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Whether you are starting college, returning to college, or pursuing an
advanced degree, PrimeSource Credit Union can help you make the necessary financial adjustments to pursue your academic goals.
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Free Application for Federal Student Aid (FAFSA) Scholarship Research
What do a a highschool graduate, an adult in the workforce, or a parent interested in sending a child to college all have in common? They are all capable of enhancing their own career and future (or that of a child's) by investing in higher education. PrimeSource Credit Union is committed to providing the products, services and information needed to finance school educations. We offer loans for computers, supplies and other student needs.
PrimeSource also offers loans to to help consolidate existing student loans (see below).
To apply for a student loan, you may need to fill out a Free Application for Federal Student Aid (FAFSA) at the Federal Student Aid website. Please call us if you have any questions in getting started to apply for a Student Loan with PrimeSource Credit Union.
Types of Student Loans
Stafford Loans
- A Free Application for Federal Student Aid (FAFSA) is required.
- The subsidized version is a need-based loan. With this loan, interest is paid by the government while you are in school and during the six months following graduation.
- With an unsubsidized version of the Stafford Loan, interest is paid by the borrower, but it may be deferred until graduation, or paid while you are still attending school.
- The Stafford Loan is a simple interest loan (unlike credit cards, home equity loans and other loans which are compound interest), with the rate capped at 8.25%.
- There may be a one-time guarantee of up to 1% paid to the guarantor (the agency that insures the loan) and one-time 3% origination fee paid to the federal government to help offset the program costs. The fees are deducted from the loan proceeds. Guarantee fees to attend two- and four-year public and private undergraduate institutions, graduate and professional school are waived.
- Interest may be tax-deductible.
- You may prepay on this loan without a penalty.
- Loans can be consolidated when in repayment.
PLUS Loan
- A Free Application for Federal Student Aid (FAFSA) may be required.
- This loan is not based on need. All credit-worthy parents are eligible.
- Simple interest loan, with an interest rate cap of 9%. Call for current rates.
- A one-time guarantee of up to 1% may be charged by the guarantor and a one-time origination fee of 3% is paid to the federal government to help offset the program benefit costs. The fees are deducted from the loan proceeds.
- Interest may be tax-deductible.
- If you obtain your PLUS Loan each year from us, your loans will automatically be consolidated.
- PLUS Loan proceeds are disbursed directly to the school on the dates determined by the school.
- Repayment begins within 60 days after the loan is fully disbursed.
- Minimum monthly payment is $50.00
For easier access, start by completing the Free Application for Federal Student Aid (FAFSA)
When you have determined the type of student loan that fits your requirements, the application will have an area that asks you to designate your lender code, enter PrimeSource Credit Union:
Lender: PrimeSource Credit Union
Lender Code: 824462
Consolidation Loan Lender Code: 874462
Student Loan Consolidation
Let PrimeSource assist in taking advantage of low interest rates on student loans by consolidating existing student loan(s) into one loan, with one monthly payment and a fixed interest rate.
Loan Consolidation Criteria
Area Colleges:
Central Washington University
Community Colleges of Spokane
Eastern Washington University
Gonzaga University
Idaho State University
North Idaho Community College
Seattle Pacific University
University of Idaho
University of Washington
Washington State University
Western Washington University
Whitman University
Whitworth College
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