If you need some help paying for school our Student Loans are one of your options.

These Student Loans are not part of any guaranteed government loan program. You pay while you’re in school and the payments go up 6 months after graduation. You can’t pay for a 4 year out of state university with this option but you can pay for RCC or fill in some financial gaps.

  • Student must be a member in good standing with Decatur Earthmover Credit Union to be eligible for an educational loan.
  • Student must be at least a half-time student at an approved post secondary educational institution.
  • Maximum amount of loan may not exceed the following:
    • Undergraduate student - $2,500.00 per semester, $5,000.00 per year
    • Graduate student - $4,000.00 per semester, $8,000.00 per year
  • Student must live in university approved housing to qualify for housing allowance.
  • An itemized billing statement for tuition and housing must be provided by the educational institution.
  • Student must have a qualified cosigner on the loan. Cosigner must be in good standing with DECU to be eligible to cosign. If applicant is of legal age and has sufficient income, the loan may be granted without a cosigner.
  • The loan check will be payable to the student, the cosigner, and the educational institution unless proof of prepayment is provided.
  • Payment required on the loan while attending school is a minimum of ¾% of the outstanding balance. Minimum of $13.00 per week or $50.00 per month. Six months after graduation or termination of education, whichever comes first, will cause payment to be accelerated to 1.5% of the outstanding balance.
  • Refinanced loans from another lending institution will need credit committee approval.
  • Your actual rate will reflect your individual circumstances. To find out your loan rate, please contact our loan department.