Student Expenses Add Up Quick!

College, trade schools, or public and private universities come with a lot of expenses not covered by Student Loans and Grants. A laptop, software, textbooks, office supplies, or furniture for an apartment or dorm room are just the beginning of random costs that are part the education experience. These expenses can eat away at your school savings in a hurry. Here are some options to help with the costs of being a Student.

The Student Expense Loan

This is your basic Student Expense Loan for members with existing credit history. Based on the Credit Union's lending qualifications, the member can take out a loan with just a signature.

Maximum Financed: $5000

Term: 36-Months

APR: As low as 7.49%

The Deferred Student Expense Loan

This version of the Student Expense Loan allows the member to have no payments for 90-days. During the 90-day period, the interest rate on the loan will be 4.99% APR. Once the deferred period ends, the loan will go to the standard rate of 7.99% APR for the remainder of the term.

90-DAYS NO PAYMENTS

Maximum Financed: $5000

Term: 36-Months

APR: As low as 4.99% for the first 3 month, as low as 7.99% for the remaining 33 months.

The Credit Builder Student Loan

This loan best serves the student (member) who is trying to build their credit, and has little to no past credit history. The Credit Builder Student Loan is a share secured loan, where the parents open a share certificate (CD) up to $5000 with Space Age at the rate of 2.50% APY for three years. Once the CD is opened, the student will then be financed for a loan up to $5000 with Space Age. The student will make payments for 3 years. As long as the loan is paid off and in good standing at the end of the 3-Year Term the loan will be closed, and the parents will be able to withdraw their funds plus interest penalty free. Alternatively, the student will also have the option at the end of the three years to keep the loan open and have it switched to a Line of Credit at Space Age with proof of income.

Maximum Financed: $5000

Term: 36-Months

APR: As low as 6.99%

Secured by a Three Year CD at 2.50% APY for up to $5000

Option to switch to a Line of Credit at the end of the 3-Year Term

The Student Checking Account
+$200 Account Bonus

This is a classic Checking Account opened with an accompanying Debit Card and Line of Credit up to $1000 (Based on qualifications) to help cover unexpected expenses. When the account is opened, the student must have an attached direct deposit or reoccurring deposit to the account. After the member uses their Debit Card 10 times, they will be awarded an "Account Bonus" of $200 that will be deposited directly into their checking account.

Classic Checking Account

Requirements: Direct or Reoccurring Deposit

Line of Credit (up to $1000)

$200 Account Bonus after 10 uses of attached Debit Card

^{*APR=Annual Percentage Rate. APY=Annual Percentage Yield. Promotional offer on student expense loans valid until October 31, 2026. To qualify for promotional offer, member must present a valid student ID card and/or proof of enrollment in a higher-education institution or trade school. Applicant (student) must be 18 years old or older, and have proof of income and/or a co-signer on the loan. Qualifications are based on individual credit worthiness, and rates are subject to change without notice.}

^{The Student Expense Loan: $5,000 maximum financing with a 36-month term. Current rates as low as 7.49%APR.}

^{The Deferred Student Expense Loan: $5,000 maximum financing with a 36-month term. Current rates as low as 4.99%APR for the first three months of deferment, and then as low as 7.99%APR for the remaining 33 months of the loan term. 90 days of no payment begins on the loan origination date. Interest will continue to accrue during the 90 days of no payment.}

^{The Credit Builder Student Loan: A shared-secured loan with $5,000 maximum financing and a 36-month term. Rates as low as 6.99%APR. An accompanying 3-year term Share Certificate (CD) must be opened at the time of the Credit Builder Student Loan. The CD rate for this promotional offer is 2.50%APY, and can be opened with a balance of up to $5,000; CD balance must be enough to cover the original approved loan balance. As long as the loan is paid off and in good standing at the end of the 3-year CD term, the loan will be closed and the CD funds, plus interest, can be withdrawn penalty-free. Alternatively, the loan applicant (student) has the option to keep the loan open, at which time it will be switched to an unsecured line of credit, with provided proof of income.}

^{The Student Checking Account with Added Bonus: To qualify, student checking account must be set up for direct deposit or recurring deposits. Debit card can be added to account for no charge. After utilizing debit card 10 times within the first 90 days of opening the account, a $200 account bonus will be issued as a deposit into the checking account. A $1,000 Line of Credit may be attached to the account if qualifications and credit worthiness are met.}