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As you plan for college, we’re here to help.SLFCU Student Loans and Government Guaranteed Student Loans
SLFCU Student Loan
Concentrate on getting your education, instead of how to pay for it. With deferred payments while you attend college, you’ll have money to pay for tuition, books, housing, food, and travel.
Smart borrowing for students and families of all incomes. Unlike a need-based Government Subsidized Stafford Student Loan, SLFCU student loans are for students and families of all incomes. However, if your income while attending school is insufficient to qualify you for a student loan, a cosigner will be required.
It’s easy to apply. You must be: (1) a member of SLFCU; (2) accepted for enrollment, or be enrolled in good standing (meeting the requirements for the degree being sought) at a college or vocational school; and (3) carrying at least one-half of the normal full-time work load as defined by the institution.
Borrow up to $40,000 for graduate and undergraduate programs. The maximum annual withdrawal for all programs is $20,000. Prior to any loan advance, students are required to pay accrued interest and provide enrollment certification.
It’s easy on your budget. You pay only interest due at the end of each one-year term while enrolled on at least a half-time basis, then repayment begins three months after you (a) graduate, (b) leave school, or (c) enroll less than half-time. Payments are amortized over 84 months.
Apply for your SLFCU Student Loan online.
Government Guaranteed Loan
The recently enacted Health Care and Education Affordability Reconciliation Act of 2010 (H.R. 4872), eliminates the Federal Family Educational Loan (FFEL) Program on July 1, 2010.
Effective April 21, 2010, we are no longer accepting new applications for student loans through the Federal Family Educational Loan Program. Contact your school’s financial aid office for more information on securing federal student loans.
For questions or service related to an existing Federal Family Educational Loan secured through Sandia Laboratory FCU, contact our chosen servicer, Great Lakes at 1-800-236-4300, or at www.mygreatlakes.org.
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