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Ages 16-21
Take an Advantage to school. Our Advantage Account includes
a starter VISA card. Click here to learn more.
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That Shirt is SO Last Semester!
No matter how fast teen trends come and go, a
VISA Gift Card is always in style.
Buy one for the youth in your life!
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Student Loans
SLCU can help with your student loan process! Call Darryll at
763-569-9977.
Soo Line Credit Union offers a variety of Student Loans through Great
Lakes Higher Education Corp. For specific questions regarding applying for financial aid, you should
contact the staff of the financial aid office at the school you will be
attending. For more information to help you decide which type of loans
best suit your situation, visit the "Student Loan Borrowers"
section of www.mapping-your-future.org.
[external link disclosure]
Soo Line Credit Union's Lender Number is
833713.
2009 FIC Scholarships
The MN Family Involvement Council offers scholarships each year to MN credit union members.
Watch for information for 2009 applications coming this fall or you can visit the
MN FIC Scholarship web site for details.
[external link disclosure]
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How to Apply for Federal Financial Aid
Answers to Questions about your Student Loan

If
you're paying Student Loans...
NOW is the time to consolidate
your Student Loans! Click
here for more details.
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Types of Student Loans Available
Subsidized Federal Stafford Loan
- A loan
eligible for interest paid by the federal government. The federal
government pays interest that accrues on subsidized loans during the
student's in school, grace, authorized deferment, and (if applicable)
post-deferment grace periods, if the loan meets certain eligibility
requirements.
Unsubsidized Federal Stafford Loan - A
non-need-based loan such as an unsubsidized Federal Stafford loan or PLUS
loan. The borrower is responsible for paying the interest on an
unsubsidized loan during in-school, grace and deferment periods, in
addition to the repayment periods.
Federal PLUS Program - The Federal PLUS (Parent
Loans for Undergraduate Students) Program makes loans available to parents
of dependent students. All borrowers under the Federal PLUS Program must
use the loan funds received solely to pay educational costs.
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How to Apply for Federal Financial Aid
- After selecting a school, a student must apply for admission and be
accepted (students can visit www.mapping-your-future.org
for information on selecting a school, paying for school, planning a
career and other valuable features).
- If financial aid is needed, the student must complete a Free
Application for Federal Student Aid or FAFSA. The forms are available
from high school guidance counselors or from the financial aid office
of the school the student will be attending. Students can even apply
over the Internet at www.fafsa.ed.gov.
Student should refer any questions regarding the FAFSA application to
their financial aid office.
[external link disclosure]
- Once completed, students should mail the FAFSA to the designated
processor listed in the application, or send it over the Internet.
- In 3-4 weeks, the processor will mail the student and school the
results in the form of a Student Aid Report or SAR. The school will
determine the financial aid for which the student qualifies and notify
the student in an award letter.
- If the award letter states the student qualifies for a subsidized Federal
Stafford loan or an unsubsidized Federal Stafford loan, he/she should
complete a Master Promissory Note (MPN)
- 205KB, PDF*. Once the form is completed, mail it back to Soo
Line Credit Union,
501 Marquette Avenue,
Suite 1100,
Minneapolis, MN 55402.
- If the award letter says there is still unmet need or that the student
does not qualify for either of the Federal Stafford loans, he/she should
complete a Federal PLUS
Master Promissory Note (MPN) - 174KB, PDF*. Once the form is
completed, mail it back to Soo Line Credit Union,
501 Marquette Avenue,
Suite 1100,
Minneapolis, MN 55402.
Where to Send a
Completed Student Loan Application
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In Minnesota, send to:
Great Lakes Educational Loan Services, Inc.
PO Box 64080
St. Paul, MN 55164-0080
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In Ohio and Michigan, send to:
Great Lakes Educational Loan Services
PO Box 182174
Columbus, OH 43218-2174
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In AK, AZ, CA, CO, HI, ID, KS, MT, ND, NM, NV, OK, OR, SD, TX, UT,
WA, WY, send to:
Great Lakes Educational Loan Services, Inc.
PO Box 64080
St. Paul, MN 55164-0080
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All other states send to:
Great Lakes Educational Loan Services
PO Box 7987
Madison, WI 53707-7961
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Answers
to Student Loan Questions
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Prior to Disbursement...
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Call*
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Minnesota & North Dakota
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1-800-366-0032
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Ohio & Michigan
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1-800-377-9095
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AK, AZ, CA, HI, ID, KS, MT, NV, NM,
OK, OR, SD, TX, UT, WA, WY
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1-800-247-0462
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All other states
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1-800-236-6600
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After Disbursement...
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1-800-236-4300
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* Internet Borrower Inquiries can be directed to www.mygreatlakes.com.
[external link disclosure]
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Consolidate your Student Loans
The Federal Consolidation loan option
can save you up to 50% on your monthly payments by combining education
loans from multiple lenders into a single loan.
Advantages to Consolidation
- A simplified payment process with one lower monthly payment and one
payment due date.
- No Maximum limit on the dollar amount for a consolidation loan (loans
being consolidated must total at least $5000).
- One fixed interest rate.
- A free service-loan consolidation is free to the borrower.
- A repayment period determined by the total loan balance
consolidated.
Call 1-800-236-6600 and speak to the Great Lakes' borrower contact
department. They will counsel you on the
Federal Consolidation Loan
Application (360KB, PDF*) and payment processes and send qualified borrowers an
application. Remember to complete your application with SLCU's Lender
number - 833713.
* PDF
documents require Adobe Acrobat to be downloaded. If you do not have Adobe
Acrobat, you can download it from the Adobe Web site. Simply click on the
Adobe Acrobat link.
[external link disclosure]
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