{"id":1005,"date":"2022-09-12T14:47:47","date_gmt":"2022-09-12T20:47:47","guid":{"rendered":"https:\/\/www.iccu.com\/?page_id=1005"},"modified":"2026-01-29T15:49:29","modified_gmt":"2026-01-29T22:49:29","slug":"student-loans","status":"publish","type":"page","link":"https:\/\/www.iccu.com\/loans\/student-loans\/","title":{"rendered":"Student Loans"},"content":{"rendered":"\n<div class=\"wp-block-group alignfull has-background\" id=\"info\" style=\"background:linear-gradient(135deg,rgb(28,137,0) 0%,rgb(13,65,0) 100%)\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<h2 class=\"wp-block-heading alignwide has-text-align-left has-white-color has-text-color\" id=\"h-private-student-loan-psl-amp-student-loan-refinance-slr\">Private Student Loan (PSL) &amp; Student Loan Refinance (SLR)<\/h2>\n\n\n\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"\/wp-content\/uploads\/2023\/07\/student-sitting-hero.webp\" alt=\"\" style=\"aspect-ratio:1;object-fit:cover\"\/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:65%\">\n<p class=\"is-style-wide has-white-color has-text-color has-link-color wp-elements-3d80b1a9ce317a160285f6851884edf6\">At ICCU, we believe in empowering students to achieve their educational dreams. Our cutting-edge student loan marketplace is designed to help you find the best student loan in a matter of minutes, not months.<\/p>\n\n\n\n<p class=\"has-white-color has-text-color has-link-color has-lg-font-size wp-elements-5ed98b1982a062cc413a9ada839469be\">Discover the benefits of our student loan marketplace:<\/p>\n\n\n\n<ul class=\"wp-block-list has-white-color has-text-color has-link-color has-xs-font-size wp-elements-2b84e424345c79233136156ae4fdfa80\">\n<li class=\"has-lg-font-size\">Search for in-school and refinance loans that suit your unique situation<\/li>\n\n\n\n<li class=\"has-lg-font-size\">Explore competitive fixed and variable interest rates for ultimate personalization<\/li>\n\n\n\n<li class=\"has-lg-font-size\">Enjoy flexible repayment terms and options that fit your budget<\/li>\n\n\n\n<li class=\"has-lg-font-size\">Say goodbye to origination fees and prepayment penalties<\/li>\n<\/ul>\n\n\n\n<p class=\"is-style-default has-white-color has-text-color has-link-color has-lg-font-size wp-elements-569b8a34a472a1a92b7641a166b86ab9\">Ready to take the next step toward your education goals?<\/p>\n\n\n\n<button id=\"block_f6523db5d2e69f9eca128b88e3aa2a4f\" class=\"js-button is-style-inverted\" onclick=oao.open('%\/student','CNS-STUD')>Explore Student Loans<\/button>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group alignfull\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading has-text-align-left\" id=\"h-who-can-benefit-from-these-student-loans\"><i class=\"fa-solid fa-graduation-cap\" aria-hidden=\"true\"><\/i> Who can benefit from these student loans?<\/h3>\n\n\n\n<p class=\"has-text-align-left\">We&#8217;re here to support students at every stage of their educational journey. Whether you&#8217;re a high school senior planning for college, an undergraduate student pursuing your degree, a graduate student advancing your education, or even a borrower seeking to refinance for better terms, we&#8217;ve got you covered. These student loans are available to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Parents<\/li>\n\n\n\n<li>Undergraduate students<\/li>\n\n\n\n<li>Graduate and professional students (MBA, Law, MD, JD, etc.)<\/li>\n\n\n\n<li>Borrowers looking to refinance their existing student loans<\/li>\n<\/ul>\n\n\n\n<div style=\"height:1px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-what-can-you-use-these-student-loans-for\"><i class=\"fa-solid fa-graduation-cap\" aria-hidden=\"true\"><\/i> What can you use these student loans for?<\/h3>\n\n\n\n<p>These student loans are specifically designed to cover all your education-related expenses. From tuition fees and room and board to textbooks, supplies, transportation, and other essential costs, these loans have got you covered. Don&#8217;t let financial barriers hold you back from achieving your dreams.