Student Loans

Have a career in mind and notice most jobs require some kind of college education? Are you asking yourself how will you pay for that college degree? Or, do you need help to refinance an existing college student loan? Don’t worry, we’ve got you with our affordable student loan and student loan refinancing programs. Check out our options!

Student Loan Program

Southbridge Credit Union can now help fund your future!

College is a BIG investment. But don’t worry, we’re here to help you right through graduation. We’ve partnered with LendKey to bring you a great new student loan program. It’s easy to apply and get a quick approval!

Our low cost student loan is designed to meet your education needs.*

  • Competitive interest rates and with good grades, potential for even lower rates
  • .25% interest rate reduction when you sign up for automatic payments
  • No origination fee for all student borrowers

It can be used to pay for qualified education expenses including:

  • Tuition
  • Room and Board
  • Books and Computers

Although we ask that you do make a modest monthly payment while in school, full interest and principal payments are deferred until 6 months after graduation.

Borrow as little as $2,000 or up to Cost of Attendance per academic year for a maximum of $120,000 in undergraduate school loans or $160,000 in graduate school loans.

Student Loan Q&A

Q: Am I Eligible?
A: Borrower must meet the following requirements:

  • US citizen or permanent resident
  • Enrolled at least half-time in an eligible school
  • Meet minimum credit requirements

Q: What are the benefits of a cosigner?
A: Applying with a creditworthy cosigner not only increases your chance of approval, but also may lead to a lower loan rate.

Q: What are some tips to keep in mind?
A: Remember to:

  • Exhaust all federal loans
  • Get started early
  • Only request the amount you need for the current academic period

Get Started

STEP 1: Click the ‘Apply Now’ button below or go to
STEP 2: Complete the loan application
STEP 3: Send in supporting documents
STEP 4: Get quick approval

To apply, click the button below or call 888-549-9050.

*Private student loans should be used as supplemental funding after exhausting all other sources of financial aid including grants, scholarships, and federal student loans. Federal loans offer more attractive terms when compared to most other borrowing options, including private student loans.
Student Loan Refinancing Program

SCU is here to help you succeed after college with student loan refinancing.

Refinancing student loan debt can lower your monthly payments, reduce your interest rate, and extend the payment period on your loans.

  • Cosigner release available for creditworthy borrowers after 12 on-time principal and interest payments
  • Interest-only repayment option up to 4 years followed by standard repayment
  • 0.25% interest rate reduction when you sign up for automatic repayments
  • No origination fee for all student borrowers

Student Loan Refinancing Q&A

Q: What is student loan consolidation?
A: Student loan consolidation allows borrowers the ability to consolidate and refinance one or multiple loans into one loan at a potentially lower interest rate.

Q: Am I eligible?
A: Borrower must meet the following requirements:

  • US citizen or permanent resident
  • Graduated from an eligible school
  • Meet minimum credit requirements

Q: How much can I borrow?
A: Up to $125,000 in undergraduate student loan debt and up to $175,000 in graduate student loan debt.

Q: What is the difference between consolidating and refinancing?
A: Consolidating is combining multiple loans into a single loan and monthly payment while “refinancing” is reducing the interest rate of an existing loan.

Q: What documentation is required?
A: After you are conditionally approved based on credit, you (and your cosigner) may be asked to submit the following documents:

  • Proof of Identity
  • Proof of Graduation
  • Proof of Income
  • Payoff Information

Q: What is a cosigner?
A: A cosigner is a parent, grandparent, guardian or other adult who is creditworthy and willing to assume legal responsibility for the loan liabilities along with you. The cosigner must be a US Citizen or Permanent Resident.

Q: Is a cosigner required to obtain student loan refinancing?
A: In some instances, a cosigner is required. A creditworthy cosigner increases the likelihood of your loan approval and may lead to a lower loan rate. Creditworthy borrowers that meet the credit requirements may apply without a cosigner.

Apply today and start saving. Click the button below or call 888-549-9050.

All deposits are insured at SCU. We are insured by the NCUA (National Credit Union Administration) for $250,000 on deposits and anything over that, we are insured by the MSIC (MA Credit Union Share Insurance Corporation).
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