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Undergraduate Private Student Loan

College can be tough. Paying for it doesn't have to be.

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Or call 1-317-524-5168

Undergraduate Private Student Loan

Enjoy one simple application that lets you secure financing for your entire college experience.


  • Offered in Partnership with Credit Union Student ChoiceOffered in Partnership with Credit Union Student Choice, our private education line of credit fills the gap when you've exhausted all other lower-cost sources of aid.
  • Minimum draw of $1,000 and aggregate maximum of $75,000
  • Competitive interest rates based on credit score
  • No origination or pre-payment fees
  • Co-borrower not required, yet qualified co-borrower could result in lower interest rate
  • Co-borrower release with 48 months of consecutive monthly on-time payments
  • 25% rate discount during repayment for automated electronic payments
  • Get a fixed monthly payment with a rate that doesn't change over time.
  • 5-, 10-, and 15-year repayment terms
  • As rates rise and fall according to the market index, your monthly payment may change over time.
  • 15-year repayment

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What are the great features of an Elements Undergraduate Private Student Loan?

With our private education line of credit, you can secure funding for your entire undergraduate career with just one application! In future academic years, simply request funds from your line (called a "draw") for the amount you need — no need to reapply! And with convenient repayment terms and in-school deferment, we’ll help you successfully manage repayment after college. As a local, not-for-profit credit union, we’ve got your best interests in mind.

Undergraduate Private Student Loan Features

  • For students attending most four-year public and private nonprofit schools
  • Covers cost of attendance: tuition, fees, books, room and board, other related expenses
  • School-certified, convenient line of credit allows for one application and multiple draw requests
  • Flexible repayment options during school and after graduation, including the option to defer payment while still a student

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Who do I go to with my questions?

You can talk to us! Look to us for answers to your questions about student loans.

Set up a complimentary one-on-one appointment with a Student Lending Expert.

  • Explore options and identify differences between federal and private student loans
  • Discuss options for undergraduate degrees
  • Discuss options for graduate students seeking a business degree
  • Get assistance completing your student loan application

Schedule a Meeting with a Student Loan Advisor

Does Elements offer first-time, traditional student loans?

No. Even though you will apply for these loans through your school, we are still here to answer your questions at the Student Loan Hotline: 1-317-524-5168 or by email.

We do offer an Undergraduate Private Student Loan. This private education line of credit, fills the gap when you've exhausted all other lower-cost sources of aid.

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Why should I go to Elements for my Student Loan?

Like a Bank, Only Better!

Better Rates. Fewer Fees.

Because we’re a credit union, we return profits to members in the form of reduced fees, higher savings rates, and lower loan rates.

Trusted Advice. Fresh Approach.

We pride ourselves on being a trusted source for financial education. Your financial wellness expert will come to your workplace to answer questions and provide you with 1-on-1 assistance as you navigate the changes that come with each of life's stages.

Respected Locally. Accessed Globally.

Headquartered in Indianapolis since 1930, we rank among the top 4% of credit unions nationally1. We serve members in all 50 states and 50+ countries. You’ll have access to 5,000+ shared branches nationwide and 78,000+ surcharge-free ATMs globally.

High Tech. Human Touch.

Our technology makes banking with Elements easy. From quick digital applications to online and mobile banking, we’ll be by your side wherever you go. We’re here for you with member service available 24/7 and live chat during the workday.

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How do I apply?

4 Steps to Refinance

  • Day 1 — Initial Credit Application Started - You can apply online in as little as 20 minutes. Submit your application online anytime or call 1-800-369-4250 24 hours a day, 7 days a week, to get started. Be sure to have some information handy for a smooth application.
  • Days 2-16 — Document Submission and Verification - You may need to submit additional documentation for the verification process.
  • Days 17-31 — Loan Certification by Your School - Once you reach this point, your line of credit has been fully approved and we are waiting for your school’s financial aid office to approve the loan amount you requested.
  • Days 32-42 — Loan Disbursement to Your School — Once the certification has been returned by your school, we will complete a few final checks and then remit payment directly to your school. We always send loan funds via electronic payment methods if available through your school. If the school does not accept these options, we will mail them a physical check.

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Helpful and easy to apply for student loan products. Elements loan counselors are top notch at communicating and assisting with each step of the process.

- Paul H. | Member since 2021
  1. 1 Based on asset size as of 12/31/2021