College Student Loans

When Federal aid just isn't enough, Lake Trust Credit Union can help

The cost of college continues to rise, making it harder to afford. At Lake Trust Credit Union, we’re committed to helping students find the best funding for their education through College Financial Aid Plans.

In 2008, Lake Trust Credit Union partnered with other lending credit unions from across the nation to form the Credit Union Student Choice Loan Program. This college student loan partnership allows Lake Trust to offer an affordable solution and a way to fill the gap that federal aid hasn't covered. We've helped hundreds of families save money with low interest rates and no origination fees.

As not-for-profit lenders, credit unions have a distinct advantage since we are willing to cooperate and pool our resources to offer students and parents an alternative, better way to pay for college. You’ll get significant cost-savings by choosing your credit union’s college student loan over other lenders.

• No origination fees
• Lower interest rates
• Line of credit up to $75,000
• Apply only once
• Deferment of principal and interest while in school
• Flexible repayment terms including graduated repayment for two years
• Servicing retained for the life of the loan – never sold 
• Easily apply online° or by phone at 800.758.9830.

Recommended before applying for Credit Union Student Choice loan:

• Fill out the Free Application for Federal Student Aid (FAFSA). Before applying and filling out a FAFSA found at fafsa.ed.gov°, apply for your Personal Identification Number (PIN) at pin.ed.gov° . Your PIN serves as your electronic signature and provides access to your personal records.

• Apply for scholarships—you may be eligible for many of them.
  • Check with your college financial aid office for listings.
  • Free information on preparing for and funding education beyond high school including a financial aid and scholarship wizard can be found at studentaid.ed.gov°.
     
• Take the maximum amount of Federal Stafford Loans before applying for Student Choice Loan. On subsidized loans while you’re in school:
  • Government pays the interest
  • Caps the interest rate

Additional Student Resources:

Student Loan rate sheet

as of January 1, 2012

Detailed overview (PDF 32k)

Everything you need to know about Credit Union Student Choice Loans.

Student Choice frequently asked questions

Learn more about Credit Union Student Choice Loans.

Approved schools°

Nearly 2,000 approved colleges and universities nationwide with 45 in Michigan.

College preparation checklist

Adopted from the U. S. Department of Education

Funding education beyond high school 2011-2012°

The July 1, 2011 to June 30, 2012 Guide to Federal Student Aid from the U.S. Department of Education

Learn more about a better way to pay for college through the Credit Union Student Choice Loan Program°.

°Third party website. Lake Trust Credit Union is not responsible for the content, availability, security or compliance of any linked third party website. In addition, the site's privacy policies may differ from those of Lake Trust.