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 Getting a college degree is a worthwhile goal. But the cost of a college education can be overwhelming for both students and parents. That’s why Chicago Municipal Employees Credit Union offers Federal Family Education Loan Program (FFELP) loans. If you or another family member plans to attend a university, technical college, or any specialized training program, Chicago Municipal Employees Credit Union can help you with the funding you need to pursue your dreams.
How to apply.
Folow the process outlined here. Please note: membership in Chicago Municipal Employees Credit Union is required to receive a loan through the credit union. To find out if your eligible to join or to download enrollment forms, please click here.
Our lender code is: 834383
Learn more about low-interest federal student loans.
Refer to the Student Loan Quick Reference Guide for more details on Stafford and PLUS Loans including:
 the application process
current rates
loan limits
toll-free numbers to check the status of your loan account
Loan Options
Subsidized Federal Stafford Loan
Based on financial need
Government pays the interest while your in school
Unubsidized Federal Stafford Loan
Not based on financial need, but family income is a
detrmining factor
Borrower pays interest
Payments can be deferred until after graduation
Parent PLUS Loan
Not based on financial need
Creditworthy parents can borrow for dependent children
Parents can borrow up to the cost of education minus
any other financial aid the student is receiving
Graduate/Professional PLUS Loan
Not based on financial need
Graduate and professional degree students
Helps to fill the gap between the cost of attending graduate
school and financial aid received
For more information, contact a Member Services Representative at 312-236-2326.
After Graduation, consider consolidating your student loans.
After you graduate, look into a low fixed rate by consolidating your student loans. To find out more about consilidating your student loans, please click here.
Manage your finances.
Chicago Municipal Employees Credit Union and Great Lakes are committed to helping students learn to manage their finances. The regularly updated Personal Financial Management Resources provides information on anticipating college costs and staying in control of your finances while in school.
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