Great Lakes Credit Union Student Loans Review

Great Lakes Credit Union Student Loans is offered by Great Lakes Credit Union, a credit union founded in 1938 and based in Bannockburn, IL. Great Lakes Credit Union Student Loans is offered in 2 states across the USA.

What rates does Great Lakes Credit Union Student Loans offer for in-school private student loan?

Great Lakes Credit Union Student Loans has a variable APR that ranges from 4.39% up to 10.51%.

Many students have little or no credit history when they start college. By having a parent or other creditworthy individual cosign the loan, the student may improve their chance of approval or qualify for lower interest rates.

How much can you borrow from Great Lakes Credit Union Student Loans?

Available loan amounts may vary by applicant but Great Lakes Credit Union Student Loans has a minimum loan amount of $2.5K and offers loans up to $150K.

Does Great Lakes Credit Union Student Loans charge an origination fee?

No, Great Lakes Credit Union Student Loans does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees..

Does Great Lakes Credit Union Student Loans charge prepayment fees?

No, Great Lakes Credit Union Student Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

What terms does Great Lakes Credit Union Student Loans offer?

Great Lakes Credit Union Student Loans provides repayment terms ranging from 5 to 20 years.

Great Lakes Credit Union Student Loans offers borrowers unemployment protection. This means that if you lose your job -- or you have just finished school -- your loan payments are placed on a temporary hold.

What type of borrowers will Great Lakes Credit Union Student Loans consider?

Great Lakes Credit Union Student Loans considers loans applications from:

• undergraduate students
• graduate students

What do you need to qualify for Great Lakes Credit Union Student Loans?

Applicants with a credit score of at least 660 and up to 850 are eligible for Great Lakes Credit Union Student Loans.

Great Lakes Credit Union Student Loans does not have or does not disclose a minimum annual income eligibility requirement. Great Lakes Credit Union Student Loans only considers borrowers who are employed. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

Only U.S. citizens and permanent residents can apply for a loan.

To qualify, applicants may need to provide the following documentation:

• Proof of income
• Driver's license
• Proof of identity
• Proof of citizenship or residence permit