Student Loans
Competitive rates and multiple repayment options for college, with simplified student lending & refinancing options through Waypoint.
How Waypoint Student Loans Work
Waypoint gives members access to student loans with competitive interest rates and multiple repayment and refinance options. Establish your private education line of credit today, and once your plans have been finalized, come back to get the exact funding you need. With lower rates and flexible repayment terms, Waypoint helps you find a better way to pay for college.
What You Should Know
Student Lending & Refinance
From private student loans to student loan refinance, we’ve got you covered. Get the funds you need with features you want.
Competitive Rates
With your savings growing in a Waypoint Share Savings Account or Share Certificate, you can borrow against those deposits with a low, affordable rate.
Multiple Repayment Options
More than one way to structure repayment while studying and after.
Fill Educational Funding Gaps
When scholarships, grants and federal aid aren’t enough, Waypoint Private Education Solutions makes financing college easier.
Online Application & Approval
Establish your private education line of credit today, and once your plans have been finalized, come back to get the exact funding you need.
Apply Online
Our Private Education Solutions provide the additional funds you need with the Waypoint benefits you want, including:
- Flexible funding
- Lower interest rates
- Repayment options
- Easy online application and approval
- Convenient line of credit structure that lets you apply once and secure financing for your entire college career*
- Refinance option for current student loans.
*Subject to qualification and annual credit review.
Common Questions
Yes. The borrower must be a member of the credit union for funds to disburse. To speed things up, you can open your Waypoint membership while your loan application is being processed.
No. This is a line of credit with multi-year approval, so you apply once. Each year you request the amount you need as a draw, based on the amount your school certifies, and the funds are disbursed on your school’s schedule. Multi-year approval assumes no significant change to the borrower’s or co-applicant’s credit.
The maximum is the certified need determined by your school for the remainder of your enrolment, which is typically your Cost of Attendance less other financial aid you receive. The maximum co-applicant aggregate amount across multiple lines of credit is $150,000 for both undergraduate and graduate borrowers.
Generally yes. Federal student aid usually offers repayment protections that private loans do not. A private loan is normally considered after federal options are exhausted.
A cosigner is not required. Applying with a creditworthy cosigner may improve your chance of meeting the credit union’s approval criteria and may help you qualify for a lower interest rate.
Yes. Funds can be used for anything listed in your school’s cost of attendance, or other education-related expenses. The money is sent directly to your school, and if part of it covers things the school does not bill for, such as books, off-campus rent or a laptop, the school issues you a refund for the excess.
You can make interest-only payments while in school, defer both principal and interest until six months after graduation, or make full payments while in school. If you defer, interest begins accruing at disbursement and is capitalized when you enter repayment.
University Accounting Service (UAS) services these loans. Once your loan has disbursed or entered repayment you can reach UAS on 877-530-9782, or manage your account through the Student Lending Center login.
Applications are completed through the Waypoint Student Lending Center, linked on this page. You will see a notice that you are leaving the Waypoint website.
Questions before you apply? Ask us first.
Local decisions. No obligation.
A short conversation before you apply tells you what you can realistically borrow and what it will cost in total. Book a time at any Waypoint branch, or start online and we will pick it up from there.
Important Disclosures
APR = Annual Percentage Rate.
Rates subject to annual review and credit qualification.
Refinance terms subject to credit qualification and additional criteria, including graduating from an approved school. Savings or lower interest rates are not guaranteed and depend on your individual financial profile, loan terms, and credit history.