Educational Loans
SeaComm Federal Credit Union offers a variety of ways to help students
and their parents deal with the high costs of an education
through Student Loans and Parental Loans.
Student Loans
SeaComm Federal Credit Union participates in these Federal
student loan programs to make low interest loans available
to students to help pay the costs of post-secondary education.
To be eligible, you must have financial need certified by
the educational institution and be enrolled at least half-time.
Repayment begins 6 to 9 months after you drop below half-time
enrollment. The rate
is a variable rate with an interest rate cap of 9%.
Please call a Member Service Representative for the current
rate and full details.
Parent Loans
SeaComm FCU also participates in the Federal PLUS (Parent
Loans for Undergraduate Students) program. This program helps
the parents of dependent undergraduate students borrow low
cost funds to pay for education.
The interest rate for
the Federal PLUS program is based on the 52 week Treasury
Bill plus 3.1% with a cap of 10%. The borrowing limit
is $4000 annually with an aggregate limit of $20,000. Unlike
the student loans, there is no grace period for repayment
of Federal PLUS Loans.
Follow this link to Great Lakes Higher Education Services to find out more information on how SeaComm can help you get the money you need for your education.
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