With the cost of education on the rise, the gap between college costs and available financial aid is growing wider each year. Now you can fill this gap, with a Private Student Loan from Novation. You only need to apply once to secure financing for your entire undergraduate career. With a rate as low as 6.00% APR,* a Private Student Loan from Novation provides:
- No origination or prepayment fees
- Flexible repayment options
- Convenient line-of-credit of up to $75,000
Click here to access a free financial aid webinar - "College Financing 101: Understanding Your Award Letter"
To access your Private Student Loan account please click here.
Rates effective July 1, 2018.
*APR = Annual Percentage Rate. Rates listed are "as low as" and based upon credit history. The Private Student Loan and Student Loan Refinance variable rate products will adjust quarterly on the first month using the Prime Rate as published in the Money section of The Wall Street Journal on the first business day of the preceding month.
* The index rate is variable and will adjust quarterly (January, April, July, October) on the first of the month using the Prime Rate as published in the Money section of The Wall Street Journal on the first business day of the preceding month. Once your draw request is disbursed, we will use the current Prime + Margin for the purpose of assessing and tracking accruing interest. While the margin will never change on your line of credit, the Prime index is a variable rate that can fluctuate through the life of the loan. Please note that your interest rate, and any subsequent rate change, applies to the entire balance on your line of credit. Novation Credit Union reserves the right to change rates for new applications at any time and without notice.