Private Student Loans

Rates

Sign-Up for Rate Alert
Private Student Loans404/01/2013
FACS Grade	Base Rate1	Loan Margin2	Upfront Fee3
Platinum Honors	0.30%	3.90%	2.50%
Platinum Plus	0.30%	5.09%	2.50%
Gold Honors	0.30%	6.90%	2.50%
Gold Plus	0.30%	7.90%	2.50%
Silver Honors	0.30%	8.90%	2.50%
Silver Plus	0.30%	9.90%	2.50%
1* The Base Rate adjusts quarterly on the first day of January, April, July and October. We use the average of the 3-Month LIBOR, as reported by the Wall Street Journal on the 1st of each month, for the last three months preceding the adjustment date. 2Base Rate + Loan Margin = Quarterly Adjusted Variable Loan Rate 3Upfront fee is rolled into loan balance, no funds needed at closing. 4Rates are accurate as of specified date and are subject to change without notice.

Details

Our private student loan, is a low cost student loan to meet your education needs. Full principal and interest loan payments are deferred until 6 months after you graduate and you have up to 10 years to repay the loan.

Borrow as little as $2500 or as much as $30000 per school year. It takes less than 15 minutes to apply.

• Competitive interest rates and with good grades, get even lower rates!
Applying with a cosigner is highly recommended to qualify for lower rates. Cosigner also must be a member of MEFCU.
• 1% interest rate reduction once you have repaid just 10% of the loan.
• 30 Day No-Fee Return Policy. Find a cheaper way, you can cancel the loan.
• Use for ALL Education Expenses: Tuition, room & board, books, computer, even past due tuition bills.

---

Other low cost options that can be used for Tuition Expenses:

MEFCU Home Equity Loan

FAFSA Information

Before applying for a Private Student Loan, we advise you to fully utilize your Direct Subsidized and Unsubsidized Loans through the federal government.  These often have low costs and favorable repayment terms.  It is best to visit the Free Application for Federal Student Aid (FAFSA) website to apply for and learn about these loans.