Loans » Student Loans
Private Student Loans
This is a Qualifying Service
More rates & disclosures
Variable Rate Private Student Loan
Private Student Loan
Private Student Loan
UW Credit Union Membership
Membership is required for student loan members. You will be asked to complete our membership process after you apply for your loan.1
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When federal student aid is not enough, get a Private Student Loan. Whether you prefer the low rates of our Variable Rate Private Student Loan, or the knowledge that your rate will remain the same for the life of the loan with our Fixed Rate option, we have a solution that will fit your needs.
Variable Rate: 2.71% annual percentage rate (APR). The APR assumes that you will be in school for 4 years and have a 6-month grace period before repayment begins.
Borrowing $10,000 at 2.78% accrues $1,252.05 in interest during 4 years in school and the 6-month grace period, resulting in 2.71% APR.
Rate is variable and can change quarterly. For further information on rates and costs for the Variable Rate Private Student Loan, see the Application Truth in Lending Disclosure.
Fixed Rate: 6.34% annual percentage rate (APR). The APR assumes that you will be in school for 4 years and have a 6-month grace period before repayment begins.
Borrowing $10,000 at 6.74% accrues $3,035.54 in interest during 4 years in school and the 6-month grace period, resulting in 6.34% APR.
For further information on rates and costs for the Fixed Rate Private Student Loan, see the Application Truth in Lending Disclosure.
You will be required to review the Application Truth in Lending Disclosure prior to submitting an application. For both Private Student Loans, the APR can differ from the interest rate as it considers fees paid to obtain the loan, your interest rate, if payments are deferred and reflects the cost of the loan as a yearly rate. You are not required to make payments on your loan while in school, although you may make principal and interest payments any time. Making payments while attending school will lower your APR. The minimum loan amount is $1,000. Your interest rate will be determined by your credit score or your cosigner's, whichever is greater.
Students attending any UW system school, Madison College or Edgewood College are eligible for Private Student Loans at UW Credit Union. Membership is required when taking a loan out with us. If you are not currently a member of UW Credit Union, we will contact you to establish membership. Establishing membership is easy and includes opening a membership savings account. If you do not complete the membership application, we will create your membership savings account for you.