Search
Locations
eServices
Join PEFCU
Our Rates
Investments
Fraud Alerts
Calculators
Events Calendar
News
Careers
Contact Us
STUDENT LOANS
At PEFCU, we are committed to education and excited to partner with Sallie Mae and Student Loan Funding on a streamlined federal student loan process that provides significant benefits to undergraduate students, graduate students and parents
On your loan application, simply select PEFCU as your preferred lender (Lender Code 829257) and enjoy valuable borrower benefits.
As an undergraduate student applying for a Federal Stafford Loan, you will:
- Pay zero origination fees
- Pay zero default fees (when USA Funds is the guarantor)
- Get a 5% loan credit on eligible Sallie Mae-serviced loans after the first 12 payments are made initially as scheduled*
- Choose from flexible repayment options including standard principal and interest payments, repayment based on income and repayment through loan consolidation
As a parent applying for a Federal PLUS Loan, you will:
- Pay zero default fees (when USA Fund is the guarantor)
- Get a 3% loan credit after the first payment is made initially as scheduled*
- Receive a .25 percentage point interest rate reduction when you have payments automatically debited from a checking or savings account**
- Choose from flexible repayment options including delayed repayment, repayment in equal payments of principal and interest, repayment based on monthly income and repayment through loan consolidation
As a graduate student applying for a Federal PLUS Loan, you will:
- Pay zero default fees (when USA Funds is the guarantor)
- Get a 6% loan credit after the first 12 payments are made initially as scheduled*
- Receive a .25 percentage point interest rate reduction when you have payments automatically debited from a checking or savings account**
- Choose from flexible repayment options including standard principal and interest payments, repayment based on income and repayment through loan consolidation
To take advantage of these benefits, be sure to include Lender Code 829257 on your application.
And visit a branch near you to learn about PEFCU's other educational initiatives including being the only full-service financial institution located inside Lafayette Jefferson High School and the Purdue Memorial Union at Purdue University as well as exclusive ATM provider inside Purdue residence halls and around campus.
Loan Products:
|
Federal Stafford Loans Our low-cost Stafford Loan is the most popular education loan for students. Click the button below to learn more from Student Loan Funding Resources. |
Federal Plus Loans Our Parent Loan for Undergraduate Students (PLUS) helps fill the gap between the aid that you receive and the total cost of college. Click the button below to learn more from Student Loan Funding Resources. |
Private Loans Our comprehensive private loan programs provide quick answers and easy access to the funding you need to pay for college. Click the button below to learn more from Student Loan Funding Resources. |
*Borrower must sign up for Manage Your Loans℠ prior to entering payment. Loan credit is based on original principal loan amount (less cancellations, refunds and returns). Terms and conditions apply. Sallie Mae reserves the right to modify, continue or discontinue loan and benefit programs at any time without notice.
**The automatic debit benefit is available during active periods of repayment for as long as the borrower's monthly payment is successfully deducted from the borrower's bank account. To qualify for the 0.25 percentage point interest rate reduction, borrowers must sign up on Manage Your Loans, prior to repayment, to receive account information by e-mail. This interest rate reduction continues during active repayment for as long as the borrower continues to pay as initially scheduled.