Student Loans – College
Ohio Catholic FCU’s Private Student Loan Program
- Line of credit available for 4-year public or private non-profit approved schools
- Borrow up to $75,000* (may require a qualified co-signer)
- Release co-signer/co-borrower from repayment obligation program available
- 20-year repayment on balances less than $40,000; 25-year on balances greater than $40,000
- No origination fees
- No pre-payment penalties
- Partial or full deferment payment options available while in school
- Highly competitive variable rates based on credit worthiness
- Discount is available for automatic payment from credit union account
- Interest paid is typically tax deductible**
- Easy application process online or via toll-free number
A few local college and universities that are on the Student Choice Approved Colleges and Universities list
|Ashland University||Kent State University|
|Baldwin/Wallace College||Lake Erie College
|Case Western Reserve University||Notre Dame College of Ohio|
|Cleveland Institute of Art (The)||Oberlin College|
|Cleveland State University||University of Akron (The)|
|Hiram College||Ursuline College|
|John Carroll University||Walsh University|
- Before applying, fill out a FAFSA (Free Application for Federal Student Aid) found at fafsa.ed.gov, apply for your Personal Identification Number (PIN) at pin.ed.gov. Your PIN serves as your electronic signature and provides access to your personal records.
- Apply for multiple scholarships.
- Check with your college financial aid office for listings.
- Free information on preparing for and funding education beyond high school including a scholarship search wizard can be found at studentaid.ed.gov.
- Take the maximum amount of Federal Stafford Loans before applying for the Student Choice Program because
- Government pays the interest
- Government capped interest rate maximum
- Deferred payment option until after leaving the school
*Excludes any previously awarded financial aid as certified by the school. To qualify, the student must meet all of the following credit criteria: minimum 660 FICO score; two years of continuous employment history; a minimum gross monthly income of $1,500; no foreclosure, lien, bankruptcy, student loan default, and 24 months of credit history. If the student does not meet these requirements, a co-borrower will be necessary.
** Consult your tax adviser.