Start with a low rate. Add on a 0.25% discount for making automatic payments and a 0.25% discount after making the first 48 consecutive monthly payments on time *, and what do you have? A pretty smart way to save for your undergraduate or graduate education needs. Choose from three flexible prepayment options with no penalties.
The student must always be the primary borrower on the loan.
- Co-signer release may be requested after the first 48 consecutive on-time monthly payments.
- 3 repayment options:
- Full deferment of principal and interest
- Interest-only payments while the student is in school
- Immediate repayments of principal and interest
Apply for a:
- Graduate Loan
- $60,000 maximum loan amount
- $150,000 lifetime aggregate loan limit
- Undergraduate Loan
- $45,000 maximum loan amount
- $75,000 lifetime aggregate loan limit
Our Student Loan Programs use interest rates calculated from daily, simple interest, using a 365.25-day year; and are based on a LIBOR Rate adjusted quarterly using the average of the 3-month LIBOR. The minimum interest rate charged for all loan types is 4.00%. The maximum rate is 15%, or alternatively a maximum rate as approved by the National Credit Union Administration based on FICO score.
For a simpler way to repay your student loans, think about a Consolidation Loan. By combining all of your student loans into one bill, you can lower your monthly payment by extending your repayment term up to 15 years. You also get a 0.25% discount for making automatic payments and a 0.25% discount after making the first 48 consecutive monthly payments on time. Plus there’s no prepayment penalty.
Apply for a Consolidation Loan
- Co-signer release may be requested after the first 48 consecutive on-time monthly payments
- Loans up to $180,000
- No grace period **
Before You Apply
Get a co-signer
Undergraduate and graduate students who are not employed must apply with a credit-worthy co-signer. As the student, you are the primary borrower on the loan. Your co-signer can be anyone – a parent, mentor, neighbor, or friend. Even if you are currently employed, you may want to consider getting a credit-worthy co-signer for a better rate and chance of approval.
Gather your information
Save time by being prepared for the online application process. If possible, ask your co-signer to sit with you during the application process. You both will need to have the following information handy:
- Current address and phone number
- Social Security Number
- Driver License
- Employment information
- Reference information (name, address, relation to you, and phone)
After You Apply
It is important that you complete these two additional steps:
- Send any extra documents that are requested.
- Watch for your Consumer Credit Agreement to be sent electronically. When you receive it, sign it and return it immediately.
It is important that you respond quickly to requests for information because funding cannot occur until we have all the needed documents.
If you would like to check the status of your loan or application, please log into the Customer Portal at https://figfcu.onelogos.net/.
*Rate discount of up to 0.50% is made up of a 0.25% discount for automatic payments and a 0.25% discount after the first 48 consecutive on-time monthly payments. The student must always be the primary borrower on the loan. Co-signer release may be requested after the first 48 consecutive on-time monthly payments. $1,000 minimum loan amount. Institution and proposed program subject to lender approval. This is a variable rate loan subject to additional terms and conditions, and lifetime aggregate loan limits apply.
**Grace period is 6 months after graduation or dropping below half-time enrollment before payments have to be made. No grace period for consolidation loans.
Graduate/Undergraduate Loans: Grace period is 6 months after graduation or dropping below half-time enrollment before payments have to be made. $1,000 minimum loan amount. Institution and proposed program subject to lender approval. Rates are determined by using the 3-month LIBOR index + a spread. The LIBOR rate is adjusted quarterly. Maximum loan amounts are cost of attendance less other aid received, as certified by the member’s school. Lifetime aggregate loan limits apply. School is notified immediately after credit approval so it can certify your enrollment and let us know when the disbursements are needed. Funds are sent directly to the school on your behalf.
Consolidation Loan: Interest Rate Index-Interest rates range from 1-month LIBOR plus 5% to 10%. The LIBOR rate is adjusted quarterly. Origination Fee-The origination fee ranges from as low as 0% up to 6%. Interest Capitalization--Interest accrues from disbursement and is capitalized once at repayment. The borrower or co-signer is welcome to pay the interest each month with no penalty. Loan Amount--There is a $7,500 minimum loan amount. Maximum loan amount is $180,000. Repayment Options--Immediate repayment of principal and interest. Repayment Term--There is a repayment term of up to 15 years which begins when the loan is disbursed. Grace Period--There is no grace period. Repayment will begin 30 to 60 days after disbursement.