Student Loans

Before applying for a private loan, we encourage you to first complete the FAFSA or Free Application for Federal Student Aid. You should also work with your college financial aid office to explore and exhaust all sources of student financial aid, including federal student loans, scholarships, grants, and personal savings, before seeking a private student loan.

Indiana State University Federal Credit Union also offers a scholarship to members intending to enroll or who are already enrolled full-time in an undergraduate degree program at either Indiana State University or Saint-Mary-of-the-Woods College. Learn more about our scholarship.

ISL Education Lending

Indiana State University Federal Credit Union works with ISL Education Lending to offer private loans to help you pay for college as well as refinance existing student loans. ISL Education Lending is a nonprofit organization with decades of student loan experience offering lower-priced loans.*

ISL Education Lending offers:

Loans for college students
A loan option for parents and family members who wish to borrow on behalf of a college student
Multiple student loan refinance options

In addition, they offer multiple scholarship opportunities and free college planning tools to help students and families avoid overborrowing and plan smart for life during and after college.

Learn more about ISL Education Lending's offerings on their website

* Indiana State University FCU is compensated by ISL Education Lending for the referral of student loan customers. All loans offered by ISL Education Lending are subject to credit approval.

Smart Option Student Loan® by Sallie Mae

Whether you’re an undergraduate, career training, or graduate student getting money for school from Sallie Mae®, student loans from ISU Federal Credit Union in partnership with Sallie Mae® could help!

Sallie Mae® student loans are designed for the needs of all types of students:

Competitive interest rates
Multiple repayment options
No origination fees, no prepayment penalty

Find out which loan is right for you.

These loans are made by Sallie Mae Bank or a lender partner. ISU Federal Credit Union is not the creditor for these loans and is compensated by Sallie Mae for the referral of loan customers.

Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply. Click here for additional eligibility information about each product.

1 Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note—first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

© 2022 Sallie Mae Bank. All rights reserved. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.

Scholarship

The ISU Federal Credit Union offers four $5,000 tuition scholarships and four $500 book scholarships annually to members intending to enroll or who are already enrolled full-time in an undergraduate degree program at either Indiana State University or Saint Mary-of-the-Woods College.

The application period is November 1, 2024 - January 31, 2025.

Scholarship Application

The David P. Ridenour Memorial Scholarship, featuring a blue semicircular design resembling an open book and a graduation cap above it. Below, the text reads: 'The David P. Ridenour Memorial Scholarship sponsored by ISU Federal Credit Union.

Eligibility Requirements

1. Applicant must be an ISU Federal Credit Union Member in good standing.
2. Must have a grade point average of 2.75 or above (on a 4.0 scale).
3. Applicant must be enrolled or intend to enroll full-time in an undergraduate degree program at either Indiana State University or Saint Mary-of-the-Woods College.
4. Tell us how your demonstrate leadership skills and your involvement in school and community activities.