Our Loan Rates
While most private student lenders require you to apply before you can see a rate, your credit union wants to be as transparent as possible so that you have a better idea before applying if this loan makes sense for your needs.

Index + Margin = Your Rate

Undergraduate: The rates for our Undergraduate private education line of credit are determined by using the Prime index plus a margin.

As of January 1, 2012 , the Prime rate used will be 3.25% through March 31, 2012 . *

The margin for the undergraduate line-of-credit currently ranges between 3.00% and 5.00% depending on the borrower/co-borrower's credit score at the time of application and the presence of a co-borrower. Add this margin to the index rate to determine interest rates. It is important to understand that the index rate* may adjust on a quarterly basis.

NOTE: The 'floor' rate for the loan will be as low as 4.00%, meaning that your interest rate will never fall below the stated floor rate as disclosed upon approval.

We're very proud of the value we are creating for our members with this loan, as compared to the typical private or 'alternative' student loans found in today's market. As always, we encourage you to shop around and compare private loan product terms and rates. Remember, the Student Choice program has no origination fees, and there is no obligation to take the loan once you apply and have been approved.

* Your interest rate is variable and will change based on changes in an index. The interest rate will be adjusted quarterly (January, April, July, October), based on a historical index chosen by your credit union. This quarterly adjustment will occur upon no less than forty-five (45) days written notice to you. Once your loan is disbursed, we will use the current Index + Margin for the purpose of assessing and tracking accruing interest. While the margin will never change on your loan, the index is a variable rate that can fluctuate through the life of the loan. Please note that your interest rate, and any subsequent rate change, applies to the entire balance on your loan.

All rates listed above are as of January 1, 2012 . The Credit Union reserves the right to change rates for new applications at any time and without notice.