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MORE INFO |
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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FIC Scholarships
The MN Family Involvement Council offers scholarships to MN credit union members.
Watch for information for applications this fall or visit the
MN FIC Scholarship web site for details.
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Contact Us
Click here for a listing of our office
locations, hours, and phone numbers.
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Our Privacy Policy
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here to learn more.
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Student Loans
SLCU can simplify your student loan application or
consolidation process!
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
http://www.mapping-your-future.org.
[external link disclosure]
Soo Line Credit Union's Lender Number is
833713.
How to Apply for Federal Financial Aid
- After selecting a school, a student must apply for admission and be
accepted.
- 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.
[external link disclosure]
Once completed, students must mail the FAFSA to the designated
processor listed in the application, or send it over the Internet.
Refer any questions regarding the FAFSA application to
your financial aid office.
- 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
apply online for a
Master Promissory Note (MPN).*
[external link disclosure]
- 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
apply online for a
Federal
Parent PLUS
loan.* [external link disclosure]
- Graduate students and professional students may apply online for the
Federal
Graduate/Professional PLUS
loan.* [external link disclosure]
* Be sure to print a copy of any
completed online applications for your personal records.
Answers
to Student Loan Questions
What types of federal loans are 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) There is also a PLUS program available
for graduate and professional 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.
Who can I call with questions?
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Prior to Disbursement... |
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... |
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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