Carter Federal understands the importance of higher education. That’s why we have a number of products and services in place to help students and future students achieve their educational goals. From planning to making it affordable, Carter Federal can help!
Carter Federal Credit Union has partnered with Panhandle-Plains Student Loan Servicing to offer our Members the best in student loan servicing.
Steps to apply: Step 1. Complete the FAFSA. (http://www.fafsa.ed.gov/) This is the Free Application for Federal Student Aid and is required by the Federal Government for Stafford Loan Borrowers. You will need to have a FAFSA PIN to compete this process.
Step 2. Your school's financial aid office will determine your financial need. If you qualify to receive aid, you will receive a financial aid award outlining your eligibility for student loans. You will need to complete a Master Promissory Note. Listed on the left side of webpage for your convenience.
Step 3. When asked to choose a lender, select Carter Federal Credit Union Lender ID 824388. If you are filling out the Master Promissory Note at your college of choice and Carter Federal Credit Union Lender ID number is not presented contact the financial aid office and inform them of your choice. The Federal Government ensures your right to use the lender you are most comfortable with and we thank you for choosing us.
Carter Federal Credit Union offer the following loan products to our Members:
Stafford Loans and PLUS loans-for undergraduate and graduate students. There are two types of Stafford loans: subsidized and unsubsidized.
Subsidized - This is a need based Federal Student Loan for Undergraduate and Graduate Students. The federal government pays the interest on these loans during school, the grace period and any authorized deferment periods. Repayment begins after a drop in enrollment below part-time and following a six month grace period.
Unsubsidized - This is a non-need based Federal Student Loan for Graduate, Independent Students (as defined by the Federal Government) and Undergraduate Students whose parents have been denied a Parent PLUS Loan. Interest accumulates during school, the grace period and any authorized deferment periods. Repayment begins after a drop in enrollment below part-time and following a six month grace period.
Parent & Graduate/Professional PLUS Loan- Parents can obtain to help pay the cost of education for their children. In addition graduate students may obtain PLUS loans to help pay for their own education. PLUS loans required a credit check and in some instance, an eligible cosigner. Repayment of PLUS loans begins following the final disbursement for the year. Graduate students may be able to defer repayment of their PLUS loans after the student is no longer enrolled in school at least half-time, although interest will continue to accrue.
IMPORTANT LINKS For further financial aid information, you can also visit:
