As tuition costs soar, it’s nice to know that Tower has Education Loans for funding your children’s education or continuing your own.
- Borrow up to $35,000 at low, variable interest rates
- Loans for nursery, kindergarten, primary, secondary or vocational education with terms of 12 or 60 months
- Loans for higher education up to 120 months
- Education Loans for college – can be used to cover tuition, room and board, books, supplies and activity fees.
Education Loans for College
Before applying for a private loan with Tower, check with your school’s financial aid office to determine what financial aid programs are available. Then, find out if college costs may be covered by federal financial aid. Complete your Federal Application For Student Aid (FAFSA).
The following websites are good resources to learn about federal funding options for college:
- www.salliemae.com
Information about federal grants, loans and work-study assistance - www.ed.gov
Find federal financial aid, search nearly 7,000 colleges and universities in the U.S. and view facts and statistics on various education topics - www.studentaid.ed.gov
Student aid and student loan information from the U.S. Department of Education - www.fastweb.com
Find scholarships based on all types of eligibility requirements
If federal loans, scholarships, and financial aid do not fully cover your expenses, use a Tower Education Loan to cover the gap.
Current Rates
| Term (in months) | Basis Points Above Index | APR % | Monthly Payment (per $1,000 borrowed) |
|---|---|---|---|
| 12 | 0 | 7.25 | $86.64 |
| 60 | 75 | 8.00 | $20.28 |
| 120 | 150 | 8.75 | $12.53 |
| Rates effective: 1/20/2022 APY = Annual Percentage Yield. APR = Annual Percentage Rate. Rates are subject to change. Some loan rates are based on your creditworthiness and ability to pay. See additional disclosures. |
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Not a member of Tower Federal Credit Union yet? See if you are eligible to join!
For further assistance, please visit a branch or call our Member Service Center at 301-497-7000 or 866-56-TOWER.