COLLEGE LOANS

SF Fire Credit Union provides private student loans through a partnership with Credit Union Student Choice. All loans subject to approval and restrictions may apply. We reserve the right to change rates for new applications at any time and without notice. Credit union membership  is required. See Terms & Conditions.  

¹Interest rates range from 11.00 - 12.00% as of 09-19-24 and are indexed to Prime Rate plus 3% or 4% based on credit worthiness. The Annual Percentage Rate is subject to increase after consummation. The interest rate will be adjusted quarterly, based on changes to the Index. The APR will not exceed 18.00%, or fall below the Floor rate regardless of the Index or any additional rate discount.

The Floor rate is 6% for FICO® Scores of 730 or higher, and 7% for FICO® Scores between 660-729. Each FICO® Score is a three-digit number calculated from the data on your credit reports at the three major consumer reporting agencies—Experian, TransUnion and Equifax. FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries. SF Fire Credit Union and Fair Isaac are not credit repair organizations as defined under federal or state law, including Credit Repair Organizations Act. SF Fire Credit Union and Fair Isaac do not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history, or credit rating.

Any increase in the Index may increase the APR and the amount of your monthly payment. Prime rate published in the "Market Data Center" section of the Wall Street Journal on 09/1/2024 has increased from the previous quarter's published index rate by .50% on 09/19/2024, the index will be increased by .50% for new Line of Credit applications. Current offered rate(s) are calculated by using the Index, Margin and Floor value(s) in effect. Your specific Interest Rate, Margin, Floor, and/or credit approval depends upon the credit qualifications of the student borrower and co-borrower (if applicable). Margin will be disclosed at account opening. Student borrowers may apply with a creditworthy co-borrower which may result in a better chance of approval and/or lower interest rate.

Borrower Eligibility Criteria

Undergraduate Student Loans

• U.S. citizens or permanent residents (non-resident students are NOT eligible)
• At least the age of majority in your state of residence. Please note, in most states, you must be at least 18 years old. You must be 19 years old in Alabama. You must be 21 years old in Mississippi and Puerto Rico. If you are not the age of majority in your state you may qualify with a co-borrower who is or other unique circumstance that would allow you to qualify.
• Continually enrolled in a degree-granting program and meeting the school’s minimum Satisfactory Academic Progress (SAP) criteria. For fall and spring terms, you must be enrolled at least half-time. For summer term, you may be enrolled less than half-time.
  (Should you drop below half-time in the fall or spring, withdraw during any term, or fail to meet SAP requirements, your funding request can be denied, your line of credit may close, and you may enter repayment)
• Before applying, make sure to check that your school is included in our listing of approved schools
• Able to meet San Francisco Fire Credit Union's standard underwriting criteria (a cosigner may be necessary in order for you to meet credit criteria, and may also help you qualify for a lower rate)
• Eligible for credit union membership (you may apply without being a member of the credit union, but you will need to become a member in order for the loan to be funded

Undergraduate Student Loans

• U.S. citizens or permanent residents (non-resident students are NOT eligible)
• At least the age of majority in your state of residence. Please note, in most states, you must be at least 18 years old. You must be 19 years old in Alabama. You must be 21 years old in Mississippi and Puerto Rico. If you are not the age of majority in your state you may qualify with a co-borrower who is or other unique circumstance that would allow you to qualify.
• Continually enrolled in a degree-granting program and meeting the school’s minimum Satisfactory Academic Progress (SAP) criteria. For fall and spring terms, you must be enrolled at least half-time. For summer term, you may be enrolled less than half-time.
  (Should you drop below half-time in the fall or spring, withdraw during any term, or fail to meet SAP requirements, your funding request can be denied, your line of credit may close, and you may enter repayment)
• Before applying, make sure to check that your school is included in our listing of approved schools
• Able to meet San Francisco Fire Credit Union's standard underwriting criteria (a cosigner may be necessary in order for you to meet credit criteria, and may also help you qualify for a lower rate)
• Eligible for credit union membership (you may apply without being a member of the credit union, but you will need to become a member in order for the loan to be funded

Graduate Student Loans

• U.S. citizens or permanent residents (non-resident students are NOT eligible)
• At least the age of majority in your state of residence. Please note, in most states, you must be at least 18 years old. You must be 19 years old in Alabama. You must be 21 years old in Mississippi and Puerto Rico. If you are not the age of majority in your state you may qualify with a co-borrower who is or other unique circumstance that would allow you to qualify.
• Continually enrolled in a degree-granting program and meeting the school’s minimum Satisfactory Academic Progress (SAP) criteria. For fall and spring terms, you must be enrolled at least half-time. For summer term, you may be enrolled less than half-time.
  (Should you drop below half-time in the fall or spring, withdraw during any term, or fail to meet SAP requirements, your funding request can be denied, your line of credit may close, and you may enter repayment)
• Before applying, make sure to check that your school is included in our listing of approved schools
• Able to meet San Francisco Fire Credit Union's standard underwriting criteria (a cosigner may be necessary in order for you to meet credit criteria, and may also help you qualify for a lower rate)
• Eligible for credit union membership (you may apply without being a member of the credit union, but you will need to become a member in order for the loan to be funded)

Co-Signers

Must be at the age of majority or older at the time of loan application.

Bankruptcy Limitations

If you file for bankruptcy, you may still be required to pay back this loan.