Make College a Reality
Get Your Student Loan from
Co-op Credit Union
Lender Code: 831171
You know the value of a college education.
Getting a college degree is a very worthwhile
goal,
but the cost of a college education can be overwhelming for both
students and parents. That’s why Co-op Credit
Union offers Federal Family Education Loan
Program (FFELP) loans. If you or another family
member plans to attend a university, technical
college, or any specialized training program,
CCU can help you with the funding you need to
pursue your dreams.
FFELP offers
loans for students and parents.
·
Stafford
Loans
o
The subsidized Federal Stafford Loan is
based on financial need. The government pays the
interest while you are in school.
o
The unsubsidized Federal Stafford Loan is not based on need
but family income is a determining factor. You
pay all the interest, although you can have the
payments deferred until after graduation.
·
Parent
PLUS/Grad PLUS Loans
Creditworthy parents of dependent undergraduate students and
graduate/professional students can apply for
this loan, which is not based on need.
Learn more about low-interest federal student
loans.
Refer to the
Student Loan Quick
Reference Guide
for more details on Stafford and PLUS Loans
including:
·
current rate
·
loan limits
·
borrower fees
Here’s how to obtain a federal student loan.
1. Complete a FAFSA
Before you begin applying for a
Stafford and/or PLUS Loan, you must first
complete the
Free Application for Federal Student Aid (FAFSA).
It must be completed for each academic year that
you request federal aid. FAFSAs for the upcoming
academic year are available
online
on or after January 2. Contact your school for
their application deadline.
2. Receive your SAR
Once your FAFSA is processed, a Student Aid Report (SAR) is
created. If you completed your FAFSA online,
allow 1-2 weeks for you and your school to
receive the SAR electronically. Paper FAFSAs
take 6-8 weeks to process.
3. Receive your Award Letter
Your school(s) use data from your SAR to determine your
financial aid award for the current academic
year and send you an award letter by e-mail or
US Mail. (If your letter mentions the William
D. Ford Direct Lending Program, contact your
school for the appropriate promissory note.)
4. Complete a Master Promissory Note
Apply fast and easy on-line and receive answers
to frequently asked questions.
Apply Now
for a Federal
Stafford Loan
Apply Now for a Federal PLUS (Parent) Loan
Apply Now
for a Federal Graduate/Professional PLUS Loan
5.
Your School will Receive the Funds
Stafford, Parent PLUS and GradPLUS Loans are
guaranteed and serviced by
Great Lakes. When
Great Lakes receives your Master Promissory Note
and School Certification Form from the school
indicating the loan amount and disbursement
dates, funds will be sent to the school.
6. Access Your Loan Account Online
You can check the status of your loan, view your
account information and make payments from your
account 24/7 at
www.mygreatlakes.org,
Choose
”Borrowers” and then log in to access Internet
Borrower Inquiry Service. This site offers a
variety of tools for calculating the cost of
your loan. It’s your resource to forms, a
glossary of financial aid terms, contact
information, and lots of other information to
help you manage your loans.
7. Call These Toll-free Numbers for Loan Inquiries
·
Contact
BEFORE
your loan is disbursed to the
school:
Great Lakes
at 1-800-247-0462
·
Contact AFTER
your loan is disbursed to the
school:
Great Lakes
at 1-800-236-4300
After graduation, consolidating your student
loans is an option. CCU's Consolidation Lender
Code: 871171
After you graduate, you can consolidate your
student loans, even if you only have one.
Contact a Great Lakes Consolidation
Representative by calling 1-800-950-0152 to
determine if consolidation is in your best
interest. If you wish to consolidate your loans
and your eligible loans have a total balance
that exceeds the minimum requirements, you may
consolidate online using Great Lakes
Consolidation Loan Assistant.
Manage your finances.
Co-op Credit Union and
Great Lakes
are committed to helping students learn to
manage their finances. The regularly updated
Personal Financial Management provides
information on anticipating college costs and
staying in control of your finances while in
school.
Plan
your future. Visit these Web sites.
www.studentaid.ed.gov - Detailed student aid
and student loan info from the U.S. Dept of Ed.
www.fafsa.ed.gov - Online
application for financial aid (FAFSA).
www.pin.ed.gov - Apply for a PIN number to
complete online FAFSA.
www.nslds.ed.gov - View the history of the
federal student financial aid you have received.
www.collegeplan.org - Information on college
selection, admissions, financial aid and
scholarships.
Acrobat Reader
is required to view these files.
Remember, low or no cost "student pack" services
are available from CCU for the college student:
* FREE checking
* VISA Debit/ATM card
* Line-of Credit Overdraft Protection
* MasterCard (appropriate limit)
* Teller-Phone audio response access
* HFS (Home-internet
Financial Services)