UCU is excited to announce that your bill pay services have been upgraded! To serve you better, your upgrade features an easy-to-use, more secure product with additional time saving details, plus all the features you've come to expect in Bill Pay. In addition to the upgrade, Bill Pay is now accessed through our Home Banking platform with one simple log on.
If you are not currently enrolled in UCU's Home Banking services you can complete the Electronic Services Application & Disclosure and return it to any UCU branch, fax it to 207-581-1452 or contact a UCU representative at 800-696-8628.
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Education Loans
Alternative Education Loan
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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
- Flexible Repayment Options*
- Option A: Deferred Payment: Does not require any payments while in school
- Option B: Interest Only: Required interest only payments while in school
- Option C: Immediate Repayment: Requires immediate repayment of principal and interest while in school
- Maximum repayment period of 144 months and is based upon aggregate loan balances as of the end of the interim period
- Loans are serviced in Maine
- Manage your account 24/7 at http://www.fiscsolutions.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 depending on repayment terms and underlying loan credit risk
- Interest Rate adjusts annually on July 1st of each year based upon the index value on the prior June 1st
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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
* Other terms and conditions may apply, please review the Master Promissory Note for more specific information regarding UCU's Alternative Student Loan Program.
Continuing Education Loan
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For professionals that need to keep up with certifications or accreditations, UCU offers the Continuing Education Loan. With competitive rates and simple terms, this is a great option for financing the courses you may be required to take.
Click here for current rates.
