Why Get a Student Loan From Michigan First Credit Union?
You’d be well advised to take out a private student loan if you’re wondering how to cover the expensive costs of your education.
What Student Loans Does Michigan First Credit Union Offer?
There are two options for loans here if you’re a student or graduate looking for financial assistance, which are as follows:
- Take out an undergraduate line of credit to cover your upcoming tuition fees
- Refinance a current student loan that you're paying off
Student Loan Refinancing Information
If you’ve realized that your monthly payments for your student loan could be lower, financing is a great option.
- Variable rates that begin at 4.24%
- Fixed rates from 6.49%
- Terms that last up to 15 years
- No origination fees
Fixed Rates From | 6.49% |
Variable Rates From | 4.24% |
Loan Repayment Terms | Either five, 10, or 15 |
Loan Amount | Not stated |
Private Student Loans
The only option for a private loan offered here is to be used by undergraduates. The details aren't entirely clear, as they will differ depending on how much is borrowed and the term length, which can be up to 15 years. It’s clear that your APR will never go above 18.00%.
More About the Rates and Fees of Michigan First Credit Union’s Loan Options
Here are the costs of one of these undergraduate loans.
Fixed Rates From | Not available |
Variable Rates From | 6.25% to 7.25% |
Application Fee | None |
Origination fee | None |
Disbursement fee | None |
Late fee | Not stated |
Returned payment fee | Not stated |
Prepayment penalty | None |