Educational Loans

Members 1st educational loan programs include:

Credit Union Student Choice Certified Undergraduate Private Education Line of Credit

Higher education becomes more costly each year. Unfortunately, there are often gaps left between a student's aid package and the actual cost of a college education. Members 1st is proud to introduce our new Credit Union Student Choice Partners alternative student loan program. This program has no loan origination fees and can help finance your educational needs that remain after all grants, scholarships, and federal student loan alternatives are used.

• Members 1st Federal Credit Union is the lender.
• Currently available for undergraduate loans only.
• A co-borrower is highly recommended.
• Student must be 18 years of age or older and enrolled more than half-time in a degree-granting program.
• Currently available only for certified schools; private and technical schools are not currently available.
• Terms are 20 years for loans under $40,000 and 25 years for loans over $40,000.
• Minimum loan amount is $1,000 and aggregate maximum is $75,000.
• Repayment begins at the end of the grace period, which is six months after the date of graduation or separation.
• Borrower must be a primary member of the credit union with an account in good standing.

Visit the Credit Union Student Choice Partners Web site today to learn more, access helpful loan resources, or apply online.

Apply for a Credit Union Student Choice Private Loan.

Learn more about this loan.

KeystoneBEST (Federal Stafford Loan)

• Loan in the student's name
• Subsidized or Unsubsidized -
• Subsidized - the government pays the interest on the loan while the student is in school, during grace periods, and during approved deferment periods.
• Unsubsidized - the student is responsible for interest that accrues on the loan.
• Principal payment is deferred until 6 months after graduation, withdrawal from school, or if the student drops below half-time status (6 credits).
• Maximum repayment term is 10 years.
• Low rates set by the Federal Government. Call the Student Loan Department at 800-283-2328 x 5721 for more details.
• To qualify for KeystoneBEST, borrower must be a PA resident or out of state resident attending any US Department of Education approved school in Pennsylvania.
• Borrowers not qualifying for KeystoneBEST may still obtain a Stafford Loan.
• Borrower must be a primary member of the credit union with an account in good standing.
• Members 1st Lender Code - 813385
• 1% origination fee and 1% default fee, which are deducted before funds are sent to the school.

KeystonePLUS (Federal Parent Loan for Undergraduate Students)

• Loan in the parent’s name.
• Can be used to cover the difference not covered by other financial aid awards.
• 3% origination fee and 1% default fee, which is deducted before funds are sent to the school.
• Maximum repayment term is 10 years.
• Normally, the Free Application for Federal Student Aid (FAFSA) must be on file to qualify.
• Fixed interest rate for loans disbursed on or after July 1, 2006.
• Pre-approvals available by applying online or by calling the Student Loan Department (800-283-2328 x 5721).
• Borrower must be a primary member of the credit union with an account in good standing.
• Members 1st Lender Code - 813385

GraduatePLUS (Federal Loan for graduate or professional students)

• Loan in the graduate or professional student's name.
• Can be used to cover difference not covered by other aid.
• Must be credit worthy to qualify.
• 3% origination fee and 1% default fee, which is deducted before funds are sent to the school.
• Fixed interest rate.
• Must complete the Free Application for Federal Student Aid (FAFSA) to qualify.
• Must utilize all Stafford Loan monies before applying for the GradPLUS program.
• Must be enrolled at least half-time and working toward a degree or certificate.
• Maximum repayment term is 10 years.
• Payment may be deferred while enrolled at least half-time; complete the in school deferment request form.
• Borrower must be a primary member of the credit union with an account in good standing.
• Members 1st Lender Code - 813385