Lending Services

Student Loans

Ascentra Credit Union

Private Student Loan Program

Although financing your education may seem overwhelming at times, many types of financial aid are available. Ascentra Credit Union offers supplemental private student loans to help you meet the cost of college.

Ascentra Credit Union’s private loan features:

Transparent interest rates. No "as low as" pricing.
Deferred repayment. No payments are due while you are enrolled at least half time and for six months after you graduate, leave school or drop below half-time enrollment.
Cosigner and no-cosigner options.
Several payment plans once you do begin repayment to best fit your financial situation.

Cosigner Loan Option

If you or your cosigner(s) meet the underwriting eligibility, you may qualify for a lower interest rate and origination fee by applying for the cosigner loan (option 1). A lower interest rate will save you money over the life of the loan.

No-Cosigner Loan Option

If you don’t have a creditworthy cosigner, you may qualify for the no-cosigner loan (option 2). This loan option has a higher interest rate and origination fee than the cosigner option.

Applying for Ascentra Credit Union Private Student Loan

Ascentra Credit Union members can apply online for a private student loan. If you are not a member of Ascentra Credit Union you first must become a member prior to applying for the loan. The loan servicer, Iowa Student Loan®, will handle the processing and approval of your Ascentra Credit Union private student loan application.

For more information or questions, contact our servicer, Iowa Student Loan at (800) 542-6005.

For rates and fee information, click here.

Ascentra Credit Union Private Student Loan Program

This private student loan is designed to supplement - not replace - federal, state and institutional financial aid to cover your expenses. It is available to students attending any eligible college or university provided all other eligibility requirements are met.

Ascentra Credit Union requests that you and your parents work with financial aid professionals at your respective college or university to ensure that you have first applied for all applicable forms of federal, state and institutional financial aid for which you are eligible, including federal student loans, prior to obtaining a private student loan. Accepting a private loan before utilizing other types of aid available may decrease your eligibility for federal, state and institutional aid.

General Guidelines for Ascentra Credit Union Private Student Loan Program

All applicants must:

Be a member of Ascentra Credit Union.
Be the age of majority in your state of residence at the time of application.
Not have defaulted on any private or government education loan.
Be attending any nonprofit, Title IV eligible, degree-granting, regionally accredited college or university or nonprofit school of nursing.
Be accepted, enrolled or attending on at least a half-time basis, as defined by the school, and making satisfactory academic progress in an eligible education program.
Be a citizen or permanent resident of the United States, Cosigner(s) must be citizens of the United States.

Complete the FAFSA First

The first step in applying for financial aid, which includes federal student loans, is completing the Free Application for Federal Student Aid (FAFSA). The FAFSA and EZ FAFSA are free forms provided by the U.S. Department of Education that may be completed without professional assistance via paper application or online at www.fafsa.gov.

In your award letter from your college, the financial aid office will inform you of your eligibility for federal student loans

Additional College Planning Assistance

If you are looking for information on planning for, paying for and succeeding in college, Ascentra Credit Union recommends the Iowa College Access Network® (ICAN). ICAN offers free services, including assistance with completing the FAFSA, to students and their families. Visit www.ICANsucceed.org or call (877) CPC-Iowa for more information about ICAN.