Student Loans

Private Student Loans | Student VISA Credit Card | Beginnings Loan | Student Loan Counseling Tool | Student Loan Calculators

Private Student Loans

Louviers FCU provides privately-funded student loans through Education Loan Source. Loans are available for both undergraduate and graduate programs at certified educational institutions. Borrow up to $45,000* annually to pay for tuition, fees, room and board and other qualified expenses such as books or travel costs.

Who Is Eligible?

  • Borrower must be 18 years or older.**
  • Borrower must be attending school on a half-time basis or more at an eligible college or university (our school list is provided in the application).
  • Borrower must be creditworthy (having a satisfactory credit score and credit history), or may apply with a creditworthy cosigner to increase his/her chances of getting approved and obtaining a lower interest rate and/or loan fee.
  • Borrowers may request that the cosigner be released after 36 consecutive on-time payments.
  • Borrow must be a member of Louviers Federal Credit Union. If you are currently not a member, you will be asked to complete a membership application after you apply for your student loan.

Rates and Terms

  • No payments are required until six months after graduation.
  • Repayment terms up to 15 years.
  • Interest rates are based on a 3-month LIBOR (London Interbank Offered Rate) and range from LIBOR plus 4% to 9%. Your starting interest rate will be determined by your credit score and other factors. Paid on a daily balance and compounded quarterly.
  • Loan fees range from 0% to 6%.

Features and Benefits

  • Borrow up to $45,000 annually.*
  • Reduce your interest rate by 0.25% when you elect to have your loan payments automatically withdrawn from your checking or savings account.
  • Receive an additional 0.25% interest rate reduction after 48 consecutive on-time payments.
  • There are no pre-payment penalties, which means you may make higher monthly payments or pay the loan off prematurely without penalty.
  • Applying for a private student loan is easy and convenient through our online application, available 24/7.

APPLY NOW or contact 800-592-1270 for more information.

*Annual loan limits will be determined by the individual school's cost of attendance minus any financial aid already granted.
**Or age of majority.

Student VISA Credit Card

Louviers FCU is dedicated to providing our members with the best credit cards around! Try us first when choosing the credit card that is right for U. Our Student VISA Credit Card features a lower limit so that our members with no/minimal credit history can build a sound financial foundation. APPLY ONLINE or visit us at one of our branches, today!

Our Student VISA Credit Card includes:

  • No annual fees
  • Competitive Rates
  • A 25-day grace period
  • Access to cash advances at ATMs and other locations where Visa is accepted*
  • Free travel life insurance when you use your card to purchase land, sea or air travel tickets
  • A low monthly payment of just 2% of your balance, or $10, whichever is greater

*Cash advances must be conducted in person anywhere Visa is accepted. The same interest rate that applies to purchases will also apply to cash advances, plus, cash advances will incur a 2% fee on the amount advanced. A minimum fee of $5 will be charged if 2% of the advance is less than $5.

Beginnings Loan

As you grow older and need assistance in paying for events such as marriage, home, and family, Louviers is here for U. We can help you get your feet on the ground with our Beginnings Loans. Not only do we provide you with a quality loan, we will also help to walk you through your lending decision. As always, our members all get a fair rate and don’t have to worry about “hidden” fees. Stop by and see one of our Member Service Representatives (MSR’s) or call today to prepare for your tomorrow!

Student Loan Counseling Tool

Our Student Loan partner will also be piloting a Private Student Loan course.

Congratulations on your decision to attend college! Before you take the important step of figuring out how you will finance your education‚ it’s important that you have all of the information to help you make the right choices. The options available to you are significant — and range from scholarships and grants to federal and private student loans. This counseling tool is a critical part of your education and it’s free!

Our Student Loan Counseling tool will help you better understand the features and benefits of both private and federal student loan programs‚ as well as your rights and responsibilities. You also have access to a glossary of terms‚ and will receive information regarding many of the required disclosures which are associated with education loans. Louviers has provided you with this important tool to help you become a wiser consumer. You will need to register as a new user and choose the school you are attending. A quiz is included to ensure you retain the critical information you will need to finance your education. It’s what you should know before you borrow!

Student Loan Calculators

Use the following calculators to help you determine your best course of action in planning for how to fund your higher education.