• Young Adults

There's a reason we call you "young adults." You're not a child to us -- "adult" is right there in the name! At Magnolia FCU, we treat you with every bit of the respect you deserve. You have financial needs just like the grown-ups -- big dreams and plans for the future. Start preparing for that future with these accounts designed especially for you.

EdAccess Private Student Loan

Federal student loans, scholarships and grants not enough to cover the cost of your college education?

The EdAccess Loan can be the answer to your funding needs.

For more information visit our Program Features, Student Benefits, and Eligibility & Credit Requirements page or click the "Apply Now" button to apply today!

Also make sure you check out our new College Resource Center for the latest information on financing a college education.

Main Program Features

Borrow as little as $2,000 or as much as $30,000 per year. $120,000 lifetime maximum

Defer full principal and interest payments until six month after graduation or leaving school

Variable interest loan based upon LIBOR index plus a margin. Recent rates for approved loans range from 2.99%-8.99%

Interest paid on loan may be tax deductible. Please consult your tax advisor

Low fees (2.50%) based on repayment option selected -- Borrower has the option to choose between making interest payments or a nominal $25 "Proactive Payment" towards the loan while in school

Use the funds for any qualified educational expense, including past due tuition bills

No prepayment penalty and 30-day loan cancellation policy

Fast pre-approval once we receive your completed application

Student Benefits

Credit + Academic based underwriting

• We use the FACS Grade, which takes into account the credit history of the borrower/cosigner as well as the academic progress of the student. Good grades and getting closer to graduation means a lower loan rate!

1% Interest Rate Reduction

• Once you have entered repayment and repaid just 10% of the loan

30 Day No-Fee Return Policy

• Find a cheaper way, you can cancel the loan. No questions asked. As long as you cancel within 30 days of approval date, you owe no fees and no interest!

Cosigner release after 24 payments

• The cosigner may be released from the loan once the loan is in repayment and the borrower has made just 24 on-time payments. The borrower must meet the minimum credit requirements