STUDENT LOANS
On this page: Undergraduate & Graduate Student Loans | Parent Loans | Refinance | Returning Borrowers | 5 Ways To Afford College | College Planning Resources | FAQs
Stress Less About Paying for College
Making smart financial decisions when it comes to paying for higher education is more important than ever. That’s why we offer Education Loans developed specifically to help pay for college when scholarships, grants, and federal aid just aren’t enough to cover the full cost of attendance.
Your Dreams. Our Affordable Financing Options.
We take great pride in our collaboration with Colleging to provide financing options for students to fulfill their higher education goals. Providing our members with the essential opportunities and financial resources necessary for their success is at the heart of our mission.
In-School Undergraduate & Graduate Student Loans
College is expensive and paying for it can be stressful. Our in-school loan helps undergraduates and graduates pay the full cost of attendance and living expenses. Get a credit decision in minutes.
Repayment terms of 5, 10, and 15 years
Borrow from $3,000 up to the cost of attendance as certified by your school
.25% discount for automated payment deduction
Cosigner release after 36 on-time payments
Complete your entire application in minutes on your phone, tablet, or laptop or start on one device and finish on another.
Parent Loans
Help with the cost of your college student’s tuition while they focus on their studies. Our Parent Loan helps pay the full cost of higher education attendance and living expenses. Get a credit decision in minutes.
Repayment terms of 5, 10 & 15 Years
Borrow from $3,000 to $150,000
.25% discount for automated payment deduction
Complete your entire application in minutes on your phone, tablet or laptop
Student Loan Refinance
Our Student Refinance Loan option gives you the freedom and flexibility you need to reach your goals after you leave school. Whether you want to reduce your payment, lower your interest rate, or combine all your loans to make life a little simpler, refinancing your Student Loan is an easy solution.
Repayment terms of 5, 10, and 15 years
Borrow from $10,000 to $250,000
.25% discount for automated payment deduction
Cosigner release after 36 on-time payments
Complete your entire application in minutes on your phone, tablet, or laptop or start on one device and finish on another.
Returning Borrowers
If you’re a returning borrower, click the button below to easily access your account.
Education Loan Rates and Terms
To view the current rates and terms for each of our Student and Parent Education Loans, click here.
Map Your Journey to Success
Navigating the realm of student aid may seem complex, but it doesn't need to be. Our user-friendly resources, created by students for students, are designed to guide you through every step of the process. Having a clear roadmap can significantly ease the journey into adulthood. Explore our website for a comprehensive range of information covering topics such as:
Planning for College
Saving for College
Paying for College
Life in College
Adulting 101
FAQs
Got questions? We’ve got answers.
We know student loans can feel complicated but we’re here to make it simple. Whether you’re heading off to college, helping your child, or refinancing existing loans, these FAQs cover the questions we hear most often from our members.
What’s the difference between a private education loan and a federal student loan?
Federal student loans are backed by the government, usually have fixed rates, and may offer income-driven repayment or forgiveness. Our education loans are private loans funded by 1st University Credit Union and can fill the gap when federal aid isn’t enough. You can choose fixed or variable rates, select repayment terms (5, 10, or 15 years), and enjoy a 0.25% interest rate discount with autopay.
When does repayment begin?
You have options:
Immediate Repayment Plan: Start principal + interest payments 25–60 days after the first disbursement.
Interest-Only Plan: Pay interest only while you’re enrolled at least half-time (up to 60 months).
Deferred Plan (Undergrad/Grad Loans Only): Postpone principal and interest payments until after you leave school (up to 60 months).
This flexibility means you can pick the plan that best fits your budget now.
Do I need a cosigner?
Maybe. It depends on your credit.
FICO 680+ borrowers can usually qualify without a cosigner.
Borrowers with little/no credit history or a FICO between 620–679 will need a cosigner who meets credit and income requirements.
And yes, cosigner release is available after 36 consecutive on-time payments if you meet current credit requirements.
How can I use the funds?
Your loan can be used for any cost of attendance certified by your school — tuition, fees, books, housing, meals, transportation, even a laptop — as long as your total borrowing stays within your school’s cost of attendance minus other aid.
Can I pay off my loan early without a penalty?
Absolutely. There are no prepayment penalties or fees — you can make extra payments, pay more than the minimum, or pay the loan off early to save on interest
Federal Student Loans
Free Application For Federal Student Aid
We highly recommend students apply for and utilize all federal student aid programs through the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov prior to applying for any private student loan. 1st University Credit Union’s student loan program is offered through a partnership with Colleging and is not a federal student loan program. Unless you are a current account holder, you must agree to open an account at 1st University Credit Union before any loan proceeds are sent to your school.
📢 Stay Informed on Federal Student Loan Updates
Q: How can I stay informed about the latest federal student loan changes for 2025?
A: The U.S. Department of Education posts official updates at
StudentAid.gov/bigupdates.
Check regularly for changes to repayment plans, forgiveness programs, interest rates, and deadlines.
Q: Why is it important to follow these updates?
A: New rules may impact your monthly payments, interest rates, or forgiveness eligibility. Staying informed helps you take advantage of benefits and avoid surprises.
Q: Where else can I find reliable information?
A: Sign up for alerts from your loan servicer, follow the U.S. Department of Education on social media, or subscribe to trusted financial aid newsletters.
Avoid third-party “fix-your-loans” offers that charge unnecessary fees.
College is a big step — financing it shouldn’t be a huge leap. At 1st University Credit Union, we offer undergraduate and graduate student loans, parent loans, and refinancing options with competitive rates, flexible repayment terms, and personal guidance every step of the way. We’re proud to support students and families attending Baylor University, McLennan Community College, and the University of Mary Hardin-Baylor, as well as others throughout the region. Based in Waco, we proudly serve the Central Texas community, including McLennan, Erath, and Bosque counties.
Helping You Do Life — one degree at a time.