Union Federal Education Loan
US LenderA fee-less private student loan provider that welcomes international students with a US citizen or permanent resident cosigner, offering competitive rates and rate discounts for on-time payments.
Why Choose Union Federal Education Loan?
Cover Up to 100% of Costs
The Smart Option Student Loan can cover up to 100% of your school-certified cost of attendance, with no strict enrollment or program requirements.
Fixed or Variable Rates
Fixed APR from 2.89% to 17.49%, or variable APR from 3.75% to 16.37%, with a 0.25 percentage point discount for enrolling in auto debit.
3 In-School Repayment Options
Choose deferred repayment, a $25 fixed monthly payment, or interest-only payments while enrolled, followed by a 6-month grace period.
Cosigner Optional
Union Federal is known for approving borrowers without a cosigner more often than many private lenders, though a cosigner can improve your rate.
Quick Cosigner Release
Cosigned borrowers can apply for release after graduating and making 12 consecutive on-time principal and interest payments.
Expenses Covered
Union Federal Loan Highlights
- One of the largest and most established US student loan lenders
- No origination fees for borrowers at degree-granting institutions
- No prepayment penalty on early repayment
- Repayment terms of 10 to 15 years of principal and interest payments
- No collateral required — loans are unsecured
- Loan products for undergrad, grad, law, and career training programs
- Cosigner release after 12 consecutive on-time payments and a credit review
- 0.25 percentage point discount for enrolling in auto debit
Eligibility Criteria
US Citizen or Permanent Resident
Union Federal primarily serves US citizens and permanent residents; international students would generally need an eligible US-based cosigner.
Enrolled at an Eligible School
Applicant must be enrolled at a degree-granting US institution, with no strict minimum enrollment or GPA requirements for the Smart Option Loan.
Cosigner Optional
A cosigner isn't mandatory, but applying with a creditworthy cosigner generally improves your approval odds and interest rate.
No Collateral Required
Loans are unsecured — no property or asset needs to be pledged, regardless of whether you apply alone or with a cosigner.
Documents Required
Standard checklist for education loan applications — confirm the exact current list with Union Federal directly before applying.
Borrower Documents
- Government-Issued ID
- Social Security Number
- Proof of Enrollment
- Income / Employment Verification
- School-Certified Cost of Attendance
- Bank Account Details (for disbursal)
Cosigner Documents (if applicable)
- Government-Issued ID
- Social Security Number
- Proof of Income
- Credit History Consent
- Address Proof
Not Required by Union Federal
- No Collateral Documents
- No Property or Asset Papers
- No Application Fee
How Union Federal Education Loan Works
Check Eligibility
Apply & Upload Documents
Application Login
Credit Evaluation
Sanction Letter
Visa Approval
Disbursement of Loan
University Coverage
Union Federal funds loans for students enrolled at least half-time at Title IV-eligible degree-granting institutions across the United States — it is a US-focused lender and does not offer loans for study in India or other countries. Coverage and terms are primarily aimed at US citizens and permanent residents; confirm your specific eligibility and school with Union Federal directly or our counsellors before applying.
EMI Calculator
Estimate your monthly EMI for a Union Federal education loan based on amount, tenure, and interest rate.
Open EMI CalculatorFrequently Asked Questions
Still not sure if Union Federal Education Loan is right for you?
Compare with other banks and choose the best loan for your study abroad journey.
