USF Federal Credit Union Review 2020: Cover your Academic Financial Needs

This Credit Union has been providing loans since 1958 and currently has over 60,000 members. For eligible students in Florida schools, there are a couple of choices with regard to student loans. By seeking this financial help, you could remove any worries about whether or not higher education is affordable, and concentrate on your education.

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    Why Get a Student Loan from USF Federal Credit Union?

    Loans from this service could help you access higher education, providing the tools necessary for a successful career in your chosen field of study.

    There are loans available to cover the entirety of your study period and APRs between 4% and 7% for undergraduates. In addition, there are several flexible repayment methods and no application fees whatsoever. For some, it could be an academic avenue well worth exploring.

    What Student Loans does USF Federal Credit Union offer?

    There are two main options for students to consider.

    Private Student Loans

    These loans are available to both undergraduates and postgraduates of eligible schools.

    Current APRs 

    4% to 7%

    Loan amounts 

    Determined in part by what individual schools certify as necessary


    Not explicitly stated

    Late payment fees 

    Assessed individually

    Prepayment fees


    Loan amounts will be sent directly to the school for tuition, fees, and accommodation. In addition, automatic debit payments can be set up if you wish.

    Disappointingly, this service provides scant information on some critical details, so it’s difficult to make a clear judgment on the loan without contacting the provider directly.

    Lines of Credit

    This loan is ideal even if you’ve not decided which college you’ll attend, or exactly how much financial assistance you’ll need. Once again, the terms available are unfortunately not listed.

    It can be used for expenses other than tuition, for example:

    • Textbooks 
    • Computer equipment
    • Overseas study programs
    • To cover tuition shortfalls that may occur


    4% to 7%

    Auto-pay interest reduction


    Amounts available

    A minimum of $1,000, going up to $75,000 for undergraduates, and $100,000 for postgraduates

    Repayment Options 

    The following applies to the traditional student loan, as well as the line of credit:

    • Interest-only payments during the school period
    • Defer principal and interest payments for six months after graduating - Interest will still accrue from the start of the loan, so this will be the most expensive option in the long run
    • Pay full amounts from the beginning of the loan - For those who can afford it, this option will cost the least in interest payments overall

    Who is eligible to apply?

    • US citizens and permanent residents
    • Meeting the required academic standards of the school
    • Enrolled half-time or more
    • An approved credit score (or co-signer) 
    • A member of an approved school (see the website for full details)
    • Eligible for union membership

    Who can become a member?

    • USF staff and students on all USF campuses
    • USF alumni
    • Anyone associated with a USF partner business

    These are the prominent methods of eligibility, but for an exhaustive list, visit the website.

    Pros and Cons


    • Supports overseas study
    • No prepayment fees
    • Auto-pay fee reductions


    • Extremely limited eligibility
    • Scarce details on many critical aspects


    This service doesn’t provide some critical information, and membership eligibility is exceptionally limited. Thankfully, there are some fantastic alternatives. Sallie Mae offers a vast array of student loans, with the rates/terms explained clearly and in full detail. SoFi is another superb choice, which even offers financial coaching and planning guidance to its customers.