Affinity Plus Federal Credit Union Review 2020: An Option to Fund Your Education

Are you considering continuing your education, but struggling to finance the course of study? If you’re unable to access a grant, scholarship, or federal loan, then a private student loan might be a good option. Affinity Plus provides a few choices in this regard that might be worth considering for students in Minnesota colleges and universities.

Affinity Plus Federal Credit Union
Student loans for technology Best for
3 /5
$ 1,000 /mo
Starting Price
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Table of Contents

    Why Get a Student Loan from Affinity Plus?

    A student loan is often worth the expense in the long term, because your career prospects could greatly increase upon completing a qualification. Affinity Plus has a couple of positive features that stand out, like its repayment terms of up to 25 years in some cases. Another good example is the opportunity to reduce the technology loan APRs, for students achieving good grades in school.

    What Student Loans does Affinity Plus offer?

    There are four types of student loans available. 

    • All loans have no origination fees or administration fees
    • All applicants must also join the Union when applying for a loan
    • A co-signer may be required in some circumstances to meet the credit requirements (unspecified)

    Undergraduate Line of Credit

    Loan amounts

    $1,000 to $75,000


    Starting from 3.85%


    20-25 years

    Automated debit payment APR reduction


    Graduate Business Line of Credit

    Loan amounts

    $1,000 to $100,000


    Starting from 4.85%


    20-25 years

    Automated debit payment APR reduction


    Technology Loan

    Loan amounts

    Up to $3,000 - depending on expenses


    Starting from 10.65%


    Up to 36 months

    APR Reduction

    It can be reduced by up to 2% annually by maintaining a “B” grade point average

    Student Loan Refinancing with Affinity Plus

    Federal, private and institutional loans can all be refinanced.

    Loan amounts

    $5,000 - $100,000


    5, 10, 15 years

    Fixed-Rate APRs

    5 years - From 4.24%

    10 years - From 5.24%

    15 years - From 5.99%

    Variable APRs

    5 years - From 1.62%

    10 years - From 2.87%

    15 years - From 3.12%

    Automated debit payment APR reduction


    Repayment Options

    • Immediate Payment - Begin full payments upon the start of the enrolment period
    • Interest Only Payment - Pay only the interest accrued whilst enrolled
    • Deferment - Pay nothing until post-graduation

    Who is Eligible?

    Applicants must meet the following criteria (where applicable)

    • US citizens /permanent residents
    • A current or past student of any Minnesota college or university
    • Making satisfactory academic progress
    • Enrolled at least half time
    • A member/graduate of one of the listed schools (see website for full details)
    • An approved credit rating (unspecified)
    • A member of the Union/able to join

    Who can join the Union?

    • Students/graduates of any Minnesota college or university
    • Those living/working/worshipping in a select number of cities in Minnesota (see website for full details)
    • Those living with/related to a current member of Affinity Plus

    Pros and Cons


    • Technology loan is a rare offering
    • Extensive loan terms


    • Unclear about the credit rating required


    Affinity Plus has some good options, like the technology loan, but it’s unclear about the credit rating required, and its maximum loan amounts aren’t particularly high. Consider CommonBond instead. It’s a more well-rounded service, and even provides refinancing loans of up to $500,000.