Student Loan Options for Our Members
State Highway Patrol Federal 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.
Private Student Loans
The Partnership Advance Education Loan® is a national loan for undergraduate and graduate student borrowers, who may need one or more cosigners.
The College Family Loan® is for parents, family members or friends looking to borrow on behalf of students to help with college expenses or to relieve some of their potential debt. Applicants who do not meet the credit criteria on their own may apply with one or more cosigners.
You can review loan information, including required FICO scores to receive different interest rates, online before you apply. Other features include:
Fixed and variable interest rates for the Partnership Loan. The College Family Loan has fixed rates only
Choice of interest-only or full principal and interest payments while enrolled in school or deferred payments until after school
An interest-rate reduction for automatic payments
Refinance Loans
Refinance loans are available to help you repay existing student loans as well. The Reset Refinance Loan® offers the opportunity to simplify repayment and lower:
The interest rate you pay on student loan debt
The amount you will pay over time through shorter repayment terms or lower rates or a combination of both
Monthly payment amounts through a longer repayment term
As with the other loans, eligibility and credit criteria requirements are provided upfront and in clearly defined language online. You may complete a simple pre-qualification step to see the rates you may qualify for without impacting your credit score.