Student Loans

• Personal information (such as name, date of birth, Social Security number)
• Sufficient income information for either the borrower or cosigner (if applicable)
• School enrollment information, if known
• Amount needed for your current school term
• If applying with a cosigner, you’ll want to have them present. The cosigner will also need to provide the same type of personal information as the student borrower. If they cannot be present, you should have their primary email address on hand – we’ll send them a notification to input their information.

Yes. To be eligible for funding, the borrower must be attending an approved school. To verify that your school is approved, view a list of approved public or private not-for-profit schools. You can also view this list in our application before applying. Please note that the eligible school list is subject to change without notice.

Our private student loans can be used for any items listed in your school’s cost of attendance, or other education-related expenses. The amount you are eligible to borrow will be certified by your school, and the funds are sent directly to your college.

If some of the loan will be used to cover items not directly paid through the school, such as books, off campus rent, or a laptop, the school will issue you a refund for the excess amount.

The borrower and co-applicant (if applicable) must be a member of Chaffey FCU. To expedite funding, schedule an appointment or visit our online membership application to open your membership account while we are processing your loan.

The maximum loan amount will be the certified need determined by your school for the remainder of your currently enrolled higher education. The certified need is typically the Cost of Attendance (COA) less other financial assistance and aid received. For more information on the maximum loan amount we offer, please view our rates.

Please note that the undergraduate maximum co-applicant aggregate amount for borrowing (across multiple lines of credit for multiple borrowers) is $100,000.

Please note that the graduate maximum co-applicant aggregate amount for borrowing (across multiple lines of credit for multiple borrowers) is $250,000.

A borrower is not required to apply with a cosigner. However, applying with a credit worthy cosigner may improve a borrower’s chance of meeting Chaffey FCU’s approval criteria and potentially qualify for a lower interest rate.

Yes. You must be continually enrolled in a degree-granting program and meet your school’s minimum Satisfactory Academic Progress (SAP) criteria to be eligible. Should you withdraw during the term or fail to meet SAP requirements, your funding request can be denied, your line of credit may close, and you may enter repayment.

Undergraduate enrollment:

• For fall and spring terms, you must be enrolled at least half-time
• For summer term, you may be enrolled less than half-time

Graduate enrollment:

• For fall and spring terms, you must be enrolled at least half-time
• For summer term, you may be enrolled less than half-time

With our unique education line of credit, you will not need to reapply each year (assuming there are no significant changes to the borrower or co-applicant credit scores). Each year, you will simply request additional funds (called a “draw”) for the amount you wish to have disbursed to your school (based on your school’s certified amount). Funds are disbursed to your school based on the school’s disbursement cycle. You will request the specific draw amount from your line of credit each year.

You may choose to make interest-only payments while in-school; defer both principal and interest until six months after graduation; or make full payments while in school. If you defer both principal and interest payments during school, interest begins accruing at disbursement and will be capitalized when you enter repayment.