FOR SCHOOLS

cuScholar Private Student Loan Program Overview

 

cuScholar Program Overview

 

Over 140 not-for-profit credit unions nationwide subscribe to the cuScholar Private Student Loan and participate in the cuStudentLoans program. The cuScholar Private Student Loan consists of common underwriting and servicing criteria with life-of-loan servicing provided by LendKey.

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The Academic Credit Score (ACS) is a six-tiered model which factors in credit bureau data from both the borrower and the cosigner, a historical analysis of identifiable academic characteristics, and the academic attributes of the borrower. LendKey recognizes the strong correlation between loan default rates and attributes such as academic achievement. For example, a junior with a high GPA may have more favorable rates than an incoming freshman with no established GPA.

Underwriting That Rewards Academic Achievement

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Get an instant credit decision! Our easy online application features:

  • 24/7 online account status and management
  • Electronic school certifications and disbursements
  • Self certification with required school certification before loan disbursement

Web-Based Application

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  • 1% interest rate reduction once 10% of the principal is repaid during the full repayment period
  • Apply for cosigner release after 24 consecutive, on-time principal and interest payments
  • The option to borrow as little as $2,000 or as much as the cost of attendance per year
  • No pre-payment penalty
  • .25% interest rate reduction when you sign up for automatic ACH payments.
  • Availability for up to 90-days past due balances
  • 30-day no-fee return policy

Borrower Benefits:

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The cuScholar Private Student Loan provides two repayment options for the borrower. While in school you may choose to make interest only payments, or good-faith payments of only $25 per month. This system helps students develop responsible repayment habits,  ensures that they are constantly aware of their loan rates and balance, and can improve their credit score during their college career.

In-School Servicing

Questions?

 

Mailing a refund check?

 

LendKey, Inc.

Attn: Financial Operations

4445 Lake Forest Drive, Suite 350

Cincinnati, OH 45242

School Hotline 1-877-847-3964

Mon-Fri 9:00 am – 6:00 pm ET

Fax us at 1-866-208-2056

email schools@lendkey.com

 

FAQs