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    One Loan.  One Payment.

    You're embarking on one of the most important journeys of your life!  From the loan application process, to graduation and beyond, ECU will be here every step of the way.

    Your Journey.  Our Commitment.

    A private student loan from ECU can help bridge the funding gap between scholarships, federal loan options and your total educational expenses.  ECU's revolving line-of-credit allows the student to set up the loan one time, and then make advances each semester to cover costs. Whether you are just out of high school or working on your second degree, ECU is here to help with great fixed rates and interest-only payments until graduation.

    Why Choose an ECU Student Loan?

    • Low Fixed Rate Student Lines of Credit, so your rate will never increase.
    • No application or processing fees, lengthy forms, or annual renewal
    • Fast approval
    • No pre-payment penalties
    • Your loan can cover tuition, room and board, books, fees, and other expenses with multiple terms and financing options available
    • No minimum credit hour requirement, Summer & Winter terms covered, and you can use your student loan to pay for Industrial & Technical School programs
    • Up to 25 years financing* and you'll make interest-only payments until graduation, which keeps the amount of interest paid much lower.

    *Certain restrictions apply.

    Student Line of Credit Rates

    Rates are subject to change.  Any loan application submitted after 5:30 p.m. (Eastern) will use the rate for the next business day.

    132 monthsFixed Rate4.650%$22.88
    168 monthsFixed Rate5.150%$23.10
    192 monthsFixed Rate5.650%$23.33
    252 monthsFixed Rate6.150%$23.56

    Rates accurate as of October 1, 2021 and are subject to change.

    1Term listed is repayment period beginning six months after graduation.

    2APR refers to Annual Percentage Rate. Your rate may be higher depending on credit history, underwriting criteria, loan amount and school accreditation. Certain restrictions may apply.

    3Payment example is based on $1,000 for 48 months. The minimum monthly payment is $100. To calculate your estimated payment, please use our payment calculator located at https://www.ecu.org/Resources/Calculators.


    • What do I need to apply?
      • Official statement of costs for tuition, room/board, etc. (i.e. bill, invoice, award letter)
      • Acceptance letter (if applicable)
      • Last semester's grades (if applicable)
      • Class schedule, if available
      • Proof of income for student and/or guarantor (two most recent pay stubs)
      • Driver's license or Student I.D.
    • Do I have to schedule an appointment to apply for a student loan?

      ECU conveniently offers multiple application channels for an ECU student loan. Students may apply by calling ECU’s Lending Center at 1-800-999-2328, ECU Online® at www.ecu.org, or visit any branch. Once the online application is received, an ECU Lending Representative will contact the applicant for any additional information needed. Often, the entire application process can be completed via phone, internet or fax.

    • Is a co-signer required for student loans?

      Most college-bound students have not had the opportunity to establish credit; therefore, a co-signer or guarantor may be required. The line of credit will be in the student’s name and will help them establish credit for the future.

    • What does the student need to submit for the initial student loan application?

      The following documentation must be provided when applying for an ECU student loan:

      • Official statement of costs for tuition, room/board, etc. (i.e. bill, invoice, award letter)
      • Other financial aid such as scholarships, grants, lottery funds, etc.
      • Acceptance letter (if applicable)
      • Class schedule, if available
      • Last semester’s grades (if applicable)
      • Proof of income for student and/or guarantor (two most recent pay stubs)
      • Driver’s License or Student ID
    • When can I apply for a student loan?

      ECU urges students to apply for their ECU student loan as soon as appropriate documentation can be provided (see above) in order to avoid the last minute rush. Please allow adequate time to process the application.

    • What expenses are eligible to be included in the student loan?

      An ECU student loan covers many expenses that other funding options do not typically include. The following expenses will be covered:

      • Tuition
      • Books
      • Room/board
      • Fees
      • Computer
      • Study abroad tuition
      • Other required expenses

      Documentation of expenses is required prior to an advance.

      For students attending a school with on-campus living, a maximum allowance of $650 per month will be covered, should the student choose to live off campus.  All expenses will be verified via a lease agreement.

    • How do I apply for a Student Loan Advance?

      Obtaining an advance on an ECU student loan is simple. We encourage you to request your advance by completing the Student Loan Advance form found at www.ecu.org within ECU Online® or calling the ECU Service Center at 800.999.2328.

      In order to complete the advance, the student will need to submit the following:

      • Bill/Invoice from the school
      • Last semester’s grades—must be 2.50 or higher
      • Current class schedule
      • If requesting funds for books, documentation showing the cost of the books is needed

      As long as all documentation is received and the 2.50 GPA has been maintained, an advance can generally be completed within 24 hours of being requested.

    • When do I have to begin principal payments on my student loan?

      Students pay interest-only payments while they are attending school. Principal payments begin six months after the date of graduation or last date of attendance.

    • How much will my student loan payment be?

      While attending school, students will only be required to pay the interest due on the student loan each month. Once principal payments begin, the minimum principal and interest payment is $100.00; however, a student’s payment could be higher as the payment amount is based on the amount borrowed.

    • What is the maximum term for a student loan?

      The term on an ECU student loan is based on the amount financed. The maximum term is 21 years.

    • Does ECU offer a consolidation loan for educational expenses?

      Yes. ECU can simplify your life and save you money by eliminating student loan payments to multiple lenders and consolidating them into one easy monthly payment at ECU.

    Student Loan Consolidation

    Do you have multiple student loans with varying rates financed at other financial institutions or from other sources?  Wouldn’t you love the simplicity of one student loan payment at a great rate?  ECU can help!

    One Loan, One Payment and No Application Fees!

    Apply for a loan anytime that is convenient for you. It’s simple, secure and it takes just minutes.

    Details for your application:

    • A valid Social Security Number / Individual Taxpayer Identification Number is required to apply.
    • Provide a valid email address.
    • You must be eligible for membership at ECU. Click here for more info.
    • You must provide a 20-day payoff for current lenders with payoff addresses.
    • It is acceptable to refinance an Eastman Credit Union student loan, as well as loans from other lenders.

    Rates as low as 3.75% APR*

    Federal Loan Consolidation:  Federal student loans are funded by the federal government. Private student loans are nonfederal loans, made by a lender such as a bank, Credit Union, state agency, or a school. Federal student loan programs offer various benefits and repayment options, such as income-driven repayment plans or loan forgiveness programs. If you consolidate or refinance your federal loans with a private lender, such as ECU, you will lose benefits available to federal student loan borrowers. For more information, visit www.ed.gov.

    *Important Information:  Subject to Approval.  APR is Annual Percentage Rate. Your rate may be higher depending on credit history, underwriting criteria and loan amount.  Certain restrictions may apply.

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