Student Loans & Financial Aid

A good education is an investment in the future.  Good planning combined with good financial resources can make college dreams a reality.  Premier Members Credit Union is committed to thinking ahead for your financial needs.  That’s why we connect you to valuable resources for today’s needs and tomorrow’s opportunities. CollegeInvest is just such a resource.  

CollegeInvest is a not-for-profit division of the Colorado Department of Higher Education. As such, their only goal is to help students get an education beyond high school. They work hard to provide expert information, simple planning tools, scholarships, savings plans, and low-cost student and parent loans to take your education dollars as far as they can go.
 

Learn more about CollegeInvest and Loan Programs  today!

Getting Started
College money can come from many different sources: family income, savings, investments, retirement, scholarships, and financial aid.  Two-thirds of all full-time students receive some type of financial aid, and federal loans are a popular, low-cost choice.

Student loans are funds paid back at low, federally capped interest rates. CollegeInvest offers low-cost loans to students and to parents of students who attend Colorado colleges, and to Colorado residents who go out of state.

Federal Stafford Loan
Families of all income levels can qualify for these low-interest student loans. There are two types of Stafford loans: subsidized and unsubsidized.  With a subsidized Stafford loan, the government pays the interest on your loan while you are in-college, in a grace period, or in a qualified deferment.  With an unsubsidized Stafford loan, you are responsible for all accrued interest while you are in college, grace or deferment. You can choose to either pay the interest, or have it capitalized to your principal.

PLUS Loans for Parents and Graduate Students
A special loan program for parents and graduate students, PLUS loans are an easy, affordable way to meet your higher education financing needs. PLUS loans are often more attractive than home equity loans, as no collateral is required. With just a quick credit check, most borrowers are able to secure the additional financing required to bridge the gap in making your or your child’s higher education dreams a reality.

All Loans are Not Created Equal
Since CollegeInvest is a not-for-profit part of the Colorado Department of Higher Education, they can offer the most competitive terms in the state. While interest rates on all Stafford and PLUS loans are set by the federal government and are the same at all lenders, CollegeInvest offers special borrower benefits* that can really add up.

CollegeInvest Stafford Loan benefits
• Zero origination fees
• 1% of your principal balance is rebated as soon as your loan is disbursed
• 1% interest rate reduction when your loan repayment is automatically transferred from your bank
• 1% interest rate reduction after you make the first 24 consecutive on-time payments
• 1% additional rate reduction after you make another 24 on-time payments

PLUS Loan benefits
• 3% rebate when your loan is disbursed
• 0.25% interest rate reduction when your loan repayment is automatically transferred from your bank
• 5% principal balance reduction after you make payments on time for the first 30 months

With CollegeInvest’s great borrower benefits, you could significantly reduce your interest rate and cut down your principal balance! Visit www.collegeinvest.org for more information.

*Benefits are for new loans disbursed on or after 7/1/07 and are subject to change without warning.

CollegeInvest Alternative Loan
The CollegeInvest Alternative Loan is a private, variable-rate loan. You can borrow as much or as little as you need based on the cost of attendance minus any other financial aid you receive. And with CollegeInvest's competitive interest rates, borrowers or cosigners with a high credit rating could be eligible for one of the lowest rates around! Apply today at www.collegeinvest.org for a quick credit decision. Once approved, you'll have access to your loan within days.

Fast and easy
• No fees
• Quick funding
• Easy application

Terms and Benefits
• No annual or lifetime maximum dollar amount, $1000 minimum loan amount
• Payment can be deferred until up to six months after graduation
• Up to 20-year repayment term
• No prepayment penalty

Eligibility
• Must credit qualify or provide an eligible cosigner
• Must be a U.S. citizen or permanent resident
• Must be enrolled in classes at least half-time at an eligible 4-year institution of higher education
• Must meet satisfactory academic progress requirements established by the school
• Must apply within your school's enrollment period

Student and Parent Consolidation Loans
After you or your son or daughter leave college, you may want to consider student loan consolidation. Consolidation is a debt-management strategy that allows borrowers to lock-in a low interest rate while lowering monthly payments, often by more than half.  Again, because CollegeInvest is not-for-profit, they offer the best consolidation loan terms in the state. For more information on whether this strategy is right for you, contact a consolidation counselor at 1.800.448.2424, or visit www.collegeinvest.org.

Each family has unique needs. CollegeInvest can help you pull together the right mix to create your unique college financing plan. Take advantage of this resource and learn more about all your options today.