Student Loan

C1^st Student Loans

Community 1^st Credit Union offers supplemental private student loans to help you meet the cost of college.  This private student loan is designed to supplement — not replace — federal, state and institutional financial aid to cover your expenses. It is available to students attending any eligible college or university provided all other eligibility requirements are met.

Community 1^st Credit Union requests that you and your parents work with financial aid professionals at your respective college or university to ensure that you have first applied for all applicable forms of federal, state and institutional financial aid for which you are eligible, including federal student loans, prior to obtaining a private student loan. Accepting a private loan before utilizing other types of aid available may decrease your eligibility for federal, state and institutional aid.

• Transparent interest rates. No “as low as” pricing
• Cosigner and no-cosigner options
• Several repayment plans once you do begin repayment to best fit your financial situation

Cosigner Loan Option

• If you or your cosigner(s) meet the underwriting eligibility, you may qualify for a lower interest rate and origination fee by applying for one of the cosigner loans (options 1 and 2). A lower interest rate can help you pay less money over the life of the loan.

No-Cosigner Loan Option

• If you don’t have a creditworthy cosigner, you may qualify for the no-cosigner loan (option 2). This loan option has a higher interest rate and origination fee than the cosigner option.

Applying for C1^st Student Loans

• Community 1^st Credit Unions members can apply online for a private student loan. If you are not a member of Community 1^st Credit Union you will need to become a member to qualify for the loan program. The loan servicer, Iowa Student Loan®, will handle the processing and approval of your C1^st Student Loan application.

Complete the FAFSA First

The first step in applying for financial aid, which includes federal student loans, is completing the Free Application for Federal Student Aid (FAFSA). The FAFSA is a free form provided by the U.S. Department of Education that may be completed without professional assistance via paper application or online at www.fafsa.gov.

In your award letter from your college, the financial aid office will inform you of your eligibility for federal student loans.

Additional College Planning Assistance

If you are looking for information on planning for, applying to, paying for and succeeding in college, Community 1^st Credit Union recommends the Iowa College Access Network® (ICAN). ICAN offers free services, including assistance with completing the FAFSA, to students and their families. Visit www.ICANsucceed.org or call (877) 272-4692 for more information about ICAN.

Compare rates, fees, terms and other loan information.

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General Guidelines for C1^st Student Loans ~ All applicants must:

• Be a member.  If you're not a member, a C1st Representative will contact you to help you become a member after your loan is approved.  
• Note: Once Community 1^st Credit Union receives the loan application, applicants have 30 days to finalize membership with the credit union.
• Be of majority age pursuant to applicable law at the time of application or be an emancipated minor.
• Not have defaulted on any private or government student loan.
• Be attending any nonprofit, Title IV eligible, degree-granting, regionally accredited college or university or nonprofit school of nursing.
• Be accepted, enrolled or attending on at least a half-time basis, as defined by the school, and be making satisfactory academic progress in an eligible education program.
• Be a citizen or permanent resident of the United States.
• Cosigner(s) must be citizens of the United States.