This program is currently unavailable. For available financing options, please contact us at 1-888-549-9050.

Student Benefits

  • No Origination Fee for all student borrowers.
  • Competitive Interest Rates and with good grades, potential for even lower rates.
  • 1% Interest Rate Reduction once 10% of the initial loan principal is repaid during the full repayment period.2
  • 0.25% Interest Rate Reduction when you sign up for automatic ACH payments.3
  • Cosigner Release Available for creditworthy borrowers after 24 consecutive on-time full
    principal and interest payments.
    4

Eligibility Requirements

  • Borrower must be enrolled in an eligible school.
  • Borrower must be a member or join EdCo Community Credit Union during the online application process.
  • Borrower and cosigner must be a US citizen or permanent resident.
  • Students are encouraged to apply with a creditworthy cosigner for a better chance of approval and/or lower interest rate.

1  APR = Annual Percentage Rate. This loan has a variable interest rate that is based on a publicly available index, the 1-Month LIBOR, as published in The Wall Street Journal. Your rate may change each month and will be calculated by adding the 1-Month LIBOR to a margin between 3.24% and 9.24%. Rates and terms based on credit criteria and are all subject to change. The lower rate displayed in the rate range above assumes a 0.25% rate reduction upon borrower enrolling in automatic payments. For more information about the automatic payment rate reduction, see #3 below.
Assuming a $10,000 loan amount, a 3.10% APR and the fullpayments option, you would make 54 (48 months in school + 6 month grace period) monthly payments of $25 while enrolled in school followed by 15 monthly payments of $98.09, and then 105 monthly payments of $97.35 to repay this loan. If the APR is 8.70% and the loan amount remains $10,000 you would make 54 monthly payments of $25 while you are enrolled in school followed by 50 monthly payments of $166.22, and then 70 monthly payments of $161.18 to repay this loan. The APR may be increased after consummation.
2  Subject to 2.99% floor rate.
3  Subject to 2.99% floor rate. Requires continued enrollment of automatic payments. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is cancelled, any increase will take the form of higher payments.
4  Subject to lender approval. In order to qualify, the borrower, alone, must meet the lender’s credit criteria and income requirements, and the borrower’s loan account must remain current up until the lender’s decision to release the cosigner has been made.

Student Benefits

  • No Origination Fee for all student borrowers.
  • Simplify Your Finances with one easy monthly payment.
  • Interest-Only Repayment Option available for the first 4 years followed by 11 years of principal and interest repayment.
  • 0.25% Interest Rate Reduction when you sign up for automatic ACH payments (subject to 2.90% floor rate).2
  • Cosigner Release Available for creditworthy borrowers after 12 consecutive on-time full principal and interest payments.3

Eligibility Requirements

  • Borrower must have graduated from an eligible school.
  • Borrower must have a reliable, steady income of at least $2,000 per month.
  • Borrower and cosigner must be a US citizen or permanent resident.
  • Borrower must be a member or join EdCo Community Credit Union during the online application process.

1  APR = Annual Percentage Rate. This loan has a variable interest rate that is based on a publicly available index, the 1-Month LIBOR, as published in The Wall Street Journal. Your rate may change each month and will be calculated by adding the 1-Month LIBOR to a margin between 2.99% and 7.19%. Rates and terms based on credit criteria and are all subject to change. The lower rate displayed in the rate range above assumes a 0.25% rate reduction upon borrower enrolling in automatic payments. For more information about the automatic payment rate reduction, see #2 below.
Assuming a $10,000 loan amount, a 2.90% APR, and the level repayment option, you would make 180 monthly payments of $68.58 to repay this loan. If the APR is 7.37% and the loan amount remains $10,000, you would make 180 monthly payments of $91.96. The APR may be increased after consummation. Requires continued enrollment of automatic payments. If the automatic payment is cancelled at any time after enrollment, the rate reduction will discontinue until automatic payment is reinstated. May be suspended during periods of forbearance and deferment.
2  Subject to 2.90% floor rate. Requires continued enrollment of automatic payments. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is cancelled, any increase will take the form of higher payments.
3  Subject to lender approval. In order to qualify, the borrower, alone, must meet the lender’s credit criteria and income requirements, and the borrower’s loan account must remain current up until the lender’s decision to release the cosigner has been made.