Scott Schools Private Student Loan Program

Scott Schools Private Student Loan features:

• Transparent interst rates. No "as low as" pricing.
• Deferred repayment. No payments are due while you're enrolled at least half time and for six months after you graduate, leave school or drop below half-time enrollment.
• Cosigner and no-cosigner options.
• Several repayment plans once you do begin repayment to best fit your financial situation.

Cosigner Loan Option

If you or your cosigner(s) meet the underwriting eligibility, you may qualify for a lower interest rate and 0% origination fee by applying for the cosigner loan (option 1). A lower interest rate will save you money over the life of the loan.

No-Cosigner Loan Option

If you don't have a creditworthy cosigner, you may qualify for the no-cosigner loan (option 2). This loan has a higher interest rate and origination fee than the cosigner option.

Apply for the Scott Schools Private Student Loan Program

Scott Schools Credity Union members can apply online Here for a private student loan. If you are not a member of Scott Schools Credit Union you will need to become a member to qualify for the loan program. The loan servicer, Iowa Student Loan, will handle the processing and approval of your Scott Schools Private Student Loan Program Application.

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Compare rates, fees, terms and other loan information.

General Guidelines for Scott Schools Private Student Loan Program

All applicants must:

• Be a member or become a member of Scott Schools Credit Union.

NOTE: Once Scott Schools Credit Union receives the loan application, applicants have 30 days to finalize membership with the credit union.

• Be the age of majority in their sate of residence at the time of application.
• Not have defaulted on any private or government education loan.
• Be attending any nonprofit, Title IV eligible, degree-granting, regionally accredited college or university or nonprofit school of nursing.
• Be accepted, enrolled or attending on at least a half-time basis, as defined by the school, and be making satisfactory academic progress in an eligible education program.
• Be a citizen or permanent resident of the United States. Cosigner(s) must be citizens of the United States.

Scott Schools Private Student Loan Program

This private student loan is designed to supplement - not replace - federal, state and institutional financial aid to cover your expenses. It is available to students attending any eligible college or university provided all other eligibility requirements are met.

Scott Schools Credit Union requests that you work with financial aid professionals at your respective college or university to ensure that you have first applied for all applicable forms of federal, state and institutional financial aid for which you are eligible, including federal student loans, prior to obtaining a private student loan. Accepting a private student loan before utilizing other types of aid available may decrease your eligibility for federal, state and institutional aid.

Complete the FAFSA First

The first step in applying for financial aid, which includes federal student loans, is completing the Free Application for Federal Student Aid (FAFSA). The FAFSA is a free form provided by the U.S. Department of Education that may be completed without professional assitance via paper application or online at www.fafsa.gov.

In your award letter from your college, the financial aid office will inform you of your eligibility for federal student loans.

Additional Collge Planning Assistance

If you are looking for information on planning for, applying to, paying for and succeeding in college, Scott Schools Credit Union recommends the Iowa College Access Network (ICAN). ICAN offers free services, including assistance with completing the FAFSA, to students and their families. Visit www.ICANsucceed.org

or call (877) 272-4692 for more information about ICAN.

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Your Savings Federally Insured to at least $250,000.00 and backed by the full faith and credit of the United States Government NCUA National Credit Union Administration, a U.S. Government Agency

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