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-group has-background\" style=\"background:linear-gradient(135deg,rgb(18,85,2) 0%,rgb(28,137,0) 100%)\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<h2 class=\"wp-block-heading has-text-align-center is-style-default has-white-color has-text-color has-link-color wp-elements-3878a775fef5a82fff04a9800972d48b\" id=\"h-ready-to-find-out-your-personalized-rates\">Ready to find out your personalized rates?<\/h2>\n\n\n\n<p class=\"has-text-align-center has-white-color has-text-color has-link-color wp-elements-8e8ba5206f760a4b88bc0110ad046d5d\">Discovering your pre-qualified rates has never been easier. Simply click the button below and let our student loan marketplace guide you through the process.<\/p>\n\n\n\n<div id=\"block_657e0b043e5b2ec70735461f11ee07ee\" class=\"js-button-group is-vertical justify-center \">\n  \n\n<button id=\"block_2a4b02478b714208e8afc463296b4a46\" class=\"js-button is-style-inverted\" onclick=oao.open('%\/student','CNS-STUD')>Find The Right Loan<\/button>\n\n\n\n<\/div>\n\n\n\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n<section id=\"block_c04fb36aadf5d20affb5c493a2c777de\" class=\"o-simple-faq  is-layout-flex wp-block-columns alignwide\">\n    <div class=\"o-simple-faq__inner\">\n        <h2 class=\"has-text-align-left\">FAQs<\/h2>\n                <div class=\"o-simple-faq__question\">\n            <p class=\"o-simple-faq__heading\">What types of student loans are there? <span class=\"o-simple-faq__icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\"><path d=\"M12 2c5.514 0 10 4.486 10 10s-4.486 10-10 10-10-4.486-10-10 4.486-10 10-10zm0-2c-6.627 0-12 5.373-12 12s5.373 12 12 12 12-5.373 12-12-5.373-12-12-12zm6 13h-5v5h-2v-5h-5v-2h5v-5h2v5h5v2z\"\/><\/svg><\/span><\/p>\n            <p class=\"o-simple-faq__description\">There are several types of student loans:<br><br>\r\n\r\n<ul class=\"o-simple-faq__description\">\r\n<li><strong>Federal student loans<\/strong> are offered by the U.S. Department of Education and have interest rates set by Congress. These loans also provide benefits and protections that private student loans don\u2019t offer, such as access to federal deferment and forbearance options, income-driven repayment programs, and student loan forgiveness programs.<\/li>\r\n<li><strong>Undergraduate student loans<\/strong> include both federal and private student loans that are used to pay for your undergraduate studies.<\/li>\r\n<li><strong>Parent PLUS Loans<\/strong> are available to parents who want to help their child pay for school. Unlike other federal student loans, PLUS loans require a credit check, and you might not qualify if you have an adverse credit history, such as a default, delinquent account, or repossession. Keep in mind that some private lenders offer parent student loans, too \u2014 though these don\u2019t come with the federal protections that PLUS Loans offer.<\/li>\r\n<li><strong>Graduate student loans<\/strong> can be used to help you pay for grad school. Direct Unsubsidized Loans and Grad PLUS Loans are two types of federal student loans that can be used for graduate programs. There are also several private lenders that offer graduate student loans.<\/li>\r\n<li><strong>MBA student loans<\/strong> can help you finance a business degree. While you might be able to use a general graduate student loan to pay for these costs, there are also private lenders that offer specialized MBA loans.<\/li>\r\n<li><strong>Law school student loans<\/strong> can be used to pay for a law degree. You can take out general graduate student loans for this, or borrow specialized law school loans from certain private lenders.<\/li>\r\n<li><strong>Medical school student loans<\/strong> can help you cover expenses while attending med school. Some medical school loans also sometimes let you defer payments until after residency.