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A student loan you can count on
Fill the gaps in your college funding with Credit Union Student Choice.
Apply nowYou might be wondering how to pay for college when other forms of financial aid don’t fully cover your tuition. With Credit Union Student Choice, you’ll have a line of credit you can use as needed throughout your student career. And you only pay interest on what you withdraw, because college should be about chasing dreams — not dodging bills.
Benefits from application to graduation
FAQs
Do student loans cover housing and other living expenses?
Yes! Student loans — including lines of credit like Credit Union Student Choice — can be used for more than just tuition. The amount you’re eligible to borrow is based on your school’s Cost of Attendance (COA), which includes things like housing, meals, books, supplies, transportation and other necessary expenses. Your COA will vary depending on where you go to school and whether you live on or off campus.
How is a private student loan different from a federal loan?
Federal student loans are offered by the government and often come with fixed interest rates, income-based repayment options and loan forgiveness programs. They're a good first stop when paying for college.
Private student loans, like Credit Union Student Choice, come from financial institutions. They can help fill the gaps when grants, scholarships and federal student loans aren’t enough. With a private loan, you’ll usually need a credit check (or a co-signer), and rates and terms can vary — but you might get more flexibility or better rates if you have strong credit or choose options like autopay.
What are the eligibility requirements for a student loan?
For undergraduate student loans:
- U.S. citizens or permanent residents (non-resident students are NOT eligible)
- Eligible for Desert Financial Credit Union membership (You can apply without being a member, but you’ll need to qualify for and open a Desert Financial membership before the loan can be funded.)
- Continually enrolled in a degree-granting program and meeting the school’s minimum Satisfactory Academic Progress (SAP) criteria.
Should you withdraw during any term or fail to meet SAP requirements, your funding request can be denied, your line of credit may close, and you may enter repayment.- For fall and spring terms, you must be enrolled at least half-time.
- You may be enrolled less than half-time during fall and spring terms only if you were enrolled at least half-time the prior semester and hold senior status at a four-year, eligible, degree-granting undergraduate program. Otherwise, should you drop below half-time in the fall or spring, your funding request can be denied, your line of credit may close, and you may enter repayment.
- For summer term, you may be enrolled less than half-time.
- Before applying, make sure to check that your school is included in our listing of approved schools
- Able to meet Desert Financial Credit Union's standard underwriting criteria (a cosigner may be necessary in order for you to meet credit criteria, and may also help you qualify for a lower rate)
