Student Loans
Get the money you need to help make higher education happen.
Do you aspire to greater heights of knowledge? Do you want to learn new skills and improve your career prospects? Is a lack of funds the only thing that is standing between you and your dreams? You can get the money you need to pursue the course you desire with Members Credit Union.
We offer student loans for those attending degree-granting institutions. Whether you’re a graduate student looking to dig deeper into your chosen field or an undergraduate student dipping your toes in the world of academia, you will enjoy the flexibility and competitive interest rates we offer for our education loans. We also provide parent loans for parents that are paying student fees.
Options to meet varying needs
We offer a wide variety of loans to meet varying needs. Our loans feature competitive interest rates. Choose between options for variable or fixed interest rates. We offer multiple repayment options with no prepayment penalty or origination fee.
We offer undergraduate student loans that cover every subject area offered at a degree-granting school. If you’re searching for a graduate school loan, view our dental school loan, law school loan, MBA loan, and medical school loan for loans that are tailored to meet specific graduate program requirements. Or you can check out our graduate school loan for both master’s and doctoral degree programs.
Wondering which loan will suit your needs? Get in touch with us to discuss your needs. We’re committed to helping students borrow responsibly. We’ll help you better understand the terms of each loan that you qualify for.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.
© 2019 Sallie Mae Bank. All rights reserved. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.
Frequently Asked Questions
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A: Filing for bankruptcy typically doesn’t discharge student loans unless undue hardship is proven through a separate legal process. Members Credit Union recommends consulting a financial advisor or attorney to understand your options and make informed decisions regarding your student loans and financial future.
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A: Yes, you may deduct up to $2,500 of student loan interest paid in a year from your taxable income if you meet income eligibility requirements. Members Credit Union recommends consulting a tax professional to understand how this deduction applies to your situation.
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A: To apply for a student loan, research loan options and complete the Free Application for Federal Student Aid (FAFSA) for federal loans. For private loans, visit Members Credit Union to explore our student loan solutions and apply directly through our streamlined process.
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A: The interest rate on student loans at Members Credit Union varies based on the loan type and borrower’s credit profile. To get the most accurate and up-to-date rate information, visit our website or contact us directly for personalized assistance tailored to your needs.
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A: Repayment of student loans from Members Credit Union usually begins six months after graduation, leaving school, or dropping below half-time enrollment. This grace period helps you prepare financially. For exact details, contact us or visit our website for tailored assistance.
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A: Yes, federal student loans have borrowing limits based on factors like loan type, academic year, and dependency status. These limits ensure responsible borrowing. For detailed guidance on federal loan limits and how Members Credit Union can assist, contact us or visit our website.
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A: To get out of student loan default, you can explore options like loan rehabilitation, repayment plans, or consolidation. Members Credit Union offers guidance on these steps. Contact us or visit our website for personalized support to help you get back on track.
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A: No, you don’t need perfect credit to qualify for student loans with Members Credit Union. We offer options that consider both creditworthiness and financial need. For personalized assistance and to explore loan options, contact us or visit our website.
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A: The student loan interest deduction allows you to deduct up to $2,500 of interest paid on federal student loans on your taxes. To qualify, your income must fall within specific limits. Members Credit Union can provide more details and help you understand how this deduction applies to your situation.