Apply at present to make sure you have sufficient financing, and cancel later when you obtain different funding. A 30-day, no-fee return coverage means that you can cancel the loan if you find yourself with sufficient financing by federal funding, scholarships, or grants. As a part of the applying course of you’ll obtain entry to the LendKey web site, the place you may handle your loan. 

Before you borrow, benefit from any federal funding, scholarships, and grants for which you’ll qualify.


TO APPLY

  • You should be enrolled at the very least half-time at an eligible college.
  • Applying with a cosigner can enhance your chance of approval and may end in a decrease loan price.
  • You can borrow $2,000 to $30,000 per tutorial yr.

WHILE YOU’RE IN SCHOOL

Build credit and decrease your loan stability by making small, common funds

You can select to:

  • Pay the curiosity in full every month.
  • Pay simply $25 every month.
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Principal and curiosity funds are deferred till 6 months after commencement, leaving college, or dropping under a half-time enrollment standing.

You can get a 0.25% price low cost, topic to the ground rate of interest, by making digital funds. This profit is out there throughout deferral and reimbursement.


DURING REPAYMENT

  • The reimbursement interval is 10 years.
  • You can get a 1% rate of interest discount whenever you’ve paid 10% of the loan. Additionally, you may get a 0.25% price low cost by making digital funds.
  • You can prepay the loan partially or in full at any time with none penalties.

The phrases described right here can be found just for Student Loans originated after January 1, 2011.


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