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.
|Term||Rate||APR||Payment Example per $1,000||Alert Me|
|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.
|Amount||Term||APR||Payment Amount||# of Weekly Payments||Total of Payments||Alert Me|
Boston Firefighters Credit Union has introduced a NEW alternative student loan program that helps students fill the funding gaps that federal aid can leave behind.
Unlike other alternative loan products, The Boston Firefighters Credit Union Student Choice private loan solution offers:
Significantly lower rates
Zero origination fees
Flexible repayment terms, including:
Full payment deferment
Principal and Interest
To find out more about applying for a Boston Firefighters Credit Union Student Choice loan, visit www.bosfirecu.studentchoice.org
Or you can call Student Choice toll free at (866) 825-6587
This loan offers an alternative method of stretching tuition payments over the course of the school year at a relatively low cost.
|Payments are approximately $20.01 per week per $1,000. Rate reflects .50% discount for automatic payments from your BFCU account. Maximum borrowing amount is $15,000. Maximum term is 1 year. No pre-payment penalties.|
|Loan Amount||Term||APR||Payment Amount||# of Weekly Payments||Total of Payments||Alert Me|
Introducing the BFCU Professional Line of Credit
(for use with the PCIP Program)
At BFCU, we work hard to make sure our members have the tools they need to get the most out of their life opportunities.
|Rate||APR||Payment per $1,000||Alert Me|
|Based on 5 year amortization schedule||5.50%||5.50%||$4.41/week|
|Maximum borrowing amount is $25,000. Maximum advance is $7,500. 10 year loan based on a 5-year amortization schedule. Minimum payment will be calculated on a 5-year amortization schedule. Rate reflects .50% discount for payments made through payroll deduction. APR = Annual Percentage Rate. Variable rate APR is subject to change without notice. Maximum APR is 10.00%. No pre-payment penalties. Subject to credit approval. Borrow must provide a bill or a receipt from school before advances are made. The annual percentage rate is based on the value of an index. The index is the prime rate +1 published in the Money Rates column of the Wall Street Journal. When a range of rates has been published, the higher rate will be used. We will use the most recent index value available to us as of 1 day before the date of the monthly percentage rate adjustment.|
|Loan Amount||APR||Weekly Payment||# of Weekly Payments||Total of Payments||Alert Me|
|$25,000||Based on 5 year amortization schedule||5.50%||$110.01||260||$28,601.88|