Student Loans

“Make College a Reality: Get Your Student Loans with help from Your Community Credit Union!”

Wherever you are in your higher education, get the money you need for school. Student loans from East River Federal Credit Union in partnership with Sallie Mae® could help! For borrowers attending or borrowing for a student attending a degree-granting institution
 

  • Competitive interest rates
  • Multiple repayment options
  • No origination fees; no prepayment penalty1

Smart Option Student Loan® for Undergraduate Students

For bachelor’s and associate’s degrees or a certificate at a degree-granting school

Parent Loan

Help your student by taking responsibility with a loan in your name

Graduate loan suite designed to meet the needs of students in specific fields of study.
 

​Find out 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. East River Federal 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 information is for borrowers with students attending participating degree-granting schools. The student is not eligible to be a borrower or cosigner. The borrower, cosigner and student must be U.S. citizens or U.S. permanent residents. The school may refund loan funds directly to the student, and if that occurs, borrower, and cosigner (if applicable) would still be 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 you a penalty or fee if you prepay your loan, any prepayment will be applied as provided 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.

© 2019 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 States of America.

East River Federal Credit Union offers two (2) $1000 and two (2) $500 Educational Scholarships annually.  Scholarships are awarded to one (1) Madison High School graduating senior and three (3) graduating seniors or currently enrolled full-time college, university, or vocational students who are members of East River Federal Credit Union. To learn more about eligibility, selection, and how to apply, click here or call (605) 256-8145 or (800) 667-6039.