Federal Holiday Hours - Royal offices and Member Service will be closed Friday, June 19 and open normal hours Saturday, June 20. Royal's online and mobile banking are available 24/7.

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Student Loans

Q: What is a private student loan from Royal Credit Union?

A private student loan from Royal Credit Union helps finance education costs beyond federal aid. Royal offers variable-rate student loans with multiple repayment options, including deferred payment options. There are no origination or processing fees, and funds are disbursed directly to the school.

Q: Who is eligible for a Royal Credit Union student loan?

Royal Credit Union student loans are available to members attending an eligible school at least half-time in a 2- to 4-year degree program. Royal Credit Union Membership is required.

Q: How much can I borrow with Royal's student loan?

The minimum student loan amount is $2,000, with an annual borrowing limit of $10,000 and a total aggregate limit of $40,000. If a cosigner is required, the cosigner aggregate limit is $80,000.

Q: Are there any fees on Royal's student loans?

No. Royal Credit Union student loans have no origination fees, no processing fees, and no late fees.

Q: Can I defer payments on my student loan?

Yes. Royal offers optional deferred payment options until after graduation, allowing students to focus on school without monthly payments. Interest continues to accrue during the deferment period.

Q: What is the repayment term for Royal's student loan?

Royal Credit Union student loans have a 12-year repayment term. Borrowers may qualify for a 0.25% APR reduction by enrolling in automatic payments, which can reduce the overall cost of the loan.

Q: How long does Royal’s student loan process take?

The student loan process typically takes about six weeks. After submitting the application, it is reviewed and sent to the school for certification. Once certified, final approval and disclosures are completed and funds are disbursed to the school.

Student loans can help finance your education above and beyond federal funds

Call us at 800-341-9911 to learn more.

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A private student loan could be the boost your educational budget needs! Keep your college career on track to reach your graduation goal with help from our student loans. We offer variable-rate student loans with multiple repayment options and terms, including deferred payments. These education loans have no processing or origination fees, and funds are disbursed directly to your school.

Student Loan Features

Variable interest rates – see current rates
Available to Members attending an eligible school at least half time for a 2- to 4-year degree program
12-year repayment term
No processing or origination fees
Optional deferred payments until after graduation
Automatic payments may qualify for a 0.25% APR reduction
Cosigner release option after 36 consecutive on-time payments
No late fees

Student Loan Limits

$2,000 minimum amount, with a $10,000 annual limit
$40,000 student aggregate limit for Royal Credit Union private loans
$80,000 cosigner aggregate limit for student loans

Student Loan Refinance

Student loan consolidation or student loan refinancing allows you to pay off all of your federal and private loans using a single refinance loan from Royal. That way you’ll only have one payment to make, and depending on the terms and interest rate you could save money in the long run.

Student Loan Refinance Features

Variable interest rates – see current rates
$5,000 minimum to $50,000 maximum amount
15-year repayment term
No processing or origination fees
No prepayment penalty
No late fees
Automatic payments may qualify for a 0.25% APR reduction
Cosigner release option after 36 consecutive on-time payments

Apply Now

Frequently Asked Questions

What is a private student loan from Royal Credit Union?
A private student loan from Royal Credit Union can help finance your education above and beyond federal funds. Royal offers variable-rate student loans with multiple repayment options and terms, including deferred payments. These loans have no processing or origination fees, and funds are disbursed directly to your school.

Who is eligible for a Royal Credit Union student loan?
Royal's private student loans are available to Members attending an eligible school at least half time for a 2- to 4-year degree program. Royal Credit Union Membership is required.

How much can I borrow with Royal's student loan?
The minimum loan amount is $2,000, with a $10,000 annual limit, and a $40,000 aggregate limit. If you need a cosigner, the cosigner aggregate limit for student loans is $80,000.

Are there any fees on Royal's student loans?
No. Royal's student loans have no processing or origination fees and no late fees.

Can I defer payments on my student loan?
Yes. Royal offers optional deferred payments until after graduation, so you can focus on your studies without worrying about monthly loan payments while you're in school. Interest will continue to accrue during the deferment period.

What is the repayment term for Royal's student loan?
Royal's private student loans have a 12-year repayment term. Automatic payments may qualify you for a 0.25% APR reduction, helping you save over the life of the loan.

How long does Royal’s student loan process take?
The process typically takes about six weeks from start to finish. After completing the online application, the application is reviewed and a certification request is sent to your school. Once the school certifies the loan amount, approval and final disclosures are sent, and the first disbursement is sent to the school after about six weeks.