Student and Other Loans
Before you Borrow…Don't forget our scholarship program!
Two Harbors Federal Credit Union is now taking applications for our 2019 scholarship, to be awarded Spring 2019 for use during the 2019-20 school year. Apply for one of four awards, each for $1,000. Two scholarships are available for high school seniors pursuing post-high school education. Two more scholarships are available for other students - those already in college/trade school, or those who are returning to school to further their education. Be sure to complete and submit your application online.
Smart Option Student Loan®Now you can pay for college the smart way. The flexibility of a Smart Option Student Loan is an ideal solution for students who still need financing after maximizing grants, scholarships, and federal student loans. The Smart Option is fully originated, disbursed and serviced by Sallie Mae®, our partner in offering better student loan options to members.
- Competitive Interest Rates
- 3 Repayment Options
- No Origination Fees
Learn more about the Smart Option Student Loan.
Important! Change to the Federal Student Lending Process:With the recently enacted Health Care and Education Affordability Reconciliation Act of 2010, the Federal Family Educational Loan (FFEL) Program has been eliminated. Private lenders such as THFCU, no longer have a role in originating or funding federal Stafford, PLUS or Consolidation Loans.
Federal Direct Student LoansAll new federal student loans will be issued via the William D. Ford Direct Loan Program. The lender for federal loans will be the U.S. Department of Education rather than Your Credit Union or other financial institutions.
Consolidations LoansYou may have the opportunity to consolidate your existing loans through the Federal Direct Loan Consolidation Loan Program. Visit the Department of Education Consolidation Loan website
Direct Lending Borrowing AidsAlthough THFCU will no longer be funding federal student loans, we would like to continue to assist you in whatever way we can. See one of our staff for more information on what financial aids we offer to students.
For Information on Existing LoansFor questions or services related to an existing FFEL secured through THFCU, contact us at (218) 834-2266.
For questions regarding who holds or services your existing federal student loan, please access the National Student Loan Database, a Department of Education central database for student aid.
Click Go there to view our current loan rates.