Be a Smart Borrower

The Laurel Collegiate Loan can finance all your child’s education related expenses, including tuition.

As its name suggests, a tuition loan pays for tuition only. A Laurel Collegiate Loan, on the other hand, can be used for anything – as long as it relates to your child’s education.

If tuition is your biggest concern, simply think of the Laurel Collegiate Loan as a tuition loan – up to $40,000 a year.1 But unlike a "tuition only" loan, a Laurel Collegiate Loan gives parents flexibility to pay for other education-related expenses as well – everything from a laptop to studying abroad.

  1. 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.
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.
Commonly asked questions. Why use grants, scholarships, and federal funding first. Find out how much you need.