CU Student Choice

CU Student Choice is a credit union service organization that helps credit unions offer private student loan products to their members. It works in the background by providing the technology and loan infrastructure while credit unions, which are member-owned not-for-profit financial institutions, deliver the loans directly to borrowers.

Because the loans are issued through individual credit unions, the experience and eligibility requirements can vary depending on which credit union you are working with. Generally, you need to be a member of a participating credit union to access CU Student Choice products.

Before applying for any private student loan, it is important to complete the FAFSA and maximize federal student loan eligibility. Federal loans offer income-driven repayment, deferment, potential forgiveness, and other protections that private loans do not provide.

Credit union student loans through CU Student Choice may offer competitive rates compared to commercial lenders because credit unions operate on a not-for-profit basis and often return benefits to members in the form of lower rates or reduced fees. However, rates and terms vary by credit union, so it is worth confirming the specific offer from your credit union.

Most students will need a creditworthy co-signer to qualify, particularly those with limited credit history. Co-signer release options, if available, vary by the participating credit union.

Repayment options during school typically include deferred payments, interest-only payments, or immediate full repayment. Beginning repayment earlier reduces total interest paid over the life of the loan.

When evaluating a CU Student Choice loan through your credit union, compare the annual percentage rate, total repayment cost, fees, and repayment terms against other private loan options before making a decision.