Why Get a Student Loan from HawaiiUSA Federal Credit Union?
This organization only offers one type of student loan, in stark contrast to many industry competitors. For graduates, medical students, or parents seeking to fund their student loans, it’s best to look elsewhere.
However, there are a couple of fairly decent features of this loan, such as the $75,000 maximum loan amount. It won’t cover all courses of study, but it’ll probably be enough to cover many, depending on your tuition/board/expense requirements.
What Student Loans does HawaiiUSA Federal Credit Union offer?
The Undergraduate Line of Credit Loan
This is the only option available with this company. Here’s a list of features to consider when deciding whether or not to make a loan application:
- Suitable for applicants who’ve been unable to find funding from avenues like grants, scholarships, etc.
- If you don’t know which college you’ll attend, or how much money you’ll require - you can still apply, and finalize the loan once your course of choice is finalized.
- There are several repayment options, depending on what you prefer, or can afford to pay.
- It’s possible in many cases to borrow up to the full remainder of the cost of your education.
- You don’t need a co-signer to apply, but having one with a strong credit rating will not only increase the likelihood of being accepted but may also significantly decrease your APR.
$1,000 - $75,000
20 years for $40,000 and below, 25 years for any amount higher than $40,000
6% - 15%
Automatic debit APR reduction
Applicants must be:
- An undergraduate student
- A US citizen/permanent resident
- Making ‘satisfactory’ academic progress
- Enrolled at least half time, except in the summer semester
- Attending one of the 1794 approved schools
- Eligible for Credit Union membership (see below for more)
To be eligible, applicants must meet one of the following criteria:
- Involved in education in a Maui or Oahu school up the 12th-grade level, either as an employee, student, student’s parent, or retired worker.
- Aligned with one of almost 5,000 specified ‘Select Employee Groups’
- An immediate family member is already a Union member
It’s possible to begin full payments immediately, to pay interest-only during your education, or to defer payments completely until after graduation.