Frequently Asked Questions about Undergraduate Loans

Who is eligible?

Undergraduate (U.S. citizens or permanent aliens) students enrolled at least half-time in a four-year degree-granting program at an approved public or private non-profit school.

Do I need to be a member to apply?

You may apply without being a credit union member, but need to be a member for the loan to be funded.

Do I need a coborrower?

A coborrower is not required, but could be necessary to meet approval criteria and may result in a lower rate.

Frequently Asked Questions about Refinancing

Do I need a cosigner?

A cosigner is not required, but may be necessary to meet approval criteria and may result in a lower rate.

How much could I save?

Our online student loan refinance calculator can help you estimate your potential savings.

What is the difference between consolidating and refinancing your student loans?

Consolidating your student loans allows you to combine multiple loans into one payment. Your new interest rate is the weighted average of your prior loans. If you choose to reduce your payment, you’ll likely pay more interest over time. This type of loan is usually associated with federal government student loans.

When you refinance, you are taking out a single new loan from the credit union to pay off your old ones. You’ll likely have a new interest rate, new terms, and a different monthly payment amount. This provides the convenience of one monthly payment and could help you lower your rates and save money.