It’s Wise to Invest in your Future
we offer student financial aid options
College costs are on the rise, so it’s more important than ever for students and families to plan carefully and fully understand all financial aid options. By maximizing no- and low-cost financial aid, choosing student loans carefully, and developing proper money management skills, it’s still possible for students to leave college with a bright financial future . . . and not just a mountain of debt. Frankenmuth Credit Union offers CU Student Choice: a convenient and trusted financing option for your higher education expenses.
LINE OF CREDIT
GRANTS And sCHOLARSHIPS
Student Loan Deferment
Frankenmuth Credit Union (FCU) will award seven scholarships annually to seven graduating seniors from high school in the present year of applying with a grade point average of 2.50 or higher. The applicant must be a member of FCU or if not a present member, he or she may join at the time of applying if the applicant meets FCU’s current field of membership requirements. Applications will be available in early January at any FCU office or online and are due by March 1st.
Selection will be based on achievements in two areas:
- Extra-curricular activities – participation in organizations, sports and activities in the school, community, church and other areas of service.
- Written essay – submission of an essay in the 500 to 750 word range on a topic chosen annually by the FCU Management Team. The essay will be judged on content, originality and appearance. Each year’s application will feature a unique assigned topic.
All Frankenmuth Credit Union scholarship awards are contingent on the recipients attending an accredited institution or trade school of higher learning as a full time student during the next and following four years. The amount of $500 will be awarded at the beginning of each academic year for four years. The recipients must remain in school and maintain an average grade point of 2.50 or better in order to continue receiving the yearly installments. For winners to receive following year installment they can contact us. We will need a copy of your grades from the prior year and a copy of your transcripts for the following year. A graduating senior is eligible to win only one Frankenmuth Credit Union scholarship.
Budgets are cut tighter and tighter for schools which sometimes means that teachers are having to take from their own pockets to buy essentials for their classrooms. Frankenmuth Credit Union’s Teacher Mini Grant program is yet another way FCU is helping teachers provide the best educational experience for our students. Applications come out in February of each year and are due back to anyone of the Frankenmuth Credit Union office by April 1st.
|Description||APR*||Max. Dollar Amount|
|as low as|
|Education Line of Credit||5.49%||$50,000 Maximum Line|
|as low as||as low as||Dollar Amount|
|Post Deferment Student Loan Refinance||5.456%||5.240%||10 yr to repay|
If you’ve exhausted free and cheap money for college costs and are still faced with funding gaps, you may be considering PLUS or private student loans. Review the pdf below to understand key differences.
Information and interactive calculators are available to you only as self-help tools for your personal use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from a Frankenmuth Credit Union professional regarding all personal finance issues. Call 989-497-1600 or find a branch near you.