Student Resource Center
One Source Federal Credit Union
Lender Code: 832984
Getting a college degree is a worthwhile goal. Thatís why One Source FCU offers Federal Family Education Loan Program (FFELP) loans. If you or another family member plans to attend a university, technical college, or any specialized training program, One Source FCU can help you with the funding you need to pursue your dreams.
Types of Loans
This is a need based Federal Student Loan for Undergraduate and Graduate Students. The Federal Government pays the interest on these loans during school, the grace period and any authorized deferment periods. Repayment begins after a drop in enrollment below part-time and following a six month grace period. The minimum monthly payment is $50.00. Early principal and interest payments can be made without forcing the loan into repayment.
Complete Parent PLUS Loan MPN
6.0% Undergraduate Subsidized
Dependent Undergraduates can get up to $3,500 in subsidized loans in year 1; $4,500 in subsidized loans in year 2; $5,500 in subsidized loans in years 3, 4, and 5. The maximum lifetime amount is $23,000. Those students whose parents qualify for a PLUS loan may qualify for an additional $2,000 in unsubsidized funds each year. The maximum lifetime amount is $31,000, no more than $23,000 of which can be subsidized.
Independent Undergraduates can get an additional $6,000 in unsubsidized loans in years 1 and 2; $7,000 in unsubsidized loans in years 3, 4, and 5. The maximum lifetime amount is $57,500, no more than $23,000 of which can be subsidized.
Graduate/Professionals can receive a maximum of $20,500 a year (no more than $8,500 can be subsidized). The maximum lifetime amount is $138,500, no more than $65,500 of which can be subsidized.
These amounts are based on a full-year program and include Subsidized and Unsubsidized Stafford Loans. Expect lower amounts if the program is less than a full year.
Steps to apply:
Step 1. Complete the FAFSA. (http://www.fafsa.ed.gov/)
This is the Free Application for Federal Student Aid and is required to be eligible to receive all types of aid, including student loans. You will need to have a FAFSA Personal Identification Number (PIN) (http://www.pin.ed.gov) to complete this process.
Step 2. Correct your SAR.
The Student Aid Report is a report you will receive containing the summary/results of your completed FAFSA. There is nothing to do if it is correct, however, if it is incorrect you will want to report your
changes as soon as possible.
Step 3. Complete an MPN
To speak with an agent regarding loans origination call 1-866-358-4537.
1403 23rd St
Plan your future. Visit these Web sites.
mapping-your-future.org - Detailed information about career planning, selecting a school, and paying for college.
studentaid.ed.gov - Detailed student aid and student loan information from the U.S. Department of Education.
fastweb.com - Scholarship information.
fafsa.ed.gov - Online application for financial aid (FAFSA).
pin.ed.gov - Apply for a PIN number to complete online FAFSA.
nslds.ed.gov - View the history of the federal student financial aid you have received.
loanlocator.org - Helps you keep track of your loans if you have more than one loan servicer. This site is useful when consolidating student loans.
For help with the student loan process, call the credit union at 915-592-0223.
Acrobat Reader is required to view these files.