Overview
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.
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 3.484% 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 EligibilityThere’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.
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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.
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