Focus on Your Future

Worry Less About College Funding

Paying for college shouldn’t feel like starting over every year. Our flexible line of credit is designed to grow with your student—filling funding gaps when scholarships, grants, and federal aid fall short. With multi-year approval*, you apply once and can access what you need, when you need it—no annual reapplications, no surprises.

Rates starting at 6.50% APR^† variable and 4.25% APR fixed.

Rates starting at 6.50% APR^† variable.

Ready when you need it.

Unlike traditional private student loans, an education line of credit lets families borrow what they need, when they need it, without re-applying.

Rates and Terms

Undergraduate

Borrow up to $60,000

6.50% - 13.25%

Variable Rates (APR^†)
20 or 25 year repayment^◊

4.25% - 11.25%

Fixed Rates (APR)
10 year repayment^◊◊

Apply

Apply with a credit-worthy co-borrower to improve your chance of approval and possibly get a better rate!

You can also reduce your rate by 0.25% by setting up automatic electronic payments**.

Important Disclosures and Rate Details

Why borrow with Utilities Employees Credit Union?

When you choose your credit union to fund your student loans, you'll benefit from great rates, low fees, convenient repayment terms, and most importantly, a life-long relationship with a lender you can trust.

Competitive Rates

Plus, get a rate discount when you set up automatic electronic payments**.

Flexible Funding

Pay for any education related expenses including tuition, books, and housing.

Multi-Year Approval

Secure your college funding with just one application*!

Private vs. Federal PLUS Loans

cover of Private v. Federal PLUS Loans

Are you considering Federal Direct PLUS or private student loans to cover your education funding gaps?

There are some key differences between the two – learn more in our downloadable guide, complete with a side-by-side comparison chart.

Download Now

FAQs

With our line of credit products, you will only have to complete the application process once. However, your loan is subject to annual review and credit qualification, and you must continue to meet your school’s Satisfactory Academic Progress (SAP) and enrollment requirements.

Each year, you will simply request additional funds (called a "draw") for the amount you wish to have disbursed to your school (based on your school's certified amount).

Please visit our eligibility page.

Processing times vary based on time of year, document submission, and the school’s own certification process. In general, you can expect the process to take anywhere from 5-45 days, depending on the documentation available.Though your loan may be processed, it is up to the school to "certify" your loan. Certification involves selecting a disbursement date and loan amount for your loan. The school has the final say on when your loan disburses and in what amount.

View all FAQs.

* Subject to annual review and credit qualification. Must meet school's Satisfactory Academic Progress (SAP) requirements. Approved schools subject to change without notice.
† APR = Annual Percentage Rate
◊ Variable Rate Option: the repayment term is 20 years if your principal balance at repayment is $40,000 or less, and 25 years if your principal balance at repayment is more than $40,000.
◊◊ Fixed Rate Option: the repayment schedule is fixed at 10 years regardless of the amount you borrow. Full repayment begins at the end of the grace period, unless full repayment is selected during enrollment.
** The APR will not fall below the floor rate regardless of the index or any additional rate discount