Loan Details - Consolidation


A limited number of our partner credit unions also offer Private Consolidation solutions. Please verify that you have selected one of these programs and that you are eligible for membership.


Private Loan Consoldation


College graduates can pay once and for all by consolidating their private student loans! In partnership with Credit Union Student Choice, your credit union can deliver a consolidation loan that features a low, variable interest rate (as determined by the credit union), zero origination fees, and a 15-year repayment period.


Simplify your finances. Amplify your funds!

With a Student Choice private consolidation loan you'll eliminate the hassle of multiple private student loan payments and likely reduce your interest rate, saving you thousands over the life your loan.

  • Consolidate up to $100,000 in private student loans (maximum loan amount determined by each credit union)
  • Choose a graduated repayment option to enjoy lower initial monthly payments
  • Receive a 0.25% rate discount for automatic electronic payment. If your loan is subject to a floor rate (also known as a minimum interest rate) as specified in your promissory note, your rate will never be less than the floor rate.


Learn more below, or view our Frequently Asked Questions for additional loan details.


Who's eligible?
College graduates who are:

  • U.S. citizens or permanent residents and have graduated from an approved public or private not-for-profit school*
  • In repayment on one or more outstanding private student loans (post grace period**)
    • Outstanding federal student loans and school institutional loans are NOT eligible for this consolidation loan. For information on consolidating Federal student loans, click here.
  • Able to pass a credit check (A co-borrower may be necessary in order for you to meet credit criteria, and may also help you qualify for a lower rate.)
  • Eligible for credit union membership (you may apply without being a member of the credit union, but you will need to become a member in order for the loan to be funded.)

*Approved schools are subject to change.

**Private education loans must be in repayment to be eligible for consolidation.


Do I need a co-borrower?
A co-borrower is not required for a private consolidation loan. However, due to a minimum income requirement and credit criteria, having a co-borrower may help you be approved and/or attain a lower interest rate.


How much can I borrow?
Once approved, you can borrow from $5,000 up to $100,000 (as determined by each credit union offering this program). Make sure to review your existing loans carefully so that you borrow the exact amount you need. [Note: The amount of your consolidation loan will be based on existing loan balances as indicated by statements that you will need to provide as part of the loan application process. You may want to consult with your original loan providers to confirm the loan balances, thus ensuring that your consolidation loan is neither over- nor under-funded.]


What will be my rate?
You will be quoted a rate after your application has been submitted and reviewed. Please visit your credit union's Student Choice site to see current rates. Note: There is no obligation to take the loan once you apply. We encourage you to apply and evaluate your options before making a final decision.


How do I apply?
You can quickly and easily fina a credit union near you and apply online. As part of the loan application process, applicants will receive detailed instructions on additional documentation that must be submitted in order to complete the loan process. If you have questions, please check out our detailed Frequently Asked Questions page or call our student loan representatives. Each credit union's informaiton can be found on the Contact Us page.

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