Private Education Loan

APPLY NOW*

*Applicant Self Certification Form below must be completed and forwarded to UCU to complete your Private Education Loan Application

Private Education Loan Applicant Self Certification FormPrivate Education Loan Application Disclosure Notice

Features

• Fills the gap between the cost of school attendance and traditional funding sources (Scholarships, Grants, Stafford and PLUS Loans)
• 0% Origination Fee
• 0% Default Fee
• No Prepayment Penalty
• Deferred Repayment
• Maximum repayment period of 144 months and is based upon aggregate loan balances as of the end of the interim period
• Manage your account 24/7 at http://www.edfinancial.com

Eligibility

• Available for full and half-time graduate and undergraduate students
• Student must be a Maine resident, or attend college in Maine
• Student must be a U.S. citizen or national, a U.S. permanent resident, or eligible non-citizen
• Student must be enrolled in a degree program and in attendance at least half-time as determined by the school
• Student must maintain satisfactory academic progress, which is determined by the school
• Students must be eligible for Title IV Programs
• Student/Guarantor must be a University Credit Union member in good standing
• Funds must be paid directly to the school
• The student and guarantor must meet credit requirements

Interest

• Variable interest rate based upon an index of the Wall Street Journal (WSJ) Prime Rate plus a specified margin.
• Interest Rate adjusts annually on July 1^st of each year based upon the index value on the prior June 1^st

Loan Limits

• The minimum loan amount is $1,000 per academic year
• You may borrow up to the lesser of $15,000 or the amount of qualified educational expenses less any financial aid you are receiving
• The maximum aggregate of alternative student loans per student cannot exceed $50,000
• Your school will be required to certify this amount and the final approved loan amount could be less than the amount requested

Edfinancial Contact Information

* Other terms and conditions may apply, please review the Master Promissory Note for more specific information regarding UCU's Private Education Loan Program.