Private Student Loan Rates as low as
APR Effective 12/1/2019*
Private Student Loan
What are Private Student Loans?
BECU In-School Private Student Loans are designed to help meet the needs of incoming or current students. Private loans often provide the remaining funds needed after students receive other funding, usually from federal grants, federal loans, work study and scholarships.
- Covers the gap between financial aid and total cost of attendance
- Offers ability to apply individually or with a cosigner
Features and Benefits
- No origination fee (BECU doesn't charge you an application fee to process the loan)
- 0.25% APR interest-rate discount when you sign up for automatic payments
- No prepayment penalty.
- Flexible in-school payment options
- BECU member (it's free to join)
- Current or incoming students of an eligible college or university.
- U.S. citizen or permanent resident
- Legal adult in the state in which they reside (age 18 in most states)
Thinking of co-signing? You're in good company. Most new students use a co-signer to qualify for student loans. Here's what you need to know:
- Co-signers aren't required for private student loans, but students may not qualify without one.
- Cosigners may help a student borrower receive a lower interest rate than if the student applied on his or her own.
- Cosigners can be released from the loan after 24 months of consecutive, on-time payments. This just means you can remove their name from the loan.
Frequently Asked Questions
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