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Student Loans

CREDIT U DESERVE FOR STUDENT LOANS

Undergraduate Student Loan

We all know the importance of higher education and earning a college degree. Investment in higher education could yield high returns – for you career, your future, and your overall financial wellness.

And just like most, the path to higher education is not without a student loan. A student loan provides you the peace of mind that your education is paid for while you work toward getting your degree.

Bourns EFCU Undergraduate Private Education Line-of-Credit (Learn More)

  • Variable rates
  • Flexible repayment and in-school deferment options
  • Easy online application and instant credit decision
  • Convenient line of credit structure allows you to get funding for your entire undergraduate career with just one application

   Click here for more information. If you'd like to speak to a representative, please call 877-837-8367.

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The Annual Percentage Rate (APR) for our undergraduate private education line of credit is variable1 and is based on the Prime index2 plus a margin.

The current offered rate3 will be between 5.25% and 5.75% APR.

Your Interest Rate4 is calculated by adding the Index plus a Margin5, subject to a minimum APR (Floor). The Floor rate is in effect any time the Interest Rate is below your assigned Floor rate.

All loans subject to approval and restrictions may apply. We reserve the right to change rates for new applications at any time and without notice.

Credit union membership and a minimum share deposit is required. Contact us for membership details.

  1. The Annual Percentage Rate is subject to increase after consummation. Your interest rate is variable and may be adjusted quarterly on each January 1, April 1, July 1 and October 1 (Adjustment Date) based on the Prime index as published in the Wall Street Journal on the first business day of the month immediately prior to the Adjustment Date (e.g., December, March, June and September). Any increase in the index may increase the APR and the amount of your monthly payment.
  2. The "Index" for the quarter beginning April 1st, 2019, is 5.50%, which was the Prime index published in the Wall Street Journal on the first business day of March 2019.

  3. Current offered rate(s) are calculated by using the Index, Margin and Floor value(s) in effect. Your specific Interest Rate, Margin, Floor, and/or credit approval depends upon the credit qualifications of the student borrower and co-borrower (if applicable). Student borrowers may apply with a creditworthy co-borrower which may result in a better chance of approval and/or lower interest rate.

  4. The APR will not exceed 18%, or fall below the Floor rate regardless of the Index. Any increase in the Index may increase the APR and the amount of your monthly payment. 

  5. Margin will be disclosed at account opening. 

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