Private Student Loans

Federal loans not enough to cover the cost of your college education? The Private Student Loan available through ORNL Federal Credit Union can be the answer to your funding needs.

Main Program Features

  • Borrow as little as $1,000 or as much as $12,500 per year. $40,000 lifetime maximum **
  • Fixed and variable rate repayment programs to choose from
  • Choose between deferring payments, making interest-only payments or begin immediate repayment during the in-school period
  • Use our private student loan to pay for qualified education expenses such as tuition, books, room/board, computers and even past due tuition bills!
  • Quick pre-approval once we receive your completed application
  • Cosigner release after just 36 consecutive on-time payments ***

Student Benefits

  • Zero Origination, Repayment or Insurance Fees for all qualified student borrowers****
  • No Prepayment Penalty
  • Competitive Interest Rates
  • 1% Interest Rate Reduction once you repay 25% of the loan ***

Eligibility & Credit Requirements

  • Borrower must be enrolled in an approved school and pursuing a degree program on at-least a halftime basis
  • Borrower must be a member or join ORNL Federal Credit Union during the online application process
  • Borrower and cosigner must be a U.S. citizen or permanent resident
  • Students are encouraged to apply with a creditworthy cosigner for a better chance of approval and/or lower interest rate

Applying with a cosigner is highly recommended to qualify for lower rates!

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Student loans should be used as supplemental funding after exhausting all forms of financial aid, including grants, scholarships, and federal student loans. Federal loans offer more attractive terms when compared to most other borrowing options, including private student loans. For more information on federal loans, visit

* APR = Annual Percentage Rate. Rates and terms based on credit criteria and are all subject to change. Please call any of the Credit Union's offices for current interest rates and policies. See credit union for current rate and fee schedule.

** Program Limits. Certain requirements apply.

*** Subject to Credit Union approval. Certain requirements apply.

**** A qualified student is one who is enrolled in an undergraduate or graduate degree seeking program at least half-time at an eligible school and who has met the underwriting criteria for loan approval.