STUDENT LOANS
Any current USF student, who is a USF Federal Credit Union member, may apply to borrow money for many different student related expenses such as tuition, late fees, computers, study abroad programs and even textbooks! Students who need to join the credit union may do so by making a $5 savings deposit and you must be 18 years or older to apply.
Emergency Loans for Books & Tuition
A maximum of $500 may be established as a line of credit which can be reused as needed for books and tuition while attending USF. The interest rate is variable and is subject to change quarterly and it is based on the current prime rate plus 5.75% with a maximum rate of 18%. The rate is competitive and less than most credit cards and the monthly payment is 10 percent of the highest balance with a minimum monthly payment of $50. A copy of your class schedule needs to be submitted with the loan application. Class schedules may be obtained from the Registrar's Office, your college or the Cash Collection and Student Financial Service Office in the Administration Building. Completed applications should be returned to the main campus credit union office at 13302 USF Palm Drive. For immediate processing, applications and class schedules may be faxed to (813) 569-2001. Checks will be made payable ONLY to the University of South Florida. Please submit an invoice or a bill indicating the exact dollar amount you are requesting for tuition and books. Apply Now!
Financing for Study Abroad Programs
This loan program is available to any current USF student who is an approved, registered participant in any USF Study Abroad program and has made an initial down payment. Qualified members can borrow up to $2,500 and requests above $2,500 may be approved with a qualified guarantor. The interest rate is variable and is subject to change quarterly and it is based on the current prime rate plus 5.75% APR*.Small monthly payments are required until the student's anticipated undergraduate graduation date at the time the loan is taken. After that date, the loan balance will be amortized based upon the remaining loan balance. Loan funds will be disbursed by the Credit Union directly to the University of South Florida or to the agent (such as Carlson-Wagonlit) for program expenses; no funds will be directly paid to the student.
*APR = Annual Percentage Rate
Student Computer Loans
Need a new computer? Qualified members can borrow up to $2,000 and requests above $2,000 may be approved with a qualified guarantor. The interest rate is variable and is subject to change quarterly. It is based on the current prime rate plus 5.75% APR*. Small monthly payments are required until the student’s anticipated undergraduate graduation date at the time the loan is taken. After that date, the loan will be amortized based upon the remaining loan balance. Loan funds will be disbursed by the Credit Union directly to the USF Computer Store or other approved vendor; no funds will be directly paid to the student.
*APR = Annual Percentage Rate
