The cost of attendance at a college today – when you add tuition, room and board, books, supplies, technology, and student fees, often outpaces the resources of the average family. Even after using savings, scholarships, a 529 Plan, and even a Federally-subsidized student loan, many students and their parents still face a funding ‘gap’ that needs to be filled. And the gap becomes even worse if some of those resources just aren’t there, or the student wants to be part of a special program or study abroad.

The StudentAssist LOC (line-of-credit) from The United Methodist Credit Union can help you ‘fill in’ your gap in college funding.

With StudentAssist LOC, if eligible and approved, a student can access up to $10,000 each academic year (up to a maximum of $40,000 over the life of their program). The LOC can be used for graduate school or seminary as well.

And by the way, even if your plans don’t include college, StudentAssist LOC can be used for a trade or technical school.

Here’s a few more details:

First, the interest rates for StudentAssist are fixed.

Second, StudentAssist loan rates are really low:

5.95%* at a regional Methodist-affiliated college (click here to see eligible institutions)

or just 6.95%* (at all other colleges or programs)

 

Third, StudentAssist is simple. There is no FAFSA needed. The initial application can be accessed using the button below, and a decision will be made within five business days. Depending on your credit, a co-borrower may be required.

And fourth, StudentAssist is flexible as it operates as a line-of-credit – funds can be drawn when they’re needed (but never more than what’s needed). Funds can be used for many expenses that traditional student loans will not cover such as travel, off-campus housing, books, technology, and even study abroad. Repayment is deferred with no payments required during your entire time in school plus one year after you leave (though we recommend that you pay the interest while in school to make repayment easier).

*Interest Rates shown are for the 2024-2025 Academic Year

Do you have a Snaploan already with TUMCU?

If you have a Snaploan in place at TUMCU, the terms of your agreement remain the same. Additional details can be found, including the disbursement request form, at https://www.tumcu.org/snaploan/.

If you have any questions about your Snaploan balance, conversion, repayment, or anything else related to Snaploan, please give us a call at 866-657-0004.