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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
Student Loan Refinancing Program

Student Loan Program

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.

Download the Brochure

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 https://partner.lendkey.com/southbridgecu/student
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.

Apply Now
*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. For more information on federal loans, visit http://www.fafsa.ed.gov.

Student Loan Refinancing Program

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
Download the Brochure

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.

Apply Now

SCU Can Help Fund Your Future

  • Student Loan Program
  • Student Loan Refinancing Program

Consumer Loans to Fit Your Needs

  • Personal Loans
  • Auto Loans
  • Motorcycle Loans
  • Pool & Spa Loans
  • Recreational Vehicle Loans
  • Power Sports Loans
  • Mobile Home Loans with Co-op Share
  • Home Improvement Loans
  • Mass Save HEAT Loan Program
Become a Member
Questions? Call Us at
888-599-2265

“When you are part of Southbridge Credit Union, you have access to world class benefits – low rates, exceptional service (I cannot stress this enough) and the products and services you deserve as a member. Here, you can expect access to your money the way you want and when you want it. So whether it’s online, on your mobile device, in person, or at an ATM, they have what you need. After being a member for over 40 years, I still feel the personalization of a small bank to where it has grown to today.”

Robert L. PoirierSCU Member

“When I needed a personal loan to help consolidate some of my previous debt, I went to the Southbridge Credit Union branch located at Bay Path. Jessica Joseph talked with me about my needs and options. Instantly, she got to work processing my information to receive the loan. During the process, a problem became evident. Due to the tight-knit and local nature of the bank, she was able to get an answer from a higher-up within a couple of hours. It feels good knowing that if a problem ever comes up with my accounts or loans, they are all right here in the community to take care of my needs.”

Matthew FallSCU Member

“Angie was very helpful and professional when I applied for a first mortgage and later, for a home equity loan. I had a great experience on both occasions, and she was very efficient processing all the associated paperwork. I would highly recommend her to anyone looking for a friendly helpful professional to assist with any lending needs.”

Bob CournoyerSCU Member

“We have worked with Paula at Southbridge Credit Union a few times for refinancing, home equity lines and mortgages, and she has always been great to work with. She is organized, professional and kind. We have had nothing but wonderful service at Southbridge Credit Union, not only from Paula but all other employees we have worked with there. We have found that Southbridge Credit Union has always had the best interest rates around, and they make the process of mortgages and home equity understandable! We have since transferred all of our banking there. Thank you, Southbridge Credit Union for always being so great to work with!”

Lori & Jason CzechSCU Members

“What a great experience we had working with Paula on our construction loan! It was very easy for us using today’s technology with the application, sending in the design, plot plans, etc. With my wife working in Boston and for myself being on the road as a Project Manager, Paula’s help guiding us through this on line was the key. All the legal documents were sent secure, which made us feel safe with such private information. The process of payment dispersal directly into our checking account after inspections kept this project moving along and gave me the control I needed with the contractors. SCU was a great partner to work with helping us complete our dream home!”

Glenn & Karen GregoireSCU Members

“I have been a customer of Southbridge Credit Union for the past seven years. After shopping for a mortgage online (Quicken, Lending Tree, etc.) I then looked at local lending institutions. What I discovered was SCU had the lowest rates of all. In addition to my mortgage, I now have a home equity line of credit and two auto loans. SCU’s rates are competitive and the bank personnel are always pleasant and willing to help to meet the needs of the customer. The customer service is second to none at SCU and I will continue to do business with them in the future.”

Chris HavenSCU Member

Southbridge Credit Union

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205 Main Street
Southbridge, MA 01550
888-599-2265
info@sbgecu.org
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