*Important Information: Private loans, like the MCU Education Assistance loan, can be used when federal loans, grants and other forms of financial aid are not sufficient to cover the full cost of education. MCU Education Assistance loans are subject to credit approval, receipt of a completed and signed loan application/promissory note and self-certification form, verification of application information, acceptance of loan terms, and school certification of loan amount and student's enrollment at an accredited school. This loan does not offer a deferred repayment option. Installments are due 30 days from the date of disbursement. MCU services its Education Assistance loans and does not sell them to another lender. Although a cosigner is not necessary or required to apply for a private student loan, a qualified cosigner may help you get approved for a private student loan and possibly help you qualify for a better interest rate. Borrowers and cosigners are equally responsible for repayment of the loan. Upon request by the student borrower, cosigners are eligible to be released from the loan after any 36 consecutive payments of principal and interest are paid on time. The borrower must meet MCU's established credit criteria at the time of cosigner release. Other terms and conditions apply. Benefit programs are subject to change. Maximum annual loans up to cost of attendance, less other aid, but no more than the amount certified by your school. Aggregate maximum loan limits apply. This information was current as of 1/24/2012 and is subject to change. Contact Municipal Credit Union for the most up-to-date product terms.