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College is an important step in your future. Your college education can help prepare you for your career as well as increase your earning potential.  But a college education can be expensive. According to the National Center for Education Statistics, the average tuition, including room & board, for one year of college at a 4-year public university is $12,108.  Attend a private university and your average tuition jumps to $27,317. These figures are scary, but we can help.  Chesterfield Federal Credit Union is proud to offer a variety of student loan options to assist our members in their higher education goals. 

Federal Student Loans

Federal Student Loans are guaranteed through the U.S. Department of Education, and our typically included in your financial aid package from your college or university. There are two types of federal student loans:

   ·     Stafford Loans

o        The subsidized Federal Stafford Loan is based on financial need. The government pays the interest while you are in school.

o        The unsubsidized Federal Stafford Loan is not based on need but family income is a determining factor. You pay all the interest, although you can have the payments deferred until after graduation.

   ·     PLUS (Parental Loan for Undergraduate Students) Loans

Creditworthy parents of dependent undergraduate students and graduate/professional students can apply for this loan, which is not based on need.  

Click here for more information on Federal Student Loans

Student Alternative Loans

A student alternative loan can supplement federal student loans, when federal loans, grants and other forms of financial aid are not sufficient to cover the full cost of higher education. They can also be used when a student does not qualify for federal student loans or additional financial aid. 

Click here for more information on Student Alternative Loans

Student Consolidation Loans

After you graduate, lock into a low fixed rate by consolidating your federal student loans, even if you only have one. 

Click here for more information about Student Consolidation Loans

Manage your finances
Chesterfield Federal Credit Union is committed to helping students learn to manage their finances. The regularly updated Personal Financial Management Resources provides information on anticipating college costs and staying in control of your finances while in school.

Additional sites of interest 
www.mapping-your-future.org - Detailed information about career planning, selecting a school, and paying for college.  
The Student Guide is a comprehensive resource on student financial aid from the U.S. Dept of Ed.
www.studentaid.ed.gov - Detailed student aid and student loan info from the U.S. Dept of Ed.
www.fastweb.com - Scholarship information.
www.fafsa.ed.gov - Online application for financial aid (FAFSA).
www.pin.ed.gov - Apply for a PIN number to complete online FAFSA.
www.mygreatlakes.com - Great Lakes Educational Loan Services, Inc. is the guaranty agency for your student loans. You can check the status of your student loans here.
www.nslds.ed.gov -  View the history of the federal student financial aid you have received.     


Need help?  
For help with the student loan process, call the credit union at 804-748-1417 or by e-mail at loans@chesterfieldfcu.net.

Chesterfield Federal Credit Union's Phishing Education Page