edgefcu.lendkey.comStudent Loan Consolidation - edgefcuconsol - LendKey

LendKey Sign In Need Help? Call us at: 888-549-9050 Student Loan Consolidation |default_lender_name| Private Student Loan |var_rate_range| Subject to |student_floor_rate| floor rate APR starting at ~~ * |default_lender_name| Private Student Loan Federal loans not enough to cover the cost of your college education? The private student loan available through |default_lender_name| can be the answer to your funding needs. Main Program Features Borrow as little as |student_minimum_amount| or up to Cost of Attendance per year for a maximum of |student_undergraduate_aggregate_limit| in undergraduate loans or |student_graduate_aggregate_limit| in graduate loans Choose between making interest payments or a nominal $25 Proactive Payment towards the loan while in school Use our private student loan to pay for qualified education expenses such as tuition, books, room/board, and computers Quick credit decision once we receive your completed application Student Benefits |student_origination_fee_list_item| Competitive Interest Rates and with good grades, potential for even lower rates |student_irr_list_item| 30 Day No-Fee Return Policy allows you to cancel the loan within 30 days of disbursement without fees or interest |student_cosigner_release_list_item| Eligibility & Credit Requirements Borrower must be enrolled in an eligible school and pursuing a degree program on at least a half-time basis Borrower must be a member or join |default_lender_name| during the online application process Borrower and cosigner may be a |student_citizenships| Borrower must meet all underwriting criteria for loan approval Students are encouraged to apply with a creditworthy cosigner for a better chance of approval and/or lower interest rate Start Now » *APR = Annual Percentage Rate. Rates and terms based on credit criteria and are all subject to change. **Subject to Credit Union approval General Questions What is a |default_lender_name| Private Student Loan? What is the difference between a private student loan and a federal student loan? How do I know if I’m eligible for financial aid? How much financial aid am I eligible to receive? What is an Expected Family Contribution (EFC)? What is a |default_lender_name| Private Student Loan? The |default_lender_name| Private Student Loan can be used to pay for qualified educational expenses including tuition, room and board, books, and other school related expenses. Private student loans serve as a way for students to fill the funding gap between the cost of attending school and the amount of federal loans, grants, and available scholarships. [TOP] What is the difference between a private student loan and a federal student loan? Federal student loans follow guidelines set forth by the U.S. Dept of Education and typically offer fixed and lower interest rates compared to private student loans. However, federal loans, unlike most private loans, have borrowing limits, which may not allow a student to borrow enough to cover the entire cost of education. Private loans help students fill the funding gap between the cost of attending school and the amount of federal loans, grants, and available scholarships. Both private and federal student loans typically allow students to defer payments while in school and some offer economic forbearance options once a student completes school. Unlike federal loan programs, private lenders assess the credit history of the borrower and cosigner before making a loan. [TOP] How do I know if I’m eligible for financial aid? Eligibility for federal, state and university funded financial aid is determined by completing the Free Application for Federal Student Aid (FAFSA). All students are strongly encouraged to apply for federal aid by completing the FAFSA, which can be obtained online at www.fafsa.ed.gov . [TOP] How much financial aid am I eligible to receive? The financial information you provide in the Free Application for Federal Aid (FAFSA) is used by the government to determine your Expected Family Contribution (EFC), which is the amount you and your family are expected to pay towards your education. The EFC is then subtracted from the cost of attendance for your respective school to determine the amount of financial aid you are eligible to receive. [TOP] What is an Expected Family Contribution (EFC)? The EFC is a calculated assessment of how much your family is expected to contribute to your college costs. The EFC takes into consideration your family’s financial strength – income and assets. Other factors considered include the number of family members and number of family members in college. [TOP] Private Student Loan Eligibility Who is eligible for a loan? How do I know if my school is eligible for a loan? Does applying for a federal loan impact my ability to obtain a loan? What is a cosigner? Is a cosigner required to obtain a loan? Will the cosigner’s credit record be affected? Is the cosigner responsible for repaying the loan? Who is eligible for a loan? To apply for a |default_lender_name| Private Student Loan, you must be a |student_citizenships| enrolled at least half-time in a degree-granting program at an eligible school, and you must be a member of |default_lender_name|. You or your cosigner also must meet our credit requirements. Choosing a creditworthy cosigner will increase the likelihood of being approved and may lead to a lower loan rate. You can apply without a cosigner if you meet all of the credit criteria by yourself. [TOP] How do I know if my school is eligible for a loan? You can confirm whether or not your school is an eligible school on the first page of the application. [TOP] Does applying for a federal loan impact my ability to obtain a loan? No. Students are encouraged to explore and exhaust all federal aid options first, and then use private loans to help pay the remaining education expenses. [TOP] What is a cosigner? A cosigner is a parent, grandparent, guardian or other adult who is creditworthy and willing to assume legal responsibility for the loan liabilities along with you. The cosigner must be a U.S. Citizen or Permanent Resident. [TOP] Is a cosigner required to obtain a loan? In most instances, a cosigner is required to obtain a loan. A creditworthy cosigner increases the likelihood of your loan approval and may lead to a lower loan rate. Creditworthy students that meet the credit requirements may apply without a cosigner. [TOP] Will the cosigner’s credit record be affected? Yes, in a cosigned loan both the borrower and the cosigner are jointly liable for making all loan payments. The loan will appear on both the borrower and cosigner’s credit report. [TOP] Is the cosigner responsible for repaying the loan? If the borrower fails to repay the loan, then the cosigner is responsible for repaying the loan. However, the cosigner may be released of this obligation once the borrower is able to meet certain criteria to determine creditworthiness and makes |cosigner_release_months| consecutive and on-time full payments of principal and interest during the Repayment Period. [TOP] Application Process When should I begin the process? How much can I borrow? How do I apply for a loan? Do I need to be enrolled in an educational institution to complete the application process? What proof of enrollment do I need to provide? What is school certification? Will this loan be certified? How does my cosigner complete his/her portion of the application? Will both the borrower and cosigner’s credit be checked? What is ACS? How do I check the status of my application? What do the stages of the status bar mean? After filling out an application, is there a commitment to borrow? When should I begin the process? We encourage you to start early. You can start the loan application process once you know what school you will be attending, the Cost of Attendance for the current academic year, and can provide a proof of enrollment. You should allow yourself 6-8 weeks from the time of the initial application...