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Undergraduate Loans

Financing a college 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. By partnering with Credit Union Student Choice, Members 1st is able to offer student loans that fit your needs with no origination fees.

Credit Union Student Choice (CUSC), is an innovative student lending organization formed by credit unions from all over the United States. When you apply for a Members 1st Federal Credit Union Student Choice loan we become your lender and that makes you eligible for all of the other products and services offered at Members 1st.

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Undergraduate Loans

  • Student must be 18 years of age or older and enrolled at least half time in a bachelor’s degree granting program.
  • Student must be a primary member of our credit union with an account in good standing.
  • Available for accredited, 4 year non-profit schools. For a full list of eligible schools please visit our Student Planning page.
  • Borrow up to $40,000 per year (based on the cost of attendance at your school less any other financial aid you are receiving)
  • Interest Rate based on loan term and credit score
  • 0.25% rate reduction for automatic payments
  • Choose from 3 available repayment options:
    • Proactive Payments, also known as Flat Pay: $25 flat payment while in school and during the 6 month grace period after graduation
    • Interest Only Payments: Pay interest only while in school and during the 6 month grace period after graduation (subject to a $25 minimum)
    • Full Principal and Interest Payments: Pay full principal and interest payments while in school, grace and after graduation
  • Choose from 3 available loan terms:
    • 60 months
    • 120 months
    • 180 months – Only available when selecting Full Principal and Interest Payments
  • Cosigner release option after borrower makes 36 consecutive on-time monthly payments beginning after graduation (subject to credit and underwriting approval).