Union Federal Private Student Loan

Union Federal Private Student Loans can help bridge the gap when scholarships, grants and federal loans aren't enough to pay for school. Union Federal makes it simple to shop for the loan that's right for you. Our online loan application lets you compare different repayment terms before selecting the loan that best fits your needs. Apply today!

Apply for a Union Federal Student Loan

• Interest rates from 2.81% to 9.20% ¹
• No origination fees
• Receive a 0.25% interest rate reduction for making monthly payment from your bank account automatically ²
• Earn a 0.25% interest rate reduction for on time payments ³
• Co-signer release available ⁴
• Apply with a creditworthy cosigner and you may receive a lower interest rate

Online Application Features

• The Union Federal Private Student Loan application takes as little as 15 minutes to complete
• Our EasyInvite (SM) tool lets you engage the cosigner in the loan application process with clicks of a mouse
• Instant Credit review with online application submission ⁵

Apply for a Union Federal Student Loan

¹ The current interest rate in effect as of 7/1/2011 ranges from 2.81%to 9.20%. The applicable interest rate for each calendar quarter shall be based on the average of the One-month London Interbank Offered Rate ("LIBOR") published in the "Money Rates" section of The Wall Street Journal (Eastern Edition) on the 1st day of each of the three previous calendar months, or the next business day thereafter, rounded to the nearest 1/100th percent (.01%). LIBOR stands for London Interbank Offered Rate. Your variable interest rate and Annual Percentage Rate (APR) may be higher depending upon your and your cosigner's credit history and will increase or decrease if the One-month LIBOR index changes. The current One-month LIBOR index was 0.21% on 7/1/2011.

² To qualify, simply arrange with your loan servicer to automatically deduct monthly principal and interest payments from a bank account. The automatic payment benefit will discontinue and be lost for the remaining repayment period in the event any three payments are returned for insufficient funds over the life of the loan. This benefit is not available for interest payments made during the Deferment Period for the Interest-Only Repayment Option or Student Starter (partial interest payment) Option. This benefit may be terminated during deferment and forbearance periods.

³ Additional interest rate reduction of 25 basis points (0.25%) for borrowers who have made on-time monthly principal and interest payments (received within 10 days of the due date) for a minimum of the first 36 consecutive months. The borrower must have elected to use automated electronic payments prior to the 36th such payment. To qualify, contact your loan servicer after making the first 36 consecutive principal and interest payments on time.

⁴ Request for the cosigner to be released can be made after the first 36 consecutive, on-time payments (not later than 10 days after the due date) of principal and interest have been made. The borrower must meet credit criteria at the time of the request. The borrower must also be currently enrolled for automatic deduction of monthly payments from a bank account and must not have used forbearance on the loan prior to the request.

⁵ Passing the initial credit review is based on review of all the information you and your cosigner (if applicable) provide during the application process and the information obtained from your credit report(s). If you pass the initial credit review, you will need to provide acceptable documentation such as your income verification and Applicant Self-Certification Form and we will need the certification from your school before the final loan approval.