Private Student Loans

¹Terms and conditions apply. Your initial rate will be determined after a review of your application and credit profile. You must be either a U.S. citizen or Permanent Resident in an eligible state and from an eligible school (enrolled on at least a half-time basis), and meet Garden Savings Federal Credit Union's credit and income requirements to qualify for a loan. Additionally, in order to receive a loan from Garden Savings Federal Credit Union, you must be a member of Garden Savings Federal Credit Union. If you are not a member of Garden Savings Federal Credit Union, you may apply and become a member during the loan application process. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate. All private student loans from Garden Savings Federal Credit Union must be certified by the applicant’s school, and Garden Savings Federal Credit Union reserves the right to reduce the loan amount or withhold funding based on the school certification or in the event the school does not certify the loan, respectively.

²Cosigner release is subject to lender approval. In order to qualify, the borrower, alone, must meet the following requirements: (1) make the required number of consecutive, on-time full principal and interest payments as indicated in the borrower's credit agreement during the repayment period (excluding interest-only payments) immediately prior to the request. Any period of forbearance will reset the repayment clock; (2) The account cannot be in delinquent status; (3) The borrower must provide proof of income indicating that he/she meets the income requirements and pass a credit review demonstrating that he/she has a satisfactory credit history and the ability to assume full responsibility of loan repayment; (4) No bankruptcies or foreclosures in the last sixty months; and (5) No loan defaults.

³If you enroll in automatic monthly payments from a personal checking or savings account to pay principal and interest amounts that are due, the Margin will be reduced by 0.25%. This rate reduction will be removed, and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is cancelled, any increase will take the form of higher payments.