Heading To College? We Can Help Lighten The Financial Load.
Achieving a college degree can open the door to exciting opportunities. But it can also come with more than its share of costly expenses.
With college costs on the rise, MECU private student loans offer an excellent way to keep your dream alive. Fast, flexible and convenient, our student loans feature:
- competitive variable rates as low as 6.00% APR*
- quick loan turnaround
- no fees or prepayment penalties
- repayment terms up to 20 years
- no collateral requirement
Plus, you can repay your loan through easy, automatic transfers. You can also access your account 24/7 online.
We recommend that before applying for a private loan at MECU, students and parents explore the many other possibilities for financing a college education, including loan and financial aid programs offered by the federal government. For more information, click here.
To apply for a student loan, visit mecu.studentchoice.org. Or call 800.644.2067 to speak with a representative.
As always, MECU is committed to helping you achieve more. Whether you’re pursuing the value of a higher education — or simply appreciating the everyday value of saving money.
* APR = Annual Percentage Rate. This is a variable rate loan available to qualified borrowers. The APR will vary quarterly based on the One Month Libor as published in The Wall Street Journal. The borrower must be a U.S. citizen or legal resident. Loan terms up to 20 years. The minimum loan amount is $1,000 and the maximum cumulative loan amount (per membership account) is $40,000. Loan may not be used to consolidate other student loan debt. Loan proceeds may not exceed the total amount needed for expenses associated with attending school. These include, but are not limited to: tuition, books, school fees, room and board, transportation and supplies. Grants, scholarships and other student loans may reduce the amount you may be eligible for, regardless of creditworthiness and ability to repay. Borrower must submit acceptable proof of enrollment. Loan disbursement check or EFT will be sent directly to the educational institution. Repayment term begins within 45 days of the disbursement. Minimum payment amount is $50 per month, per loan. The maximum rate is 18%. Rates, terms and conditions are subject to change.
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