Compare Loan Options

There are a variety of ways to pay for college. Explore some of the most popular options below to help decide what's right for your family.

UWCU Family Student Loan

Loan Details

UWCU Home Equity Loan or Line of Credit

Loan Details

Federal Direct PLUS Loan

Loan Details

At a Glance

Fixed- or variable-rate loan that a family member borrows on behalf of the student.

Fixed- or variable-rate loan or line of credit where a homeowner borrows from their home equity.

Fixed-rate loan offered by the government to parents and graduate students.

Maximum Term

15 years*

15 years

10 years

Minimum Loan Amount

$1,000

$5,000

None

Maximum Loan Amount

$15,000 per school year

Available home equity

Cost of attendance

Type of Borrower

Credit-worthy person

Homeowner

Parent

Fees

No hidden fees, annual fees or prepayment penalties.

No annual fees, no prepayment penalties, or no or low closing costs1

A 4.228% fee is incurred for each disbursement after October 1, 2020.

Cosigner Needed

Sometimes (36-mo. release)

None

Rarely

Payment Deferrals

None

None

6 months (by request)

Reduced Payments

Up to 6 months of forbearance and up to 6 months of interest-only payments upon request

Up to 15 years interest only for lines of credit

Many options

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Private Student Loans

See how our student loan options for undergraduate and graduate students compare to family loans.

Compare student loans >

 

Home Equity Line or Loan

Explore all the ways to tap into your built-up home equity and find your best way to borrow.

View home equity options >

 

More Student Resources

Check out helpful financial tips and resources to make the college years a success for students and parents.

Browse the financial guide >