Loans for New or Current Students


We believe you shouldn’t need an advanced degree to be able to figure out how to pay for education-related expenses. That’s why we offer easy-to-use private student loans that help you cover the shortfall when federal student loans aren’t enough.

Loan Details

Whether you need to cover your full tuition or just a portion of it, you’ve come to the right place. You can borrow from $2,500 to $12,500 annually and up to $40,000 lifetime. There are no origination, repayment, or insurance fees. We offer rates as low as 3.48% APR* plus you can get a 0.25% rate reduction when you set up automatic payments.


To qualify for this loan, you must be enrolled at least half-time at an eligible four year college or university (all U of I campuses or any other school with a cohort default rate of 10% or less); meet satisfactory academic progress requirements as defined by your school; have a satisfactory credit score, at least 2 years of credit history, income sufficient to make payments, and U.S. citizenship or Permanent Alien status (OR have a cosigner who meets these conditions); and be a member of UICCU.

Check School Eligibility

Repayment Information

There’s a 6-month grace period before repayment begins, and you’ll have up to 12 years to repay your loan. You can defer payments while you’re in school half-time or full-time. During the first two years of your repayment period, you have the option to make interest-only payments. Your payment due date has a 10-day grace period. If you have a cosigner, there’s an option to release them after 48 consecutive, on-time payments.

Helpful Links

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Check the status of your application or current loan here.

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Process timeline

After you submit your application, it can take 4-6 weeks to receive any loan funds. To ensure the application process continues to move forward, please complete your parts of the application in a timely manner. You can do this by checking on the status online. We’ll also contact you by email or phone if we need information from you.

See the full timeline

Get your student loan from the credit union that knows how to serve students!

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*Variable Rate: 3.48% annual percentage rate (APR). The APR assumes that you will be in school for 4 years and have a 6-month grace period before repayment begins. Borrowing $10,000 at 3.48% accrues $1,522.62 in interest during 4 years in school and the 6-month grace period, resulting in 3.48% APR. Rate is variable and can change quarterly. For Private Student Loans, the APR can differ from the interest rate as it considers fees paid to obtain the loan, your interest rate, if payments are deferred and reflects the cost of the loan as a yearly rate. You are not required to make payments on your loan while in school, although you may make principal and interest payments any time. Making payments while attending school will lower your APR. The minimum loan amount is $2,500. Your interest rate will be determined by your credit score or your cosigner’s, whichever is greater.