Get Your Student Loan from Sweet Home Federal Credit Union
Lender Code: 832255
You know the value of a college education.
College graduates make an average of one million dollars more than those without college degrees (www.studentloanfacts.org). But, because the cost of a university, technical college, other specialized training can be overwhelming, Sweet Home Federal Credit Union offers Federal Family Education Loan Program (FFELP) loans that can help you with the funding you need to pursue your dreams.

FFELP offers loans for students and parents.

• Stafford Loans
  • The subsidized Federal Stafford Loan is based on financial need. The government pays the interest while you are in school.
  • The unsubsidized Federal Stafford Loan is not based on need but family income is a determining factor. You pay all the interest, although you can have the payments deferred until after graduation.
    
    
• Parent PLUS/Grad PLUS Loans
  • Credit-worthy parents of dependent undergraduate students and graduate/professional students can apply for this loan, which is not based on need.

Learn more about low-interest federal student loans.
Refer to the Student Loan Quick Reference Guide for more details on Stafford and PLUS Loans including:

• current rates
• loan limits
• borrower fees

Take advantage of these borrower benefits at Sweet Home Federal Credit Union.

• 0.25% interest rate reduction to members making student loan payments through Automated Clearing House (ACH).
• NO Origination Fee for Stafford Borrowers.

How to obtain a federal student loan.

1. Complete a FAFSA
   Before you begin applying for a Stafford and/or PLUS Loan, complete the Free Application for Federal Student Aid (FAFSA). It must be completed for each academic year that you request federal aid. FAFSAs for the upcoming academic year are available online on or after January 2. Contact your school for their application deadline.



2. Receive your SAR
   Once your FAFSA is processed, a Student Aid Report (SAR) is created. If you completed your FAFSA online, allow 1-2 weeks for you and your school to receive the SAR electronically. Paper FAFSAs take 6-8 weeks to process.



3. Receive your Award Letter
   Your school(s) use data from your SAR to determine your financial aid award for the current academic year and send you an award letter by e-mail or US Mail. (If your letter mentions the William D. Ford Direct Lending Program, contact your school for the appropriate promissory note.)



4. Complete a Master Promissory Note
   Apply fast and easy on-line and receive answers to frequently asked questions.
   
   
   • Apply Now for a Federal Stafford Loan
   • Apply Now for a Federal PLUS (Parent) Loan
   • Apply Now for a Federal Graduate/Professional PLUS Loan


5. Your School completes the School Certification Form
   Your school must complete a School Certification Form indicating the loan amount and disbursement dates. It is suggested that you stay in contact with your school to determine their timeline to certify and to expedite the completion of the form. The completed form should be sent to the loan servicer and guarantor, Great Lakes.



6. Your School will Receive the Funds
   Upon receipt of the school certification form, verification of credit union membership, and credit approval for Parent PLUS/Grad PLUS borrowers, the loan will be guaranteed within 24 hours. Funds will be sent to the school on the date the school has indicated.



7. Access Your Loan Account Online
   To check the status of your loan, view your account information and make payments from your bank account 24/7, and find information to help you manage your loan, go to www.mygreatlakes.org. Choose ”Borrowers” and then log in to access Applications in Progress (AIP) and Internet Borrower Inquiry Service (IBIS).



8. Call These Toll-free Numbers for Loan Inquiries
   
   • BEFORE your loan is disbursed to the school:
     Great Lakes at 1-800-247-0462
   
   
   
   • AFTER your loan is disbursed to the school:
     Great Lakes at 1-800-236-4300

Need help?
For help with the student loan process, call the credit union at (716) 691-9187 (1-800-963-9660 toll free) or e-mail SHFCU@AOL.COM.

Manage your finances.
Sweet Home Federal Credit Union and Great Lakes are committed to helping students learn to manage their finances. The regularly updated Personal Financial Management Resources provides information on anticipating college costs and staying in control of your finances while in school.

After graduation, consolidating your student loans is an option.
After you graduate, you can consolidate your student loans, even if you only have one. Contact a Great Lakes Consolidation Representative by calling 1-800-950-0152 to determine if consolidation is in your best interest. If you wish to consolidate your eligible loans and they have a total balance that exceeds the minimum requirements, you may consolidate online using Great Lakes Consolidation Loan Assistant.

Plan your future. Visit these Web sites.

• www.mappingyourfuture.biz - Detailed information about career planning, selecting a school, and paying for college.
• www.studentaid.ed.gov - Detailed student aid and student loan info from the U.S. Dept of Ed.
• www.fastweb.com  - Scholarship information.
• www.fafsa.ed.gov  - Online application for financial aid (FAFSA).
• www.pin.ed.gov  - Apply for a PIN number to complete online FAFSA.
• www.mygreatlakes.org  - Great Lakes is the guaranty agency for your student loans. You can check the status of your student loans here.
• www.nslds.ed.gov  - View the history of the federal student financial aid you have received.
• www.finaid.org - Guide to student financial aid and scholarship search services.
• www.collegeplan.org - Information on college selection, admissions, financial aid and scholarships.
• www.embark.com - Offers powerful college search tools, useful links, expert advice and guidance from an experienced college panel.
• www.usnews.com/usnews/edu/college/cohome.htm - US News & World Report’s college search and financial aid assistance.

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