Student Loans

With the recently enacted Health Care and Education Affordability Reconciliation Act of 2010 (H.R. 4872), the Federal Family Educational Loan (FFEL) Program has been eliminated. Private lenders, like Chicago Municipal Employees Credit Union no longer have a role in originating or funding federal Stafford, PLUS or Consolidation loans. Beginning July 1, 2010 all new federal student loans will be issued via the William D. Ford Direct Loan program. Contact your school's financial aid office for more information.

Effective June 1, 2010, Chicago Municipal Employees Credit Union is no longer accepting new applications for student loans through the Federal Family Educational Loan Program.

For questions or service related to an existing Federal Family Educational Loan secured through Chicago Municipal Employees Credit Union, contact our chosen servicer, Great Lakes at 1-800-236-4300, or at www.mygreatlakes.org.


CMECU Supplement Student Loan

Education costs are on the rise, making education in general but higher education especially harder to afford. Chicago Municipal Employees Credit union can help when you apply for low cost Supplement student Loans. Available to all members, who have students enrolled in qualifying Kindergarten-High School, or students 18 or older who attending any College or Graduate school programs. Borrow up for tuition, room and board, books, fees, transportation, computers etc. Members need to bring in tuition statements, receipts, invoices or any other documentation verify that the purchase is for educational purpose. For more information click here.