Student Lending From Community West Credit Union
Community West Credit Union offers several financial options to help college students fund their education. Credit union student loans offer potential benefits such as fixed payments and tax-deductible interest. You also deal with a financial establishment that offers numerous customer support options, making it easier to get answers to questions and help when you have an account issue.
Types Of Credit Union Student Loans
Community West Credit Union offers three tuition loan and refinance options.
- The CWCU Tuition Loan is available to permanent resident aliens and U.S. citizens who are enrolled in at least six credit hours in a semester. Funds can be used for an associates, bachelor’s or graduate degree, and maximum loan amounts are $50,000. Unlike a government loan, interest and principle can’t be deferred on a CWCU tuition loan, though fixed payments can be as low as $25 per month depending on the terms of the loan and amount borrowed.
- The CUSC Tuition Loan is available to credit union members who are enrolled in school at least half time. The loan is available to cover tuition and other expenses at public four-year schools or private nonprofit schools, and you may be able to deduct the interest from your taxes. In some cases, any co-borrower who meets requirements may be released from liability for this loan.
- The CUSC Refinance Loan is available to individuals who qualify for a CWCU membership, have graduated from an approved four-year school and have a current loan in repayment or a grace period. You can refinance up to $50,000 via fixed and variable rate programs with terms for five, 10 or 15 years.
Are You Eligible For A Credit Union Student Loan?
Eligibility for these private loans depends on a variety of factors, including creditworthiness. Factors such as your ability to pay the loan, credit history and cosigner may impact the amount of money you can borrow to cover tuition and what interest rate you can borrow at.
The team at Community West Credit Union works with you so you understand all of your options and can make an informed decision about funding your education. They also work with you throughout the life of your loan to ensure quality customer service.
Contact us today or visit branches in Grandville, Kentwood, Hudsonville, Rockford, Middleville or Comstock Park to complete an application for a credit union student loan. CWCU members can also call client services at 844-348-8960 to speak to a representative.