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Important Changes to Student Lending

1st University Credit Union will no longer be originating student loans for the purpose of education. With the recently enacted Health Care and Education Affordability Reconciliation Act of 2010 (HR 4872), the Federal Family Education Loan (FFEL) Program has been eliminated. Private lenders, such as 1st University Credit Union, no longer have a role in originating or funding federal Stafford, PLUS or Consolidation loans.

Beginning July 1, 2010 all federal student loans are issued through the Direct Loan Program, which is operated by the U.S. Government. Visit www.studentloans.gov or contact your school’s financial aid office for more information.

If you currently have student loans with 1st University Credit Union, you will continue to make regular payments for the life of the loan. For questions related to existing Educational Loans secured through the Credit Union, contact our Student Loan Servicing Agent at Panhandle-Plains, 806-324-4100, or at www.ppslc.com.  
Additional Resources:

College Planning Tools for Students and Parents

Student Guide to Federal Student Aid

Student Gateway to the U.S. Government

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