A Better Way to Pay for College
Paying for college can be the most difficult obstacle you face as you pursue your degree—especially when you figure in the cost of housing, books, gas and food. Federal student loans, grants and scholarships might not cover all your expenses.
A Student Choice Loan from Truity Credit Union is an affordable way to fill the funding gaps that federal aid can leave behind.*
Before applying for a Student Choice Loan Solution, be sure to follow these steps:
Why choose a Truity Student Choice Loan?
- Fill out a FAFSA (Free Application for Federal Student Aid) form found at fafsa.ed.gov
- Check with your financial aid office for scholarship listings and then apply for as many as you can. You may be surprised at how many scholarships are available. While many will not pay for your entire tuition, every little bit you don’t have to borrow helps.
- Take the maximum amount of Federal Stafford Loans before applying for the Student Choice Loan Solution. If you qualify for a subsidized Stafford Loan, the government will cap the interest rate and pay the interest while you’re enrolled.
- NO Origination Fees: Many other private student loans—and even a Federal PLUS loan—include an origination fee that can be up to 3%.
- Extremely Competitive Rates: As a not-for-profit, member-owned institution, we are able to give back to our members by offering lower rates and fewer fees.
- Convenient Line of Credit Structure: Instead of applying each year for private financing, a Student Choice loan requires only one application to secure financing for an entire college career.** Multiple draws in subsequent years on the same line make the process easier.
- Flexible Repayment Options: Whether you choose to defer all payments until after you graduate or start payments while still in school, you can select an option that fits your situation.
Who is eligible?
Undergraduate students enrolled at least half-time in a four year degree-granting program at a public or private non-profit school. Over 1,700 schools and campuses across the U.S. are eligible. Only members are eligible for student loans through the Credit Union.
How much can I borrow?
Once approved, students can borrow up to the school’s calculated cost of attendance less other financial aid received. The exact amount will be certified by the school. The aggregate maximum (total amount you can borrow throughout your college career) is $75,000.
How quickly are the funds disbursed?
Funds are disbursed directly to the school by Truity Credit Union on the date the school requests payment. Any excess funds beyond what is needed by the school will be disbursed to the student by the school.
*With approved credit; some restrictions apply.
**Subject to credit qualification and annual credit review.