<\/li>\r\n<\/ul><\/p>\n        <\/div>\n                <div class=\"o-simple-faq__question\">\n            <p class=\"o-simple-faq__heading\">How does the ICCU marketplace work? <span class=\"o-simple-faq__icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\"><path d=\"M12 2c5.514 0 10 4.486 10 10s-4.486 10-10 10-10-4.486-10-10 4.486-10 10-10zm0-2c-6.627 0-12 5.373-12 12s5.373 12 12 12 12-5.373 12-12-5.373-12-12-12zm6 13h-5v5h-2v-5h-5v-2h5v-5h2v5h5v2z\"\/><\/svg><\/span><\/p>\n            <p class=\"o-simple-faq__description\">Tired of seeing rate ranges and not knowing where you fall in the range? The ICCU marketplace allows you to compare real, pre-qualified student loan rates through a single form. Think of it as Expedia or Google Flights of student loans. With our marketplace, you can compare real repayment plans from multiple lenders side-by-side so you know precisely how each loan stacks up when it comes to APR, monthly repayment, total repayment amount, and repayment options.<\/p>\n        <\/div>\n                <div class=\"o-simple-faq__question\">\n            <p class=\"o-simple-faq__heading\">How does student loan interest work? <span class=\"o-simple-faq__icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\"><path d=\"M12 2c5.514 0 10 4.486 10 10s-4.486 10-10 10-10-4.486-10-10 4.486-10 10-10zm0-2c-6.627 0-12 5.373-12 12s5.373 12 12 12 12-5.373 12-12-5.373-12-12-12zm6 13h-5v5h-2v-5h-5v-2h5v-5h2v5h5v2z\"\/><\/svg><\/span><\/p>\n            <p class=\"o-simple-faq__description\">Student loan interest works by adding a percentage of the loan amount to your outstanding balance over time. This interest rate represents the cost of borrowing money. When you make monthly payments, a portion of the payment is allocated towards covering the accrued interest, while the remaining amount goes towards reducing the principal balance (the original loan amount). Choosing a lower interest rate can help you save money over the life of the loan and accelerate the process of paying off your debt.<\/p>\n        <\/div>\n                <div class=\"o-simple-faq__question\">\n            <p class=\"o-simple-faq__heading\">What is a fixed- vs. variable-rate loan? <span class=\"o-simple-faq__icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\"><path d=\"M12 2c5.514 0 10 4.486 10 10s-4.486 10-10 10-10-4.486-10-10 4.486-10 10-10zm0-2c-6.627 0-12 5.373-12 12s5.373 12 12 12 12-5.373 12-12-5.373-12-12-12zm6 13h-5v5h-2v-5h-5v-2h5v-5h2v5h5v2z\"\/><\/svg><\/span><\/p>\n            <p class=\"o-simple-faq__description\">Before you borrow, you\u2019ll need to decide whether you want a fixed- or variable-rate student loan. Here\u2019s the difference between the two:<br><br>\r\n\r\n<ul class=\"o-simple-faq__description\">\r\n<li>A fixed-rate will stay the same over the course of your loan term. This also means your payments won\u2019t ever change.<\/li>\r\n<li>A variable rate can fluctuate and possibly even increase over time. Because of this, your payments might rise or fall.<\/li>\r\n<\/ul><\/p>\n        <\/div>\n                <div class=\"o-simple-faq__question\">\n            <p class=\"o-simple-faq__heading\">What are the drawbacks of private student loans? <span class=\"o-simple-faq__icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\"><path d=\"M12 2c5.514 0 10 4.486 10 10s-4.486 10-10 10-10-4.486-10-10 4.486-10 10-10zm0-2c-6.627 0-12 5.373-12 12s5.373 12 12 12 12-5.373 12-12-5.373-12-12-12zm6 13h-5v5h-2v-5h-5v-2h5v-5h2v5h5v2z\"\/><\/svg><\/span><\/p>\n            <p class=\"o-simple-faq__description\">While private student loans can be a helpful option in some cases, they also come with drawbacks to keep in mind, including:<br><br>\r\n\r\n<ul class=\"o-simple-faq__description\">\r\n<li>No federal benefits: Private student loans don\u2019t come with federal benefits and protections. For example, you won\u2019t be eligible for student loan forgiveness programs or federal deferment and forbearance options.<\/li>\r\n<li>Lack of repayment options: Unlike federal student loans, private student loans don\u2019t provide a variety of repayment options. For example, private student loans typically don\u2019t offer income-driven repayment or graduated repayment plans.