EdAccess Private Student Loan

Are federal loans not enough to cover the cost of your college education? An EdAccess Private Student Loan from a not-for-profit credit union can be the answer to your funding needs.

Variable rates ranging from 3-Month LIBOR + 2.99% – 8.99%

Main Program Features

• Borrow as little as $2,000 or as much as $30,000 per year
• Borrow up to $120,000 in undergraduate debt
• Borrow up to $160,000 in graduate debt
• Variable interest loan based upon 3-Month LIBOR index plus margin
  Recent rates for approved loans range from 2.99%-8.99%
• Interest paid on loan may be tax deductible. Please consult your tax advisor
• Please note, you must choose between making interest-only payments or a nominal $25 Proactive Payment towards the loan while in school
• Use the funds for any qualified educational expense, including past due tuition bills
• No prepayment penalty and 30-day loan cancellation policy
• Fast pre-approval once we receive your completed application

Student Benefits

• Zero Origination Fees
  All qualified student borrowers enjoy ZERO origination fee.
• Credit + Academic based underwriting
  We use the FACS Grade, which takes into account the credit history of the borrower/cosigner as well as the academic progress of the student. Good grades and getting closer to graduation means a lower loan rate!
• 1% Interest Rate Reduction
  Once you have entered repayment and repaid just 10% of the loan
• 30 Day No-Fee Return Policy
  You can cancel the loan within 30 days of approval date and you owe no fees and no interest
• Cosigner Release
  Available after 24 consecutive on-time principal + interest payments.

Eligibility & Credit Requirements

• Borrower must be enrolled in an eligible school and pursuing a degree program
• Borrower must be a member or join a participating credit union during the online application process
• Borrower must be a U.S. Citizen or permanent resident
• Creditworthy student borrowers can apply without a cosigner

Applying with a cosigner is highly recommended to qualify for lower rates!

Checklist of Items You’ll Need During the Application Process

1) IDENTIFICATION – Government issued ID which includes: passport, drivers license, or state issued ID card.

2) PROOF OF ENROLLMENT – Copy of an unofficial transcript (proof of enrollment is not required for incoming freshman).

3) PROOF OF INCOME – Two recent pay-stubs from within the past 60 days. If the loan is cosigned, please send in proof of income for both the cosigner and the borrower.

You can scan or fax these documents directly into the system. Please note, scanned documents are only accepted in PDF, JPG or PNG formats.