Student Loans

 

Student Loans for Higher Education in Ohio

Stafford Loan

The Stafford Loan is a federal financial aid program designed to assist college students who are enrolled at least half-time. To access this assistance, students must complete the Free Application for Federal Student Aid (FAFSA), which can be submitted through the official website at https://studentaid.gov.

There are two primary forms of Stafford Loans available:

1. Subsidized Stafford Loan: These loans are granted based on a student’s financial need. The unique feature of subsidized loans is that the government covers the interest on the loan while the student is enrolled at least half-time in college. This means that borrowers do not accrue interest during their time as students, making these loans an attractive option for those with demonstrated financial need.

2. Unsubsidized Stafford Loan: Unlike subsidized loans, the eligibility for unsubsidized loans is not determined by financial need. They are accessible to all eligible students, regardless of their financial situation. However, there is a key distinction: students are responsible for paying the interest on these loans from the moment they are disbursed. This means that interest accrues from the time of disbursement, even while the borrower is in school.

These Stafford Loans provide valuable financial support for college students, offering options for both those with financial need and those seeking financial assistance without income-based restrictions.

 
 

In-School Student Loans

Unity Catholic Federal Credit Union recognizes the financial challenges that Ohio students often face when pursuing higher education. To provide much-needed support, we offer a private student loan program in collaboration with LendKey, a trusted private student loan underwriter. Our Unity Catholic Federal Credit Union Private Student Loan Program is designed to bridge the gap between your existing financial aid package and the full cost of your educational expenses.

Here's what you can expect from our private student loan program:

1. Versatile Use: The Unity Catholic Federal Credit Union Private Student Loan can be utilized for a wide range of education-related costs, including tuition, room and board, textbooks, supplies, and other essential educational expenses.

2. Affordable Features: We are committed to making education financing as accessible as possible. That's why we offer:

  • No Application Fee: You won't be charged an application fee when applying for our private student loan.
  • Competitive Interest Rates: Our interest rates are competitive, helping you minimize the overall cost of your education.
  • Borrow as Little as $2,000.00: We understand that educational expenses vary, and you can borrow as little as $2,000 to meet your specific needs.
  • Flexible Payment Options: Choose between making interest payments while in school or opt for a nominal monthly payment of $25.

3. Academic Recognition: LendKey, our partner in this program, takes a holistic approach to evaluating student borrowers. In addition to traditional credit bureau reports, they also consider your academic achievements. This approach aims to acknowledge and reward your dedication to your studies.

4. Financial Responsibility: Before considering a private student loan, we strongly encourage all students to explore and exhaust all available options, including scholarships, grants, and federal loans. These forms of financial aid can help reduce the overall cost of your education.

Applying for our Unity Catholic Federal Credit Union Private Student Loan Program is both easy and free, ensuring that you have a straightforward path to secure the financial assistance you need to achieve your educational goals. Invest in your future with confidence, and let us support your academic journey.

It’s easy and free to apply!

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Student Loan Refinancing

Unity Catholic Federal Credit Union can help you take control of your student loan debt. Refinancing your federal and private student loans can help reduce your monthly payments or even help pay off your loans faster.

We’ve partnered with LendKey to make repaying your student loan debt easier! Plus, enjoy these great benefits.

  • Make one loan payment, instead of several
  • Choose the option that best fits your situation
  • Discount for making automatic (ACH) payments
  • Co-signer release after 24 months of on-time, interest and principal payments, when requested
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