Coop Credit Union - Black River Falls, Wisconsin

 

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Important Changes to the Federal Student Lending Process

With the recently enacted Health Care and Education Affordability Reconciliation Act of 2010 (HR 4872), the Federal Family Educational Loan (FFEL) Program has been eliminated.  Private lenders, such as Co-op Credit Union, no longer have a role in originating or funding federal Stafford, PLUS, or Consolidation loans.

Federal Direct Student Loans
Beginning July 1, 2010 all new federal student loans will be issued via the William D. Ford Direct Loan Program.  The lender for your federal loans will be the U.S. Department of Education rather than your credit union or other financial institutions. 

Stafford and PLUS Loans:   Visit the Department of Education website for information about Federal Direct Stafford and PLUS loans.  It is suggested that you stay in close contact with your school’s Financial Aid Office to apply and monitor application status.

Consolidation Loans:  You may have the opportunity to consolidate your existing loans through the Federal Direct Loan Consolidation Program.  To view consolidation loan detail, visit the Department of Education Consolidation Loan website

Direct Lending Borrower Aids: Although our credit union will no longer be funding federal student loans, we would like to continue assisting you in whatever way we can. 

Below are resources to assist you through the Direct Loan process. 

 Direct Loan Guide 

 Frequently Asked Questions for Borrowers  
 

For Information on Existing Loans
For questions or service related to an existing Federal Family Educational Loan secured through Co-op Credit Union, contact Great Lakes (our chosen servicer) at 1-800-236-4300 or access your account information online at www.mygreatlakes.com

For questions regarding who holds or services your existing federal student loan(s), please access the National Student Loan Database, which is a Department of Education central database for student aid. 

   Visit our Auto Buyers Guide Online

  

 

 

For your convenience, this site includes links to other 3rd parties. Co-op Credit Union does not endorse or guarantee these 3rd party sites. The products and services offered on 3rd party sites, including investment and insurance products, are not products of Co-op Credit Union and may be insured by the NCUA or FDIC.  Co-op Credit Union does not maintain or control privacy or security on these sites, and as such, makes no guarantees as to the privacy of any information you may provide or disclose while on these sites.

Notice:
Transactions restricted by the federal Unlawful Internet Gambling Enforcement Act are prohibited and should not be processed through commercial accounts at this credit union.

Copyright 2005 Co-op Credit Union
100 East Main Street PO Box 157
Black River Falls, WI 54615
715-284-5333 or 800-258-0023


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