Loan Services and Promotions / Back to School Student Line of Credit

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  • Student Line of Credit

    • 4.75% APR1 on variable rate student LOC up to $75,000 
    • Save up to $7,9772 with Democracy FCU! 
    • Get a RCA tablet with a new Democracy FCU Student LOC3


    Apply Today!

    14.75 APR (Annual Percentage Rate) is a variable rate on Democracy FCU Student Loans and may be adjusted quarterly based on the publicly available Index. Any increase in the Index may increase the APR and may increase the amount of your monthly payment. As of July 1, 2017, the Prime index (Index), as published in the Wall Street Journal, used is 4.25%. For a new line of credit, the Index used is the rate as published on the first business day of the last month immediately preceding each new quarter. Current offered rate(s) are calculated by using the Index, Margin and Floor value(s) in effect. Your specific Index, Margin, Floor, and/or credit approval will depend upon the student borrower’s and co-borrower’s (if applicable) credit qualification. Applicants may apply with a creditworthy U.S. co-borrower which may result in a better chance of approval and/or lower interest rate. The Interest Rate will not exceed 18.00%, regardless of the Index. Margin will be disclosed at account opening. This Margin is added to the Index to determine the calculated interest rate. Floor rate is in effect any time the calculated interest rate is below the assigned Floor rate. The Floor rate will be disclosed at account opening. Payment example: For an $20,000 New Student Loan for a term of 60 months with a 4.75% APR, the monthly payment would be $375.14. 2$7,977 is the difference between the amount paid in interest between Democracy FCU’s rate at 4.75% APR compared to 8.50% APR from Apple FCU over the life of a $15,000 student loan over 20 years. Rate obtained on corresponding competitor’s website on 7/3/17. 3RCA Galileo Pro 11.5” 32GB 2-in-1 Tablet offer is effective 7/17/2017 to 9/30/2017, student line of credit must be approved and closed within this time period to be eligible. Tablets are available while supplies last. Offer is subject to change without notice. 

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