<\/li>\r\n<li>Potentially higher interest rates: If you have excellent credit, you might get approved for a lower interest rate on a private student loan compared to a federal loan. However, many college students haven\u2019t yet established enough of a credit history to qualify for these rates \u2014 so unless you have a cosigner, you\u2019ll likely get a higher rate on a private student loan.<\/li>\r\n<\/ul><\/p>\n        <\/div>\n                <div class=\"o-simple-faq__question\">\n            <p class=\"o-simple-faq__heading\">How much money can I borrow with a private student loan? <span class=\"o-simple-faq__icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\"><path d=\"M12 2c5.514 0 10 4.486 10 10s-4.486 10-10 10-10-4.486-10-10 4.486-10 10-10zm0-2c-6.627 0-12 5.373-12 12s5.373 12 12 12 12-5.373 12-12-5.373-12-12-12zm6 13h-5v5h-2v-5h-5v-2h5v-5h2v5h5v2z\"\/><\/svg><\/span><\/p>\n            <p class=\"o-simple-faq__description\">With a private student loan, you\u2019re eligible to borrow up to 100% of what your school says it costs to enroll and attend classes (the \u201ccost of attendance\u201d), minus other financial aid and loans you\u2019ve already received.\r\n<br><br>\r\nHow much you can actually borrow will vary by lender and can include annual or cumulative borrowing limits. Other private lender criteria that can affect how much you can borrow might include your credit history, the credit quality of your cosigner, your school\u2019s certified cost of attendance, the degree you\u2019re earning, and more.<\/p>\n        <\/div>\n                <div class=\"o-simple-faq__question\">\n            <p class=\"o-simple-faq__heading\">How does disbursement work for private student loans? <span class=\"o-simple-faq__icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\"><path d=\"M12 2c5.514 0 10 4.486 10 10s-4.486 10-10 10-10-4.486-10-10 4.486-10 10-10zm0-2c-6.627 0-12 5.373-12 12s5.373 12 12 12 12-5.373 12-12-5.373-12-12-12zm6 13h-5v5h-2v-5h-5v-2h5v-5h2v5h5v2z\"\/><\/svg><\/span><\/p>\n            <p class=\"o-simple-faq__description\">Receiving the funds for your private student loan depends on whether you\u2019re borrowing an in-school loan or refinancing an existing loan. \r\n<br><br>\r\n<strong>For in-school private student loans<\/strong>, the funds are typically sent straight to your school to cover tuition. The school then gives the rest of your loan money directly to you, the student, for other expenses related to getting your degree, such as housing. \r\n<br><br>\r\nYour school sets the disbursement date (when you actually receive the money), which is usually around the beginning of the semester. Regardless of when you applied for the loan, your school\u2019s disbursement date will be the same. However, it\u2019s best to apply early so that you can avoid any unexpected confusion or delays. \r\n<br><br>\r\nWe suggest giving yourself at least 30 days to be safe, but be sure to contact your financial aid office to learn more about accessing your funds. \r\n<br><br>\r\n<strong>For student loan refinancing<\/strong>, no new funds are disbursed. Instead, your new private lender pays off your existing loan(s) and gives you a new loan with new terms. This generally happens within a few days, but always check with your lender(s).<\/p>\n        <\/div>\n                <div class=\"o-simple-faq__question\">\n            <p class=\"o-simple-faq__heading\">When should I apply for a private student loan? <span class=\"o-simple-faq__icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\"><path d=\"M12 2c5.514 0 10 4.486 10 10s-4.486 10-10 10-10-4.486-10-10 4.486-10 10-10zm0-2c-6.627 0-12 5.373-12 12s5.373 12 12 12 12-5.373 12-12-5.373-12-12-12zm6 13h-5v5h-2v-5h-5v-2h5v-5h2v5h5v2z\"\/><\/svg><\/span><\/p>\n            <p class=\"o-simple-faq__description\">You can apply for private student loans at any time since there\u2019s no deadline tied to them (like filling out the FAFSA for federal loans). But it\u2019s still a good idea to apply for private loans as soon as you know you\u2019ll need them to cover education costs.\r\n<br><br>\r\nAlthough it varies depending on the lender and your school, it can sometimes take 3 to 5 weeks for you to receive the funds. So, if you\u2019re trying to decide when to apply for a private student loan, be sure to give yourself some time and apply sooner rather than later.