The “Variable Rate” Rate is equal to the Current Index plus a Margin. The “Current Index” for any calendar quarter beginning on a Change Date (or for any shorter period beginning on any Disbursement Date and ending on the last day of a calendar quarter) is based on the U.S. Prime Interest rate (“Prime”) as published on Money Rates section of The Wall Street Journal (Eastern Edition). The Variable Rate will change quarterly on the first day of each January, April, July and October if the Current Index changes. *FICO score based on Experian.
VISA Debit/ATM/Credit Card
Attention NYUFCU Members: VISA and Debit Card Users.
Please make sure you inform your credit union of your plans so we may put a Travel Alert on your Debit/ATM card or VISA credit card. You can call us at 212-995-3171or email at nyu.fcu@nyu.edu.
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Car Loan Rates
Exclusively servicing the New York University Community. You can count on us!
The “Emergency Economic Stabilization Act”, signed into law on October 3rd, Federal Share Insurance at your Credit Union has increased from $100, 000.00 to $250,000.00 for individual accounts.
TheNew York University FCU Private Educational Loans for Undergraduate and Graduate Students
The New York University Federal Credit Union (NYUFCU) is a federally chartered savings and loan cooperative solely owned and operated by its membership. Savings accounts are insured by the federal government up to the same amounts as any commercial bank.
Because New YorkUniversity is the sponsoring organization of the New York University Federal Credit Union, the NYUFCU’s field of membership is limited to individuals who are connected to New YorkUniversity (such as students or employees and their immediate families). However, New YorkUniversity and the NYUFCU are not otherwise affiliated and the NYUFCU acts independently from New YorkUniversity.
As you determine the best way to finance your education, you should consider the full range of student financial aid options available to you. Private loans are often used to supplement federal student loans, when federal loans are not sufficient to cover the full cost of education.
If you have any questions regarding our Private Student Loans please contact us at 800-260-4602. Also please check our Frequently Asked Questions below.
If you don’t qualify for a Federal Education Loan or for enough financial aid to cover all your education related expenses, the New York University FCU Private Educational Loan may be for you.
The “Variable Rate” Rate is equal to the Index plus the Margin. The “Index” for any calendar quarter beginning on a Change Date (or for any shorter period beginning on any Disbursement Date and ending on the last day of a calendar quarter) is based on the U.S. Prime Interest rate (“Prime”) as published on Money Rates section of The Wall Street Journal (Eastern Edition). The Variable Rate will change quarterly on the first day of each January, April, July and October if the Index changes. Rates do not include automatic payment reduction. *FICO score based on Experian.
Benefits
Fully disclosed interest rates and fees before you apply.
Easy, No Hassle application process.
No application fees or other out of pocket fees.
Preliminary approval in as little as 1 minute when applying by web.
Competitive interest rates tied to Prime.
Good Student Discounts available.
Upon approval, funding can be scheduled after we receive all required documents.
Up to 5 year draw period, 20 years repayment terms.
Deferred payment options available.
Get an interest rate reduction of 0.25% after setting up automatic electronic payments from a NYU Federal Credit Union checking account with direct deposit.
Qualification Requirements
At least half-time enrollment in a degree program.
You must have proof of a current positive income
2 most recent pay stubs and previous years Tax Return, or last year's W-2, previous years Tax Return and the last 3 months of bank statements for self employed.
Origination fees deducted from loan proceeds.
You must be a U.S. citizen or permanent resident and have resided in the U.S. for the previous two years
You must have resided at your most current and immediately preceding addresses for a total of at least two years.
You must be a member of NYU Federal Credit Union. Co-borrowers also must join the NYU Credit Union.
International Students: Currently the NYU Federal Credit Union doesn’t offer loans to international students.
Most full-time students need a creditworthy co-borrower to qualify. You may borrow a minimum of $1,000 and up to $30,000 annually - the cost of attendance minus other aid as certified by the New York University. The aggregate private student loan limit is $100,000 per student. The NYU Federal Credit Union Private Educational Loan Program rates are variable and subject to change quarterly.
Representatives are available Monday-Friday 9am-5pm EST. The NYU Federal Credit Union will be open on Sunday, August 30, 2009 "Move-In-Day" from 9am-5pm. If you have any questions please call us at (800)260-4602. We will return your call promptly within 24 hours.
Parents—Help your student start building a strong credit history.
Became a co-borrower on your student's NYU FCU Private Educational Loan today!
Undergraduate borrowers may choose to defer repayment until six months after graduation or ceasing to be enrolled at least half time in New York University.
The 0.25% interest rate reduction is available for borrowers who elect to have monthly principal and interest payments transferred electronically from a NYU FCU checking account with direct deposit. The interest rate reduction will begin when automatic payments start, and will remain in effect as long as automatic payments continue without interruption. The reduced interest rate will return to contract rate if automatic payments or direct deposits are cancelled, rejected or returned for any reason.
Good Student Discount provides an interest rate reduction for the following: Graduate w/GPA of 3.0-3.49, reduction in interest rate of .25% at time of repayment Graduate w/GPA of 3.5 - 4.0, reduction in interest rate of .5% at time of repayment
All disbursements made payable to New York University.
Maximum interest rate ceiling of 18%, floor of 5.75%.
