Help finance your child’s undergraduate education.
The HUECU Family Student Loan allows family members to help students cover education-related expenses.
||Covered costs include:
Explore why this is a better alternative to the Federal Direct Plus Loan
|HUECU Family Loan||Federal Parent PLUS Loan|
|15 Year Variable||Prime +1.00% to Prime +4.50%||n/a|
|15 Year Hybrid||5 years fixed at 5.50% to 9.00%
10 years variable (Prime +1.00% to Prime +5.50%)
|FAFSA||Not required, but encouraged.||Required.|
How much can I borrow with a HUECU Family Student Loan?
You may borrow up to $25,000 per academic year, or $100,000 in total.
Can the HUECU Family Student Loan pay for the student’s books and personal expenses while in school?
The Family Student Loan can be used to help pay for indirect costs while the student is enrolled in school. A student can borrow up to the Cost of Attendance, which is determined by the financial aid office.
How do I apply for a HUECU Family Student Loan?
All you need to do is fill out the quick and easy online application. Before you apply, make sure you have the following items available so you can easily complete your application:
• Name, address, phone number, email address
• Date of birth
• Social Security Number
• Recent pay stub (no more than 60 days old) or other proof of income and
monthly housing payment.
• Name of school the student plans to attend
• Student’s Name, Date of Birth and Social Security Number
• Cost of attendance and any financial aid received (see award letter from
• Student Graduation date, loan period and the loan amount.
What kind of credit is required for the HUECU Family Student Loan?
We will need to see a reasonably strong credit history, which is derived from your credit score.
What if I am not approved for the HUECU Family Student Loan?
If you apply for private parent loans for college and are denied, it may be due to your credit history. Speak to your financial aid office about the Federal Direct PLUS loan or consider getting a co-signer for the HUECU Student Loan.
Are there any penalties for paying off the HUECU Family Student Loan early?
There are no prepayment penalties.