The Laurel Collegiate Loan Can Pay for Expenses

College expenses don’t end with tuition, room and board.

When creating a budget for the academic year, parents need to sweat the small stuff. Don’t forget the everyday costs of campus life – because they add up fast. A Laurel Collegiate Loan can provide up to $40,000¹ a year in college funding for any of those "small" education-related expenses, including:

Student fees, lab fees and expenses

Books

Course-related publications

Personal computer, school-Internet access charges

Software, printer, ink cartridges, paper, and other school supplies

Travel home

Study abroad

And remember, with a Laurel Collegiate Loan, payments can be deferred or up to a maximum of five years.²

Back to The Laurel Collegiate Loan

Undergraduate and graduate borrowers may borrow annually up to the lesser of the cost of attendance or $30,000 ($40,000 for certain schools where the annual cost of attendance has been determined to exceed $30,000). Borrowers in Continuing Education and K-12 loan programs may borrow annually up to $30,000.
Undergraduates may choose to defer repayment of principal and interest until six months after graduation at least half time, for up to a maximum of five years. Immediate repayment and interest-only repayment options are also available. Graduate repayment is automatically deferred. Continuing education borrowers begin repayment the earlier of a) 180 days after the student graduates or earns a certificate; b) 180 days after the student ceases to be enrolled; or c) two years after the date of the loan disbursement. K-12 loans are immediate repayment loans.

Laurel Collegiate Loans are funded by Union Federal Savings Bank, Member FDIC and Equal Opportunity Lender.

The student is the primary borrower for the Undergraduate, Graduate and Continuing Education Loans. Parents and other creditworthy individuals may cosign for these loans.