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Student Loans

PCM Credit Union has partnered with ISL Education Lending to help members with college expenses. Through this partnership, we are able to offer three types of loans for college financing. There are no origination or late fees associated with any of these loans.

Student Loans

The suite of Partnership Loans were created to help undergraduate and graduate students pay for college. These loans are taken out in the student’s name and feature fixed rates. Cosigners are often needed for the Partnership Advance Education Loan®. With this loan, students choose the type of in-school payment that is best for their financial situation:

  • Immediate Payment
  • Interest-Only Payment
  • Deferred Payment

Borrowers and cosigners can benefit during repayment with:

  • An interest rate reduction.
  • The opportunity to release cosigners from
    their obligation.

Parent Loans

The College Family Loan® is a fixed-rate loan for parents to borrow on behalf of their college student. Keep in mind:

  • Nearly all the College Family Loan annual
    percentage rates are lower than what we
    calculate for the federal parent PLUS loan rate.
  • The borrower chooses when to begin
    repayment when applying.
  • Borrowers can take advantage of an interest
    rate reduction by making principal and interest
    payments automatically.

 

Please be aware that, for this loan, the student is neither the borrower nor cosigner, but loan proceeds are sent to the college for the benefit of the student.

Refinance Loans

The fixed-rate Reset Refinance Loan® is an option for borrowers with current student loan debt who are looking for:

  • A lower rate, which can mean paying less in
    total interest.
  • Lower monthly payments, which can help if
    budgets are tight.
  • The option to make one payment to one
    lender for easier repayment.

 

There are a number of options for refinancing loans based on the borrower’s situation. But all options allow borrowers to refinance one loan or combine multiple loans, including private education loans, previously refinanced or consolidated education loans and federal loans into one new private loan.

Click here to learn more about ISL Education Lending’s offerings.

Please note:

  • All loans offered by ISL Education Lending are subject to credit approval.
  • Before applying for a private loan, we encourage you to first complete the FAFSA, or Free Application for Federal Student Aid. You should also work with your college financial aid office to explore and exhaust all sources of student financial aid before seeking a private student loan.

PCM Credit Union is compensated by ISL Education Lending for the referral of student loan customers.