Lines of Credit

Post-Secondary Financing

An Eagle River Credit Union Student Line of Credit is an affordable way to make continuing education possible. Students can borrow to assist with the cost of attending a post-secondary educational institution, including community college, university, or technical school.

Benefits:

  • Lines-of-credit are available to full-time students only (a co-signer may be required), at very competitive interest rates.
  • While in school, you pay only a 1% monthly payment on the outstanding balance.
  • Lines-of-credit payments on the principal do not begin until six months after you have stopped being a student.

Features:

  • Repayment amortizations up to 5 years, depending on loan balance.
  • Credit Life and Disability insurance available

Line-of-credit means you apply once and advance funds as needed. You pay interest only on amount used.

 

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