Saturday, January 19, 2008

Student Loan Information

College costs are on the rise, averaging a 5% increase every year. Shoreline Credit Union can help you finance your college education today! We offerSubsidized and Unsubsidized Stafford Loans. Parents can also borrow for their child's education under the PLUS (Parent Loan for Undergraduate Students) Loan.

All loans are guaranteed by Great Lakes Educational Loan Services Corporation. Great Lakes can be reached at 1-800-236-6600 or online at Click on "Borrower" and Login at the mygreatlakes site. If you are a new user then click on "Register" and follow the instructions. You will need to access the 'IBIS - Borrower Inquiry' to get information on your loan.

Lender Code: 829246 - Not just another number! 829246 is our Student Loan Lender Code. By entering this code number on your loan applications and promissory notes, the source of your student funding will be Shoreline Credit Union. Be sure to give this number to your school's financial aid office as well.

Why Shoreline Credit Union for Your Student Loan?

  • Low interest rates
  • Fast loan approval and turnaround
  • Available to all students attending either full or part time
  • Payments are deferred until six months after you are out of school
  • A choice of repayment plans to suit your budget - including 1 convenient monthly payment for all your Shoreline Credit Union student loans
  • Our friendly and experienced loan team will answer your questions and help you through the financial aid process

Starting the Application Process

Follow these helpful links to forms and instructions to begin the loan process:

  1. Start by reading the Student Loan Quick Reference Guide (PDF).
  2. Complete the FAFSA form (Free Application for Federal Student Aid). This must be done prior to applying for any student loans. You can fill it out and submit it online by clicking on "Filling Out a FAFSA" at
  3. Fill out the Stafford Loan Master Promissory Note (PDF). The MPN will be used for all of your loans over multiple academic years at the same school. Complete the online form, print, and mail to Shoreline Credit Union.
  4. Fill out the PLUS Loan Application (PDF). The PLUS Loan allows parents to borrow for dependent children. Complete the online form, print, and mail to Shoreline Credit Union at: PO Box 27, Two Rivers, WI 54241-0027.

Repayment Options

  • Regular Payment Plan (10 year amortization or $50 each month minimum payment)
  • Graduated Payment Plan
  • Income-Sensitive Plan
  • Consolidation Loan

Make the Smart Choice - Come to Shoreline Credit Union for Student Loans

In addition, we have a number of products and services designed to help every student make a smooth transition to financial independence. Online Banking & Bill Pay and SAIL - students can keep in touch with their accounts using a computer or telephone. Checking Account - every student needs one! No minimum balance and no monthly fee. VISA® Check Card - make purchases everywhere VISA® is accepted, and make cash withdrawals from ATMs worldwide. MasterCard® - reasonable limits make it easy to cover necessities and emergencies. Plus, students can begin to build a credit history.

Shoreline Credit Union Now Offers Student Loan Consolidation

You can save up to 50% on your monthly student loan payments by combining education loans from multiple lenders into a single loan with one lower monthly payment and a fixed interest rate. Loans being consolidated must total at least $5,000 and must be in the grace or repayment period. Your extended repayment period will be determined by the total loan balance consolidated. In addition, students who could only obtain their Stafford loans under the William D. Ford Direct Loan Program can NOW choose Shoreline Credit Union for their consolidation loan. For a consolidation packet, contact us at (920) 793-4541 or email us at

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