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Stafford Alternative Parent PLUS Graduate PLUS Consolidation

Alternative Student Loans

When federal student loans are not enough, get an Alternative Student Loan. Borrow up to the cost of education, minus other financial aid received, to achieve your educational goals.

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Students Save

  • No Origination Fee
  • No Repayment Fee
  • No Insurance Fee
  • Save 0.25% on the rate with automatic payments
  • Better rate when you have a good credit score
Extra Benefit: Cosigner release option after 36 consecutive, on-time payments!

Students Benefit

  • Borrow up to $20,000 annually; $100,000 total
  • Option to make interest-only payments in first 2 years of repayment
  • Take up to 12 years to repay
  • Cosigner release option after 36 consecutive, on-time payments
  • Deferred payments while in school
  • 6-month grace period before repayment begins
  • 10-day grace period after payment due date

Interest Rate

Your interest rate will be based on your, or your cosigner's, credit worthiness. There are three credit tiers.

Tier 13-month LIBOR + 2.75%
Tier 23-month LIBOR + 4.25%
Tier 33-month LIBOR + 5.25%

This is a variable rate that can change quarterly.
Current rate | Current LIBOR chart

Eligibility

  • Age 18 or older
  • Enrolled at least half-time
  • Attend a UW System school or Edgewood College1
  • A satisfactory credit score
  • At least 2 years of credit history
  • Income sufficient to make payments
  • U.S. citizenship or Permanent Alien status OR a cosigner that meets these conditions.

Disbursement & Repayment

After your application is approved, your school will certify the amount you're eligible to receive and disburse your funds to you, along with disclosures. Interest accrues upon disbursement; repayment begins when the grace period ends. (Grace is the six-month period after leaving school or dropping below half-time status.)

1Participating Schools

If you are attending another school, please contact your school's financial aid office.

  • Edgewood College
  • UW Madison
  • UW Milwaukee
  • UW Colleges - Baraboo
  • UW Colleges - Barron County
  • UW Colleges - Fond Du Lac
  • UW Colleges - Fox Valley
  • UW Colleges - Manitowoc
  • UW Colleges - Marathon
  • UW Colleges - Marshfield
  • UW Colleges - Marinette
  • UW Colleges - Richland Center
  • UW Colleges - Rock County
  • UW Colleges - Sheboygan
  • UW Colleges - Washington City
  • UW Colleges - Waukesha
  • UW Colleges Online
  • UW Green Bay
  • UW Stout
  • UW Eau Claire
  • UW La Crosse
  • UW Oshkosh
  • UW Platteville
  • UW River Falls
  • UW Stevens Point
  • UW Superior
  • UW Whitewater
  • UW Parkside
  • UW Medical School
 
Go
Lender Name:
UW Credit Union
Lender Code:
818611 (Stafford/PLUS)
878611 (Consolidation)
Lender Address:
3500 University Ave.
Madison WI 53705
 
*Room makeover valid with Campus Package services. Not necessary to open an account to win. To enter, send a 3 x 5 card with name, address, city, state, ZIP, email and daytime phone to: 'Registration Sweepstakes,' UW Credit Union, PO Box 44963, Madison, WI 53744-4963. New accounts opened online and mailed entries have an equal chance of winning. Submission deadline 8/20/08 with drawing held 8/22/08 at UW Credit Union. Winner notified by phone or mail. By law, this prize must be reported for tax purposes. Employees and their family members are not eligible to win.