Paying for college is never easy. For a long time, many of our members have taken advantage of the value of their homes to obtain a low rate Home Equity Line of Credit as a solution to their tuition expenses. Although that remains a viable option for many, BFCU has also created an alternative solution through its College Tuition Loan. This loan offers long term fixed rate financing for qualified members who are faced with today’s rising tuition costs and may not have the necessary equity available in their home. This loan may be rewritten annually subject to maximum limitations.
College Tuition Loan
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| Term | Rate | APR | Payment Example per $1,000 |
| 10 Years | 6.99% | 6.99% | $2.68/Week |
| Rate reflects .50% discount for automatic payments from your BFCU account. Maximum borrowing amount is $40,000. Maximum term is 10 years. No pre-payment penalties. This loan may be refinanced annually to properly meet your tuition needs. Because this is an unsecured loan, certain underwriting restrictions may apply. |
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College Tuition Loan Payment Example |
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| Amount | Term | APR | Payment Amount | # of Weekly Payments | Total of Payments |
| $30,000 | 10 Years | 6.99% | $80.16 | 520 | $41,679.69 |
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