<\/p>\n        <\/div>\n                <div class=\"o-simple-faq__question\">\n            <p class=\"o-simple-faq__heading\">How do I qualify for a student loan? <span class=\"o-simple-faq__icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\"><path d=\"M12 2c5.514 0 10 4.486 10 10s-4.486 10-10 10-10-4.486-10-10 4.486-10 10-10zm0-2c-6.627 0-12 5.373-12 12s5.373 12 12 12 12-5.373 12-12-5.373-12-12-12zm6 13h-5v5h-2v-5h-5v-2h5v-5h2v5h5v2z\"\/><\/svg><\/span><\/p>\n            <p class=\"o-simple-faq__description\">Each lender has different requirements when it comes to qualifying for a private student loan. But\r\ntypically you must:<br><br>\r\n\r\n<ul class=\"o-simple-faq__description\">\r\n<li>Have a qualifying credit score (or a cosigner with one)<\/li>\r\n<li>Have a qualifying income and debt-to-income ratio (DTI) (or a cosigner with one)<\/li>\r\n<li>Be enrolled in an eligible education program<\/li>\r\n<li>Be a U.S. citizen or legal resident with a Social Security number<\/li>\r\n<li>Be at least 18 years old and hold a high school diploma or equivalent (or have a cosigner)<\/li>\r\n<li>Use the loan for education purposes only<\/li><\/ul>\r\n<\/p>\n        <\/div>\n                <div class=\"o-simple-faq__question\">\n            <p class=\"o-simple-faq__heading\">What are private student loans? <span class=\"o-simple-faq__icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\"><path d=\"M12 2c5.514 0 10 4.486 10 10s-4.486 10-10 10-10-4.486-10-10 4.486-10 10-10zm0-2c-6.627 0-12 5.373-12 12s5.373 12 12 12 12-5.373 12-12-5.373-12-12-12zm6 13h-5v5h-2v-5h-5v-2h5v-5h2v5h5v2z\"\/><\/svg><\/span><\/p>\n            <p class=\"o-simple-faq__description\">Private student loans are provided by private lenders \u2014 banks, credit unions, and online lenders. You can use private loans to pay for education costs and living expenses, which your federal education loans might not cover. Interest rates and terms on private student loans can vary, depending on your financial situation, credit history, and the lender you choose.<\/p>\n        <\/div>\n                <div class=\"o-simple-faq__question\">\n            <p class=\"o-simple-faq__heading\">How can you use private student loans? <span class=\"o-simple-faq__icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\"><path d=\"M12 2c5.514 0 10 4.486 10 10s-4.486 10-10 10-10-4.486-10-10 4.486-10 10-10zm0-2c-6.627 0-12 5.373-12 12s5.373 12 12 12 12-5.373 12-12-5.373-12-12-12zm6 13h-5v5h-2v-5h-5v-2h5v-5h2v5h5v2z\"\/><\/svg><\/span><\/p>\n            <p class=\"o-simple-faq__description\">You can use private student loans to pay for education-related costs and living expenses, which your federal school loans might not cover. Some uses include:\r\n<br><br>\r\n<ul class=\"o-simple-faq__description\">\r\n<li>Tuition and fees<\/li>\r\n<li>Room and board<\/li>\r\n<li>Housing utilities<\/li>\r\n<li>Meals and groceries<\/li>\r\n<li>Books<\/li>\r\n<li>Supplies<\/li>\r\n<li>Dependant childcare expenses<\/li>\r\n<\/ul><\/p>\n        <\/div>\n                <div class=\"o-simple-faq__question\">\n            <p class=\"o-simple-faq__heading\">Can I get a private student loan with bad credit or no credit? <span class=\"o-simple-faq__icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\"><path d=\"M12 2c5.514 0 10 4.486 10 10s-4.486 10-10 10-10-4.486-10-10 4.486-10 10-10zm0-2c-6.627 0-12 5.373-12 12s5.373 12 12 12 12-5.373 12-12-5.373-12-12-12zm6 13h-5v5h-2v-5h-5v-2h5v-5h2v5h5v2z\"\/><\/svg><\/span><\/p>\n            <p class=\"o-simple-faq__description\">You can get a student loan with bad credit, but not necessarily on your own. While federal loans don\u2019t require a credit check, private student loans do. Many students don\u2019t qualify for private loans on their own because they don\u2019t have a credit history or they have bad credit. If that\u2019s your situation, you may need to add a cosigner to qualify for a private loan.