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Student Loans

Get the money you need to help make higher education happen
Student loans from Schneider Community Credit Union in partnership with Sallie Mae® could help!

Whether you’re an undergraduate student, graduate student, or parent helping a student pay
for school, these flexible loans are designed to meet your needs:
– Competitive variable and fixed interest rate
– No origination fee or prepayment penalty1
– Multiple repayment options

Learn which loan is right for you

Undergraduate
Smart Option Student Loan® for Undergraduate Students
Pay for your bachelor’s, associate’s, or certificate expenses at a degree-granting school

Graduate
Graduate School Loan
Pay for expenses as you pursue your master’s and doctoral degrees

MBA Loan
Pay for your business school expenses as you pursue your Masters of Business Administration
degree

Medical School Loan
Pay for your medical degree expenses in allopathic, general, osteopathic, pediatric, radiology,
sports, and veterinary medicine

Dental School Loan
Pay for your dental degree expenses in general dentistry, endodontics, oral and maxillofacial
surgery, orthodontics, pediatric dentistry, periodontics, and prosthodontics

Graduate School Loan for Health Professions
Pay for your health professions degree expenses in allied health, nursing, pharmacy, and other
graduate-level health programs

Law School Loan
Pay for your school and associated expenses as you study for your law degree

Parents
Parent Loan
Help your student by taking responsibility with a loan in your name

Learn which loan is right for you

Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for
college. Students and families should evaluate all anticipated monthly loan payments, and how much the student
expects to earn in the future, before considering a private student loan.

These loans are made by Sallie Mae Bank or a lender partner. Schneider Community Credit Union is not the creditor for these
loans and is compensated by Sallie Mae for the referral of loan customers.

Smart Option Student Loan and graduate loan products: This information is for students attending participating
degree-granting schools. Smart Option Student Loan information is for undergraduates only. Graduate
Certificate/Continuing Education coursework is not eligible for MBA, Medical, Dental, and Law School Loans.
Borrowers must be U.S. citizens or U.S. permanent residents if the school is located outside of the United States.
Non-U.S. citizen borrowers who reside in the U.S. are eligible with a creditworthy cosigner (who must be a U.S.
citizen or U.S. permanent resident) and are required to provide an unexpired government-issued photo ID to verify
identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other
eligibility criteria apply.

Parent Loan: This loan must be used to pay for eligible student expenses at participating degree-granting schools.
The student cannot be a borrower or cosigner and is not responsible for repaying the loan. The borrower, cosigner,
and student must be U.S. citizens or U.S. permanent residents. If the school issues a refund directly to the student,
the borrower and cosigner (if applicable) are still responsible for repaying that amount. Applications are subject to
a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

1 Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined
in your promissory note—first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME
WITHOUT NOTICE.

© 2020 Sallie Mae Bank. All rights reserved. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos
are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the
trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae
Bank, are not sponsored by or agencies of the United Sta

Benefits of having a loan at Schneider Community Credit Union:

  • Interest on all loans is calculated on the unpaid monthly balance called “Simple Interest”.
  • Convenient pre-approval of loans.
  • Payment plans to fit your budget.
  • No penalties for early repayment. Pay additional amounts on your loan anytime and you’ll shorten the life of the loan and pay less interest.
  • You can make loan payments through payroll deduction, in person, direct deposit, automatic transfers, mail, phone, and online banking at www.schneiderccu.com
  • Financial counseling services available.

Loan Related Services

Gap Protection

New and newer used vehicles often depreciate quickly and vehicle loans are typically getting longer in terms.  There may be a point where you owe more than your vehicle is worth. At that point GAP insurance is a way to protect your auto loan. Many times when a car is declared a “total loss” after being stolen or totaled in an accident or natural disaster GAP will help cancel the difference between the primary insurance settlement and what you may still owe.

Credit Insurance

Schneider Community Credit Union offers its members Payment Protection credit life and credit disability insurance through American National Insurance Co. Credit life insurance pays the outstanding balance on your loan if you die before the loan is paid off.  Credit disability insurance provides funds to help you make your loan payments if you are unable to work because of an illness or accident.

Most members are eligible to apply for credit life and credit disability insurance. Coverage is available for single or joint borrowers, at affordable rates, and premiums are automatically added to your loan payment. Protect yourself and your family from the burden that could result if you die or become disabled.  Payment Protection offers the peace of mind that comes from knowing your financial obligations will be met. Visit with our lending department for details on Payment Protection credit life and credit disability insurance.

Vehicle Service Contracts

In addition to offering new, used, and refinanced auto loans, we also offer Extended Vehicle Service Contracts through Vision Warranty Corporation for your auto, truck, or van. Get peace of mind and protection against expensive, unexpected automotive repair costs when you purchase an Extended Vehicle Service Contract.

Buy an Extended Vehicle Service Contract for less than the cost at most dealerships and enjoy:

  • Coverage of most major components in the event of a breakdown
  • No-hassle Direct Payment: no reimbursement forms
  • A one-time premium that may be financed along with your vehicle

Put the brakes on expensive car repairs. A factory warranty may not be enough. Most major repairs occur after the manufacturer’s warranty expires. Consider adding an extended vehicle service contract to your loan. Coverage obtained through the Credit Union may save you money when compared to dealer plans.