Reminder that all our branches and drive-thrus will be closed on Monday, October 10th in observance of Columbus Day . You will be able to access your accounts via using our Digital Services or at any of our nearly 85,000 Surcharge-free ATMs. We will reopen during normal business hours on Tuesday, October 11th.

The Benefits of Student Loans

A student loan can help pay for educational expenses, including tuition and fees, room and board, books and supplies, transportation costs, and many other items. Whether you’re applying for an In-school student or a Student Refinancing loan, you’ll want to be sure that the loan choice you make is the best one for your situation. The type of student loan you choose can impact how much money you pay back and when it is required. For example, if you take out an unsubsidized loan for your undergraduate studies, the interest charges will accrue while you are in school and during an optional six-month grace period after graduation; however, if you opt for a new Direct Consolidation Loan to replace earlier loans you may never have to repay any interest because of its interest-free status.

In School Student Loan

A private student loan is a great way to help make your educational dreams a reality. It’s not easy to get through school without financial assistance. Still, you can help cover expenses that the original package of financial aid didn’t cover with an in-school private student loan.

  • Borrow as little as $2,000 in an undergraduate loan or as much as $120,000 in a graduate loan.
  • When you join up for automatic ACH payments, you will receive a 0.25 percent interest rate reduction.
in school student loan
student loan refinancing

Student Loan Refinancing

Student loan refinancing is a way to pay off your student loans by consolidating them into one new, more affordable loan. This makes the payment process easier, helps you save money, and gives you more flexibility with your finances.

  • There are no application or origination costs.
  • Make a single loan payment rather than numerous.
  • Select the one that best suits your needs.
  • Automatic (ACH) payments are eligible for a discount.
  • When requested, co-signer release after 12 months of on-time interest and principal payments.

How to Apply for a Student Loan?

Applying for a student loan is a straightforward process. The application can be completed online or by visiting our local branch in Bergen County and Passaic County, NJ. To start the process, you must have completed an undergraduate course of study and been awarded a degree. Once submitted, your application will either be denied, or the money will be deposited into your bank account.

To be eligible, applicants must fulfill the following credit and underwriting criteria:

  • Greater Alliance Federal Credit Union members only.
  • A current student or a recent graduate of a qualifying institution
  • Permanent resident or US citizen

Conclusion & Recommendations

Student loans can be a great way to pay for higher education, but it is essential to ensure that you understand the terms of your loan before signing on the dotted line. Before applying for a student loan, make sure that you qualify and understand how much you are borrowing and how it will affect your monthly payments after graduation. So, what are you waiting for? Apply for a student loan today!