Federal Stafford Loans 6.00%
APR*
Undergraduate subsidized loans
Federal Stafford Loans 6.80%
APR*
Graduate Subsidized
Undergraduate unsubsidized
Federal Parent Plus/Grad Plus Loans 8.50%
APR*
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It’s easy to set up. All you need to do is go to your college’s Financial Aid office, give them our Lender Code # 832868, and let them
know you would like to finance your student loan through Hermantown Federal Credit Union. It’s that simple.
You know the value of a college education.
Getting a college degree is a worthwhile goal. College
graduates make an average of one million dollars more than
those without college degrees (www.studentloanfacts.org). But
the cost of a college education can be overwhelming for both
students and parents. That’s why Hermantown Federal Credit
Union offers Federal Family Education Loan Program (FFELP)
loans. If you or another family member plans to attend a university,
technical college, or any specialized training program, HFCU
can help you with the funding you need to pursue your dreams.
FFELP offers loans for students and parents.
- Stafford Loans
- The subsidized Federal Stafford Loan is based
on financial need. The government pays the interest while
you are in school.
- The unsubsidized Federal Stafford Loan is
not based on need but family income is a determining
factor. You pay all the interest, although you can have
the payments deferred until after graduation.
- Parent PLUS/Grad PLUS Loans
Creditworthy parents of dependent undergraduate students
and graduate/professional students can apply for this loan,
which is not based on need.
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