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EECU
offers a variety of services to assist students and parents
with financing higher education.
- Federal
Stafford Loans
- Federal
PLUS Loans
- Alternative
Cash Loans
- Informative
Web Sites
- Free
Financial Aid Seminars
- Q
& A
- Guaranteed
Federal Student Loan
- Student
is the borrower (co-signer not allowed)
- Must
be attending at least half-time
- Variable
interest rates
- Awarded
amounts determined by the government
- No
payment required until 6 months after graduation or
if the student falls below half-time attendance; 10-year
repayment with $50 minimum monthly payment
- Apply
by completing the Free Application for Federal Student
Aid (FAFSA) at www.fafsa.ed.gov
- Income
not necessarily a factor in determining the loan amount
awarded or the awarding of certain grants and scholarships
- Most
free monies are first come, first served so apply
early. First possible date to apply is January 1st;
recommended apply by March 1st
- Contact
EECU's Student Loan Department for more detailed information.
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- Guaranteed
Federal Student Loan
- One
parent is the borrower (co-signer not allowed)
- Student
must be dependent and attending school at least half-time
- Variable
interest rates determined by the government
- If
the parent qualifies, he/she may borrow up to total
"cost of attendance" less anything the student
has been awarded
- Payments
begin after full disbursement of the loan; 10-year
repayment with $50 minimum monthly payment
- Apply
by completing a PLUS application/promissory note available
at any EECU branch or through the school's financial
aid office
- Contact
EECU's Student Loan Department for more detailed information
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- Private loan; not government based
- Student is borrower; co-signer required if student has less
than 2 years credit history
- Student must be attending classes at least half-time
- No payment required until six months after graduation or when
the student falls below half-time attendance Categories available:
1. EDCASH - undergraduate students
2. GRADCASH - graduate students
3. LAWCASH - law students
4. MEDCASH - medical students
5. BARCASH - graduated students studying for
bar exam
6. MEDCASH+ - graduated students in residency
program
- Apply by picking up an application at any EECU branch, or
online at www.mohela.com
- Interest rate is variable and adjusts quarterly
- For more information, contact EECU's Student Loan Department
www.fafsa.ed.gov
(FAFSA on the web)
www.finaid.org
(financial aid information)
www.mostars.com
(Mostars web site)
www.petersons.com
(education and career information)
www.fastWEB.com
(scholarship search)
mapping-your-future.org
(college career and financial aid information)
www.scholarships.com
(scholarship search)
www.pin.ed.gov
(to receive/check on PIN)
www.usafunds.wiredscholar.com
(education and career information)
www.salary.com
(list of salaries per occupation)
www.monster.com
(student information)
www.scholaraid.com
(student information)
Each year, EECU hosts free financial aid seminars for high school
students and their parents. The focus of these seminars is to
inform students about the steps to take to apply for financial
aid and how the entire process works. Watch EECU publications
and our web site for details about upcoming seminar dates.
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