NASA Federal Credit Union Student Loan Review
Explore about the reviews of Financial services NASA Federal Credit Union, their interest rates, terms, eligibility , application process.
Updated by Kirtika Acharya on 31st October 2021
Financial services NASA Federal Credit Union is headquartered in Upper Marlboro. The credit union was founded in the year 1949, providing services to more than 177,000 members around the country. NASA FCU offers services with great technology like providing online banking, a network of fee-free ATMs across the country, mortgage, auto loans, and credit cards. NASA Federal Credit Union Student Loan offers flexible access to student loan funding to borrowers with no origination fees, deferred monthly payments, and competitive interest rates. Many turn to NASA Federal Credit Union Student Loan as they provide competitive interest rates, flexible repayment terms with no additional origination fees added to it.
Table of contents:
- Nasa Federal Credit Union Student Loan Review
- Eligibility and Application process
- Repayment options and interest rate
Nasa federal credit union student loan review
Navy Federal Credit Union was found in 1949 having 177,000 members across the U.S. If you are out of options with federal and private loans you can consider Navy Federal Credit Union student loans. They offer both fixed and variable rate loans without any application fees or origination fees.
| Pros | Cons |
| Good interest rates (fixed) are provided that are comparatively better than other loans | May not always provide good forbearance repayment terms. Even after applying for co-signer release, it can take a long time, or in cases, a cosigner will not be released till the end of loan repayment |
| Application for loan etc is completely online and user-friendly | Hard credit check |
| No additional fees for schooling, the process of reapplication can be avoided, foreign transaction fees, no balance transfer fee | Since the loan duration can be long, you may end paying more money on interest |
| Can have a cosigner if needed | Must be a Nasa Federal Credit Union member |
NASA Federal Credit Union offers funds until your education is completed. In case you need more funds to complete your studies, you do not have to start the process of requesting funds all over again. Similar to other education loans, credit is based on the total cost of attendance for the school the student is attending or plans to attend.
Eligibility and application process
If you believe NASA Federal Credit Union Student Loan is a good choice to borrow loans, know the eligibility process and how to apply with them as specified below
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Must be a US citizen or permanent resident
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Must be a member of the Nasa Federal Credit Union without which student loans aren't offered
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Must be 18 years of age, and above
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The application process can be completed online through the NASA Federal Credit Union website
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A cosigner can be added to get better interest rates while the student is listed as the primary applicant
Adding a cosigner can sometimes help you receive loans with lower interest rates, application process requires you to be a member at NASA Federal Credit Union member you can log in with Account Number or Username and password to log in. You can understand the loan terms and interest rates that are applicable.
Worried about your college tuition? Find best student loans for you
Repayment options, interest rates, and loan terms
There are no pre-payment penalties imposed if students want to make payments during the deferment period or make a larger amount of payment than the minimum due on the loan once repayment begins.
All students who use the NASA credit union,(FCU) Student choice line of credit to finance their education have a deferred repayment schedule. While you are at school, there are no payment dues. Once the deferment period ends, repayment extends from 20 or 25 years. The Student Choice Loan program from NASA Federal Credit Union is a very unique student loan option for its borrowers.
Line of credit works as a flexible, that helps to avoid the reapplication process for funds every year. The online tool helps in the easy application process and calculation for the total amount required studies. Student borrowers enjoy a fixed interest rate, and a co-signer may be added to help strengthen an application.
But the borrowers must meet the membership requirements qualify, and without a co-signer, they may not be eligible based on personal credit history.
Interest rates: 6.17%
Repayment term: 20 or 25 years
Student Choice Loan of NASA FCU has a lower interest rate as compared to other fixed-rate student loan lenders like private lenders. Students can defer payment on the line of credit as long as they are attending school at least half-time. The maximum line of credit amount cannot exceed COA.
There may be other student loan solutions that offer less acrimonious qualification requirements. It’s important to compare private student loans to make sure the financing is the best fit for your financial circumstances in the future.
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