Student and Other Loans
Student Loans
Before you Borrow…Don't forget our scholarship program!
THFCU members are eligible for one of four $1,000 scholarships.Learn more and apply on our IN THE COMMUNITY pageGET MONEY FOR SCHOOL FROM SALLIE MAE®
Whether you’re an undergraduate or graduate student, student loans from THFCU in partnership with Sallie Mae® could help!Sallie Mae® higher education loans are designed for the needs of undergraduate and graduate students.
- Competitive interest rates
- Multiple repayment options
- No origination fees; no prepayment penalty*
Find out which loan is right for you – Visit the Sallie Mae site here.
Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.
These loans are made by Sallie Mae Bank or a lender partner. Two Harbors Federal Credit Union is not the creditor for these loans and is compensated by Sallie Mae for the referral of loan customers.
Smart Option Student Loan and graduate loan products: These loans are for students at participating degree-granting schools. Smart Option Student Loan information is for undergraduates only. Graduate Certificate/Continuing Education coursework is not eligible for MBA, Medical, Dental, and Law School Loans. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend a participating school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and provide an unexpired government-issued photo ID to verify their identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.
*Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note—first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.
© 2025 Sallie Mae Bank. All rights reserved. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae
Federal Direct Student Loans
All 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.CONSOLIDATION LOANS
You may have the opportunity to consolidate your existing loans through the Federal Direct Loan Consolidation Loan Program. Visit the Department of Education Consolidation Loan websiteDirect Lending Borrowing Aids
Although 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 Loans
For questions related to an existing Federal Family Educational Loan (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.
FLEX CASH
You don’t always need a safety net, but it’s nice to know it’s there. Flex Cash is a line of credit attached to your THFCU checking account that advances automatically in the event you overdraw your account. Flex Cash covers the transaction with just enough to take your account to a zero balance. Then, you can pay off your credit line in installments and at a much more relaxed pace, per the terms of the loan agreement. With Flex Cash, odds are you’ll never pay another Non-Sufficient Funds fee again.
If you know you’ve overspent, you don’t have to wait for Flex Cash to automatically advance. You can also access the credit line directly, transferring funds to your checking or savings account in increments of $100. Funds can be transferred with a quick phone call or anytime using our digital banking service
Ready for the added flexibility of Flex Cash? Apply here or give us a call and we’ll get you started