\r\n<br><br>\r\nPrivate student loans require a credit application that examines income, employment, and a credit report. The lower your credit score, the higher the risk for the lender, which translates into higher interest rates. One way to get approved for a loan with a lower rate can be to add a creditworthy cosigner to your loan application.<\/p>\n        <\/div>\n                <div class=\"o-simple-faq__question\">\n            <p class=\"o-simple-faq__heading\">Do I need a cosigner for a private student loan? <span class=\"o-simple-faq__icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\"><path d=\"M12 2c5.514 0 10 4.486 10 10s-4.486 10-10 10-10-4.486-10-10 4.486-10 10-10zm0-2c-6.627 0-12 5.373-12 12s5.373 12 12 12 12-5.373 12-12-5.373-12-12-12zm6 13h-5v5h-2v-5h-5v-2h5v-5h2v5h5v2z\"\/><\/svg><\/span><\/p>\n            <p class=\"o-simple-faq__description\">It depends, but in most cases, yes. You don\u2019t have to add a cosigner unless you\u2019re under the age of majority in your state (usually between 18 and 21). But if you have a limited or poor credit history, lenders may require you to add a creditworthy cosigner to reduce their risk on the loan.\r\n<br><br>\r\nPlus, more than 90% of private student loans taken out by undergraduate students are cosigned. Even if you\u2019re a graduate student and don\u2019t need one, adding a cosigner with good credit can improve your chances of qualifying for a private student loan at a lower rate.\r\n<br><br>\r\nOur marketplace even makes it easy to compare cosigners to see which cosigner can help get\r\nyou the best rate.<\/p>\n        <\/div>\n          \n    <\/div>\n<\/section>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-text-align-center\">If you have any questions or need further assistance, our dedicated team is here to help. We&#8217;re always ready to support you on<br>your educational journey.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"\/contact\/\">Contact us<\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-group alignfull has-light-gray-background-color has-background\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-text-align-left has-xs-font-size\">Borrow responsibly. We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.<br><br>This student loan marketplace is powered by Sparrow. These loans are made by Sparrow\u2019s lending partners. ICCU is not the creditor for these loans and is compensated by Sparrow for the referral of loan customers.<br><br>Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.<br><br>SPARROW RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. \u00a9 2023 Sparrow Labs Inc. All rights reserved. Sparrow, the Sparrow logo, and other Sparrow names and logos are service marks or registered service marks of Sparrow Labs Inc. All other names and logos used are the trademarks or service marks of their respective owners. Sparrow is not sponsored by or an agency of the United States of America.<\/p>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<style>\r\n.entry-content .wp-block-group p, .entry-content>p {\r\n    padding: 0;\r\n}\r\n\r\nol, ul {\r\n    padding-left: 20px;\r\n}\r\n\r\nli, ul {\r\n    margin: 0 !important;\r\n}\r\n\r\n.entry-content .wp-block-group.has-background {\r\n    padding: 60px 30px !important;\r\n}\r\n<\/style>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Private Student Loan (PSL) &amp; Student Loan Refinance (SLR) At ICCU, we believe in empowering students to achieve their educational [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":4280,"parent":27,"menu_order":6,"comment_status":"closed","ping_status":"closed","template":"product-detail-page.php","meta":{"_acf_changed":false,"_searchwp_excluded":"","footnotes":""},"class_list":["post-1005","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.8 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Student Loans - ICCU<\/title>\n<meta name=\"description\" content=\"A student loan with us means you get competitive variable and fixed interest rates, no origination fee or prepayment penalty, and multiple repayment options. 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