Student Loans
Whether you're a student, alumni, or lifelong learner - we've got student loans to fit your learning style.
smart options for student lending
Private Student Loans
Our low cost student loans are designed to meet your education needs.*
- Complete your entire application online in 15 minutes.
- Manage your loan completely online 24/7. No more old-fashioned paperwork.
- No application fee for all student borrowers.
- Multiple in-school payment options, including interest-only and $25/month.
It can be used to pay for qualified education expenses including:
- Tuition
- Room & board
- Books & computer
Student Loan Refinancing
Refinancing student loan debt can lower your monthly payments, reduce your interest rate, and extend the payment period on your loans.
- Simplify your finances with one easy monthly payment.
- Replace those high interest rates with a rate that better fits your budget and lifestyle.
- Complete your entire application online in under 15 minutes.
- No application fee - why pay us money to process your loan application?
College is a big investment. But don't worry, we're here to help right through graduation and beyond.
* Private student loans should be used as supplemental funding after exhausting all other sources of financial aid, including grants, scholarships, and federal student loans. Federal loans offer more attractive terms when compared to most other borrowing options, including private student loans. For more information on federal loans, visit http://www.fafsa.ed.gov.
Private Student Loans
Student Loan Refinancing
High School Senior?
If you're a high school senior headed off to college or continuing with higher education, be sure to apply for our annual Commonwealth Credit Union Scholarship.
Search available scholarships nationwide
Find hand-picked, quality scholarships to help pay for school.
Common Questions
Am I Eligible?
For Private Student Loans, borrower must meet the following requirements:
- U.S. Citizen or Permanent Resident
- Enrolled at least half-time in an eligible school
- Meet minimum credit requirements
- Subject to approval
For Student Loan Refinancing, borrower must meet the following requirements:
- U.S. Citizen or Permanent Resident
- Graduated from eligible school
- Meet minimum income and credit requirements
What is the importance of a Cosigner?
Applying with a creditworthy cosigner not only increases your chance of approval, but also may lead to a lower loan rate
What are some tips to keep in mind?
Remember to:
- Exhaust all federal loans
- Get started early
- Only request the amount you need for the current academic period
Do I need to complete the FAFSA in order to qualify for private student loans?
No. However, we encourage you to complete the FAFSA each year to ensure that you take full advantage of grants and other federal aid you may be eligible to receive. Private student loans are a way for you to fill the funding gap between the cost of attending school and the amount of federal loans, grants, and scholarships available to you.
What is private student loan refinancing?
Student loan refinancing allows you the ability to consolidate your current student loans and to potentially lower your interest rate.
How much can I borrow (for a refinance)?
Up to $125,000 in undergraduate private student loan debt and up to $175,000 in graduate private student loan debt.
Can I consolidate my federal loans?
Yes; however, please note that you may lose certain benefits associated with your federal loans.
What repayment options are available?
- Interest-Only Repayment: 4 years of interest-only payments followed by Level Repayment for the remaining 11 years. This may be an option for recent graduates starting at lower salaries who need to manage their current cash flow.
- Level Repayment: Requires full interest and principal payments over the term of the loan.
